A Booming CRE and Multi-Family Market Reflects the South Florida Resort City’s Rapid Growth, says NRIA

SECAUCUS, NEW JERSEY, UNITED STATES, March 15, 2022 /EINPresswire.com/ -- Ft. Lauderdale has been a premier spring break destination since the community invented the concept almost 100 years ago. But today, the Florida city is more recognized as a red-hot spot for real estate investment, according to National Realty Investment Advisors (NRIA).

NRIA, a leading developer of luxury residential real estate on the East Coast, describes the beachside city as becoming a nationwide mecca for business and multi-family real estate.

The Fort Lauderdale Downtown Development Authority, in fact, recently released a report that forecasts 20 new urban core developments in the southeast Florida city by 2030. Inside those core developments will be 13,000 new residential units, 600,000 new square feet for shopping and dining, 1.1 million square feet of office space, and 1,000 new hotel rooms.

Rapid population growth matched with a hot job market is behind the forecast, with the Downtown Development Authority reporting that Ft. Lauderdale boasts 65,000 employees in the legal, financial, tech, and engineering fields.

And all of these employees need both office spaces and homes, says NRIA.

The New Jersey-based NRIA will soon begin construction on a multi-family high-rise project that will offer residential space to some of those that need it. In the heart of the downtown district, NRIA’s proposed 388-unit 43-story development is as yet unnamed and will be located at 200 - 210 NE 3rd Street.
There will be restaurant and retail space on the first floor, NRIA says, making for an all-in-one place to live, work, shop, and play for its residents.

NRIA looks forward to adding this much-needed residential and commercial space to the fast-growing area, says Rich Stabile, NRIA’s Senior Vice President of Acquisitions, Construction Management, and Sales.

“The city has put tremendous effort into bolstering downtown, and we are right in the middle of it,” he says. “There are major businesses moving in, and there are leagues of new residents looking for places to live. We can build these places for them, and in a location that is right near attractions like the art museum, the Museum of Discovery and Science, and the new Panther Hockey stadium.”

Construction on NRIA’s downtown high-rise is expected to begin in the Fall of 2022, Stabile says, adding, “We are proud to be a part of the fantastic rebirth that is happening in Ft. Lauderdale.”

About NRIA
With a history of over a decade of delivering the highest quality in construction, NRIA, headquartered in Secaucus, New Jersey, has earned its reputation as one of the leading real estate developers in the nation.

For more information about NRIA, visit www.nria.net.

Dawn Elizabeth Nixon
Repute PR
+1 212-736-0800
cam@reputepr.com

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