Alta Developers has secured $140.2 million in senior construction financing for Alta New River, a planned 400-unit apartment tower in downtown Fort Lauderdale. The 35-story project, the developer’s third in the city, is under construction at 100 SW Sixth Street, with completion expected in the fourth quarter of 2028.
Key takeaways
The financing supports a large downtown rental development near the New River, Las Olas Boulevard and regional rail service. The project will include extensive resident amenities and a nine-story parking garage.
- JVP Management sourced and structured the $140.2 million loan directly with Alta Developers.
- Alta New River will have 400 apartments across 35 stories.
- Greystar is set to manage the property when it opens.
Financing and project details
The senior construction loan will fund development of Alta New River at 100 SW Sixth Street. JVP Management originated the financing, with Principal Anthony Shaskus, Director Aaron Jurist and Advisor Liam Dai working on the transaction.
Kaufmann Construction is the general contractor. Dorsky + Yue International is designing the building, while One Line Design Studio is responsible for its interiors. The project is scheduled for completion in late 2028.
Planned amenities and location
Residents are expected to have access to a resort-style pool deck with cabanas and chaise lounges, as well as an outdoor kitchen and barbecue area. Indoor amenities are planned to include a fitness center with dedicated Pilates and strength-training areas, coworking space, club rooms and a spa. A nine-story garage will provide parking.
The site is two blocks from the New River Riverwalk and within walking distance of Las Olas Boulevard. Fort Lauderdale’s Brightline station is less than a mile away, connecting the city with Miami, West Palm Beach and Orlando.
South Florida development context
The project adds to a substantial pipeline of new housing in South Florida. Yardi Matrix data cited in the report shows developers added 6,784 units in the area through August 2026—1.7 percent of existing stock, 40 basis points above the national rate.
Other large projects have also secured financing. In October, Fortune International Group and KAR Properties obtained an $817 million construction loan for the 406-unit Faena Residences Miami, a waterfront condominium project on the Miami River. Fortune International Group and Château Group also secured $463 million from Madison Realty Capital for the 320-unit St. Regis Residences in Sunny Isles Beach.