In the bustling heart of Fort Lauderdale, a promising development emerges with a vision to usher in a new era of affordable housing. The Arcadian, an ambitious residential project located at 640 NW Seventh Avenue, represents a significant move toward balancing the city’s housing disparities. With an impressive $84.4 million construction loan secured by the Fuse Group and Boca Paila, the project forms a key part of the city’s vibrant growth. This substantial financial boost is just a portion of The Arcadian’s total estimated cost of $153.4 million. Upon completion, the development will feature 478 housing units, 15,000 square feet of retail space on the ground level, and a vast 212,000-square-foot parking garage with 600 spots to accommodate residents and visitors alike.
What really sets The Arcadian apart is its dedication to affordable housing options. A pivotal component of the project is that 48 apartments will be reserved for families earning at or below 100 percent of Broward County’s median family income. Centennial Bank, the entity behind the construction loan, has further categorized all units of the project as affordable housing. This approach not only fosters inclusivity but also speaks to Fort Lauderdale’s strategic plan for rejuvenating its communities.
A Commitment to Community Growth
At the epicenter of Fort Lauderdale’s dynamic growth, The Arcadian stands as a beacon of progress in the affordable housing sector. This formidable residential venture at 640 NW Seventh Avenue is poised to alleviate the city’s housing imbalances with its well-planned development. Thanks to the formidable partnership of the Fuse Group and Boca Paila, a substantial $84.4 million loan has been secured to propel the $153.4 million project forward.
Destined to enhance urban living, The Arcadian will add 478 housing units, complete with 15,000 square feet of retail space and a massive parking structure sprawling 212,000 square feet, featuring 600 spaces. Its commitment to affordability is unparalleled—designating 48 units for households earning up to the median family income in Broward County. The financing powerhouse, Centennial Bank, has labeled every one of the project’s units as affordable, embodying Fort Lauderdale’s concerted effort to revitalize and enrich its communities through inclusive living opportunities.
