Reprinted from South Florida Business Journal
Asi Cymbal’s three tower Marina Lofts rental project on Fort Lauderdale’s New River and the relocation of the rain tree on the project site have received approval from city commissioners.
After about six hours of debate, at about 3 a.m. Wednesday, city commissioners voted 4-0 to approve the development. Mayor John Seiler, Vice Mayor Bruce Roberts, and Commissioners Dean J. Trantalis and Bobby B. DuBose voted to approve the project. Commissioner Romney Rogers abstained.
The city commission also voted 3-1 to approve the relocation of the rain tree, with the developer covering the costs. The rain tree relocation was controversial, with protestors voicing concerns that the tree could be harmed.
“We are firing on several cylinders,” Cymbal told the Business Journal. “We are going to start preparing the rain tree for relocation, finalize the construction plan, and reach out to sub-contractors and contractors to finalize pricing on the project.”
He said the tree would be moved 150 feet from its current location into a dedicated park of about 10,000 square feet.
The Marina Lofts project is part of a resurgence of interest in the development of rental apartments along the New River, with The Related Group building its own multi-family project next to Marina Lofts. The Marina Lofts, which Bjarke Ingels designed, has been viewed by some as a catalyst for more investment in the area.
Oscar Pedro Musibay covers real estate.