Stiles Delivers 'Downtown in Abundance' with New Apartment Community in Fort Lauderdale
Posted on 9/15/2020Stiles Residential Group, a leading luxury multifamily developer and division of 69-year-old South Florida real estate firm Stiles, today unveiled Novo Las Olas (Novo), a 341-unit apartment home community located in the heart of downtown Fort Lauderdale that will feature the city's first GreenWise Market, which is owned and operated by Publix Super Markets, Inc.
Novo is part of The Main Las Olas, the new landmark 1.4 million-square-foot mixed-use community that spans a full city block between 201 East Las Olas and SE 2nd St., and includes a 357,000-square-foot Class A office tower currently under construction. The Main Las Olas is a joint venture between Stiles and San Francisco-based Shorenstein Properties LLC. Stiles Construction is the project's general contractor.
"This building offers a unique urban living experience that will be new to downtown Fort Lauderdale," said Jeff McDonough, President of Stiles Residential Group. "This is the only apartment community where residents will be an elevator ride away from a grocery store that offers a wide variety of specialty, natural and organic products — a huge amenity to our residents. Novo was designed to deliver a luxury urban living experience with incredible convenience, not only because of its connectivity to all The Main Las Olas has to offer, but also because everything you love about Las Olas is right at your doorstep."
Novo has begun accepting applications for pre-leasing of their premier apartments and virtual tours are being offered. Construction is nearing completion with first move-ins expected in November 2020, which coincides with the anticipated opening of GreenWise Market. More information on leasing can be found at www.NovoLasOlas.com.
"Over the past year, downtown Fort Lauderdale's nucleus shifted west of 3rd Ave. on Las Olas and Stiles' new office and residential developments have led the way with projects including Alluvion Las Olas and The Main Las Olas," said Ken Stiles, Chief Executive Officer. "We look forward to delivering another exciting and diverse residential community to date in this state-of-the-art urban hub that truly embraces the city and exudes style and luxury."
The only grocer to be located on Las Olas Boulevard, GreenWise Market will help establish a higher level of urban living in downtown. In addition to traditional grocery options, this new 28,000-square-foot prototype store will offer experience zones, which include made-to-order meals and grab and go foods like handcrafted gourmet sandwiches and freshly baked pizza, a sushi bar, a curated selection of wines and imported cheeses, and a beverage area featuring locally roasted coffee, wine and beer on tap and other selections to enjoy while shopping or relaxing at the bar.
Built for convenience, residents will be able to access GreenWise Market without having to go outside. Going one step further, several residential amenities have been curated to pair with the grocer's offerings, such as the community's outdoor pizza oven on the amenity deck, allowing residents to take-and-bake their own pizza dough from the market to home. In addition, Novo residents will have immediate access to The Main Las Olas and retail shops and restaurants at the ground level.
Novo will offer vibrant yet undeniably welcoming and livable spaces with a wide array of outstanding amenities. Unit sizes range from 600 square feet to 1,400 square feet across studio, one, two and three bedrooms, and feature flexible living spaces and floor-to-ceiling windows to maximize views. Apartments offer premium finishes, including quartz countertops, soft-closing cabinet doors and drawers, wood plank style flooring throughout the units, stainless steel appliances, full-size washers and dryers, private balconies and terraces, and electronic locks.
Features and amenities include 24-hour concierge, a Sky Terrace and Lounge capturing panoramic views of the skyline, a resort-style pool area with fire pit, cabanas and gaming areas, outdoor entertainment pergola with grills, pizza oven, green egg grills, and areas for gathering. The state-of-the art fitness center will offer strength training, TRX system, cardio machines, and a yoga/group fitness studio with on-demand classes. Other amenities include a co-working lounge, club room, 24/7 package access, and secure bike storage with bike repair equipment. In addition, pets will be treated like royalty with an artfully designed dog park and grooming/wash station.
The apartment community will be managed by Greystar, a global leader in rental housing services. Founded in 1993, Greystar manages over 693,000 units/beds with $35.5 billion assets under management globally.
Toni Rials, Greystar Senior Director of Real Estate commented, "With the office just a few steps away, you can head home for lunch and play a round of fetch with your dog in the dog run or squeeze in an episode of your favorite show. At Novo, residents will be able to get uncommonly close to everything downtown offers — the Wharf, the business district, outstanding shopping and dining, legendary nightlife and unforgettable views."
Novo was designed by award-winning architecture design firm Cooper Carry, which has designed numerous iconic buildings on Las Olas.
For more information, visit www.NovoLasOlas.com.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, real estate brokerage services, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 48 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit www.stiles.com or call 954-627-9300.
About Shorenstein Properties LLC
Founded in 1924, Shorenstein Properties LLC is a privately-owned, real estate firm that owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein has sponsored twelve closed-end investment funds with total equity commitments of $8.8 billion, of which Shorenstein committed $723.5 million. The firm uses its integrated investment and operating capabilities to take advantage of opportunities that, at the particular time in the investment cycle, offer the most attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. These funds have invested in properties totaling 67 million square feet in transactions with a gross investment value in excess of $16 billion.
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