Canadian immigrant Jean Francois Roy’s development company plans to build a 40-story apartment building near the Brightline passenger rail station in downtown Fort Lauderdale.
OceanLand Investments hopes to build a 392-unit building at 105 Third Avenue NW with a parking podium and a 10th-floor amenity podium, according to a company press release and an OceanLand spokesperson.
Designed by FSMY Architects + Planners in collaboration with AM Studio, the project will include approximately 8,800 square feet of ground-floor retail space, possibly including a restaurant.
In March, OceanLand paid $13.2 million for the development site, which includes adjacent lots at 113 and 117 Third Avenue NW and 110 Fourth Avenue NW. The land is located on the west side of the station.
Construction is expected to start in the second half of 2025, the spokesman said.
South Florida developers continue to unveil project plans even as the Federal Reserve raises interest rates, making construction financing more expensive. Many developers are focusing on multifamily projects, and some are betting on buildings near the Brightline station.
East of Fort Lauderdale Station, the Damaghi family of Great Neck, N.Y., owns two buildings to buy in 2021 and 2022 for a combined $39.4 million, according to records. The family has not announced development plans.
In December, Arnaud Karsenti’s 13th Floor Investments proposed a 300-plus-unit apartment building at 19680-19770 West Dixie Freeway near Ojus Station in Miami-Dade County. Also last year, Yakov Cohen and Shimon Bouskila applied for a 15-story, 261-unit condo project at 2655-2660 Northeast 189th Street, a few blocks south of Ojus Station. blocks.
Founded by Roy in 1990 and headquartered in Fort Lauderdale, OceanLand’s previous project portfolio included 26 condominium, multifamily and senior residential properties and more than 4,000 units, according to a press release. Its projects include The Ritz-Carlton Residences in Fort Lauderdale, Singer Island, Palm Beach and Aqua-branded apartment buildings.
Last year, the company began selling its 94-unit Sixth & Rio apartment building at 501 SE Sixth Avenue in Fort Lauderdale.