Stiles Unveils New Brand of Luxury High-Rise Apartment Homes on Las Olas
Posted on 9/19/2019**Alluvion Las Olas celebrated its top-out on September 13, 2019; Pre-leasing to begin Jan. 2020
Stiles Residential Group, a leading luxury multifamily developer and division of 68-year-old South Florida real estate firm Stiles Corporation, celebrated the topping-out of Alluvion Las Olas — a 380-unit, 43-story luxury high-rise located on the New River in the heart of urban Las Olas in downtown Fort Lauderdale — on Friday, Sept. 13. Stiles Construction is the project's general contractor.
Located at 215 North River Drive East, Alluvion Las Olas will be one of the few luxury apartment home communities situated directly on Riverwalk along the New River. The project is a joint venture between Stiles and PGIM Real Estate, the real estate investment management business of PGIM. Pre-leasing is slated to begin in January 2020 and first move-ins are expected in May 2020.
"Alluvion Las Olas will offer a truly distinctive living experience with an unmatched level of quality, amenities and design," said Jeff McDonough, President of Stiles Residential Group. "We are creating a community that complements the rapidly evolving landscape of Las Olas and exceeds the highest standard of luxury living. Alluvion embodies the energy of the surrounding neighborhood while providing a relaxed, sophisticated atmosphere for residents."
Towering above the city lights at 480 feet, Alluvion Las Olas will stand as the tallest apartment high-rise in Fort Lauderdale — a notable addition to the city's skyline. The building's sweeping views will extend from the New River and downtown all the way to Fort Lauderdale Beach and residents will enjoy direct access to Las Olas Blvd.'s endless array of amenities, including premium office space and world-renowned shopping, dining and entertainment.
Alluvion Las Olas will feature modern finishes and 40 distinct floor plans offering studio, one-, two- and three-bedroom apartments ranging from 600 square feet to over 2,100 square feet. The eighth floor will feature a resort-style pool deck and entertainment area overlooking the New River and connected to lounges and social rooms that promote relaxation and gathering.
Among its most distinguished offerings will be two-story townhome-style apartments at the building's base as well as in the penthouse, all overlooking the river. Penthouse units on levels 42 and 43 will offer up to 2,100 square feet of space with unobstructed views of downtown Fort Lauderdale, the river and beyond.
"PGIM Real Estate and Stiles set out to establish a new bar for luxury urban apartment home living, not only in Fort Lauderdale, but in all of South Florida," said Darin Bright, PGIM Real Estate Managing Director and Portfolio Manager. "Alluvion Las Olas will offer a truly inspired living environment that encourages an active lifestyle and offers residents endless opportunities for entertainment and socialization."
Alluvion's gathering areas offer remarkable views of the New River and Riverwalk below and the building's nearly 40,000-square-feet of indoor and outdoor amenity spaces redefine modern luxury. Amenities include multiple social lounges, a state-of-the-art, 5,000-square-foot fitness center with on-demand classes and studio space for yoga and group fitness, dog park and grooming area, coworking lounge with private offices and conference rooms, secured private garages, and 24-hour concierge, amongst others. The exterior gathering spaces include BBQ areas with lounge seating and fire pits, an event lawn and pavilions, lush landscaping and outdoor dining.
Designed by award-winning architecture design firm CFE Architects, PA, the building's thoughtful design is inspired by the fluid natural beauty of the New River. Alluvion is distinguished by two major components: a 7-story podium, resembling a ship's hull, and the tower, resembling its mast. The podium houses parking and is lined by a mix of apartments and lofts with brise-soleil covered windows evoking a nautical theme. The tower is intentionally positioned to respect neighboring buildings and maximize views to the ocean.
Alluvion will be managed by Greystar, an international leader in multifamily real estate. Founded in 1993, Greystar manages over 400,000 residences and oversees a $14 billion portfolio globally.
For more information, visit www.alluvionlasolas.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 https://www.stiles.com or call 954-627-9300.
About PGIM Real Estate
PGIM, the global investment management business of Prudential Financial, Inc. (NYSE: PRU) ("PFI"), is one of largest real estate investment managers in the world, with more than $173.5 billion1 in gross real estate assets under management and administration, as of June 30, 2019. Through its PGIM Real Estate and PGIM Real Estate Finance businesses, PGIM leverages a 140-year history of real estate lending on behalf of institutional and middle-market borrowers2, a 49-year legacy of investing in commercial real estate on behalf of institutional investors, and the deep local knowledge and expertise of professionals in 31 cities around the world.
PGIM Real Estate, the real estate investment management business of PGIM, has been redefining the real estate investing landscape since 1970. Combining insights into macroeconomic trends and global real estate markets with excellence of execution and risk management, PGIM Real Estate's tenured team offers to its global clients a broad range of real estate equity, debt, and securities investment strategies that span the risk-return spectrum and geographies. For more information, visit pgimrealestate.com.
1AUA equals $34.5 billion.
2Includes legacy lending through PGIM's parent company, PFI.