Hines, in partnership with Urban Street Development, has successfully secured a $220 million loan from Bank OZK for the first phase of FAT Village. This 5.6-acre mixed-use development is set to revitalize Fort Lauderdale’s Flagler Village neighborhood and will encompass 835,000 square feet upon completion.
Phase 1 will feature an impressive array of amenities including 601 multifamily units, over 180,000 square feet of office space in Hines’ innovative T3 building made from heavy timber materials and designed for transit and technology use. Additionally, there will be more than 70,000 square feet dedicated to retail offerings such as food and beverage options as well as shopping opportunities.
FAT Village also boasts a vibrant arts scene with studios and galleries available for visitors to explore. Conveniently located just two blocks away from Brightline’s high-speed commuter rail station in Fort Lauderdale which connects the city to Miami, West Palm Beach,and Orlando.
According to Alan Kennedy of Hines,”Despite current challenges facing financing and construction starts within the industry,FAT Village presents an exciting opportunity that we are eager to pursue.This development has immense potentialto transform FlaglerVillageand contribute significantlytothe growthofFortLauderdale.”
