A 35-story residential tower planned for downtown Fort Lauderdale has secured $140.2 million in senior construction financing, advancing Alta Developers‘ plans to deliver 400 luxury rental residences near the city’s New River waterfront.
Known as Alta New River, the development will rise at 100 SW 6th Street, with apartments averaging approximately 840 square feet. Construction is expected to begin in November 2026, with completion targeted for the fourth quarter of 2028, according to the financing announcement.
The project is designed to bring condominium-style residences and amenities to the rental market, combining a large residential programme with access to the New River Riverwalk, Las Olas Boulevard and Fort Lauderdale’s Brightline station.
A 35-story residential tower in downtown Fort Lauderdale
Alta New River will comprise 400 rental apartments across 35 stories. Its location places the development two blocks from the New River Riverwalk and within walking distance of Las Olas Boulevard, one of downtown Fort Lauderdale’s principal retail, dining and entertainment destinations.
The tower will also be less than a mile from the Fort Lauderdale Brightline station, providing rail connections to Miami, West Palm Beach and Orlando.
The project occupies a site at 100 SW 6th Street that Alta acquired in 2022 for approximately $20.8 million. The property had previously been associated with an earlier residential development proposal.
Alta’s current development is also listed as New River Central in the company’s project portfolio and in Fort Lauderdale’s development records. Those materials identify the same 35-story, 400-residence scheme.
Condominium-style amenities planned for rental residents
The tower is being designed around a luxury residential offering, with amenities intended to provide a condominium-style living experience.
Plans include a resort-style swimming pool deck with cabanas and chaise lounges, an outdoor kitchen and barbecue area. Indoor amenities will include a fitness centre with dedicated Pilates and strength-training spaces, a co-working lounge, club rooms and a spa.
A nine-story parking garage is also planned as part of the development.
Alta says the residences and shared amenity areas will be finished to the standard of luxury condominiums, positioning the tower within the higher-end segment of Fort Lauderdale’s rental market.
$140.2 million loan advances development
JVP Management has provided a $140.2 million senior construction loan to Alta Developers to finance the development. It is the third transaction between the two companies.
JVP’s financing was originated by Anthony Shaskus, Aaron Jurist and Liam Dai. Shaskus, the firm’s Head of Credit Strategies, said the loan was sourced and structured directly with Alta.
The financing announcement does not disclose the tower’s total development cost, the amount of additional equity required or the loan’s interest rate. Consequently, the $140.2 million facility should not be treated as the project’s full construction budget.
For Alta, the development represents its third residential project in Fort Lauderdale. CEO Raimundo Onetto said the project reflects the company’s continued commitment to the city.
Development team and construction schedule
Kaufman Lynn Construction has been appointed general contractor. With Dorsky + Yue International responsible for architecture and One Line Design Studio leading interior design.
Greystar will manage the property once the tower is completed.
Construction is expected to start in November 2026, with the financing announcement targeting delivery in the fourth quarter of 2028. Alta’s website, however, lists 2029 as the planned completion year, leaving a difference between the two published schedules.
Fort Lauderdale’s rental market provides the backdrop
Alta New River will enter a market that continues to attract new apartment development but is also preparing for additional supply.
A third-quarter 2026 multifamily market report from Matthews recorded 495 units of absorption in Fort Lauderdale during the quarter and a 5% vacancy rate. Average rent reached $2,517, representing a 0.8% increase year over year.
The report also identified 6,284 units in the development pipeline. That incoming supply will create competition for new properties, including Alta New River, as it approaches completion.
Its location near the riverfront, access to downtown amenities and condominium-style facilities will be central to its positioning in that market.
The financing of major luxury residential developments is also advancing in other U.S. markets. In Beverly Hills, California, the 17.5-acre One Beverly Hills development is progressing with two Aman-branded residential towers, a new Aman Hotel and an expanded Beverly Hilton, alongside retail and hospitality facilities. While that project combines branded residences and hotel accommodation, Fort Lauderdale’s Alta New River takes a different approach, adding 400 luxury rental apartments to its downtown market. Both developments highlight continued investment in high-end residential properties, supported by substantial construction financing.
Alta New River Tower project factsheet
- Project: Alta New River
- Location: 100 SW 6th Street, Fort Lauderdale, Florida
- Developer: Alta Developers
- Building height: 35 stories
- Residential units: 400 luxury rental residences
- Average residence size: Approximately 840 square feet
- Construction financing: $140.2 million
- Lender: JVP Management
- General contractor: Kaufman Lynn Construction
- Architect: Dorsky + Yue International
- Interior designer: One Line Design Studio
- Property manager: Greystar
- Expected construction start: November 2026
- Target completion: Fourth quarter 2028, according to the financing announcement
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