JVP Management issues $140.2 million construction loan for Fort Lauderdale high-rise
JVP Management has provided a $140.2 million senior construction loan to Alta Developers to fund a 35-story, 400-unit residential tower in downtown Fort Lauderdale.
New York-based JVP Management has secured a $140.2 million senior construction loan for the Alta New River project, located at 100 SW 6th Street in downtown Fort Lauderdale. The financing is designated for the construction of a 35-story tower featuring 400 rental units.
The project is scheduled to break ground in November 2026, with an estimated completion date in the fourth quarter of 2028. The site is situated near the city's Brightline high-speed rail station, providing connectivity between Miami, West Palm Beach, and Orlando. Kaufman Lynn Construction will serve as the general contractor for the build.
This transaction marks the third collaboration between JVP Management and Alta Developers. The development aims to cater to ongoing demand for multi-family housing in downtown Fort Lauderdale, offering amenities such as a fitness center, co-working spaces, and a pool deck.