Fort Lauderdale, FL - July 28, 2009 – Amera Barron Companies today announced the start of a new phase at Riverbend, South Florida’s first Transit Oriented Development (TOD), which spans nearly 100 acres along Interstate 95 at the western edge of downtown Fort Lauderdale. Riverbend Village, comprising 50 acres on the south side of Broward Boulevard, will encompass office, retail and residential development, complementing Riverbend Corporate Park on the north side of Broward Boulevard, which last year launched Broward County’s first new Class A office submarket in 20 years.
Completion of $25 million in infrastructure has already transformed Riverbend Corporate Park, with a striking entry feature and tree-lined boulevards. The first Class A office building at Riverbend Corporate Park is completed, and two more are pre-leasing. The Company is now poised to invest an additional $35 million in improvements to set the stage for Riverbend Village, according to developers George Rahael and Charlie Ladd. Plans call for a 2-acre lake, water features, grand boulevards and perimeter landscaping to create an Institutional and Office Campus, the first component of the Village.
The Campus will cater to government and institutional facilities, with readily buildable pads accommodating up to 250,000 square feet of office space and a centralized parking facility. The first building planned for construction is a $22.8 million administrative center and offices, which Broward County has committed to purchase for the Broward County Supervisor of Elections. Groundbreaking is slated for fall 2009.
As Broward County’s designated regional mass transit hub, Riverbend will play an integral role in shaping Fort Lauderdale’s future, the developers said. With the I-95 ramp infrastructure and a Tri-Rail station already in place, a proposed east-west light rail connector route on the boards, and its own internal trolley system, Riverbend is designed to be the most accessible destination in the region. “Riverbend’s future Inter-modal Transit Hub will provide seamless transfer between all transit uses, making mass transit in the area a reality,” said Rahael.
Overall, Riverbend will have a mix of 3.8 million square feet of office space, 800,000 square feet of retail space, 550 hotel rooms and 1,250 residences. At Riverbend Corporate Park, the 18-acre first phase now underway will include six, four-story Class A office buildings with a total of 700,000 square feet, and complementary amenities.
The Corporate Park’s initial 67,000 -square-foot Class A office building, opened in 2008, is anchored by Strayer University. Two new office buildings are in pre-leasing, each with 120,000 square feet of space, including 15,000 square feet of ground floor retail and restaurant space. A shared 5-story parking garage will accommodate 900 vehicles.
Located along a redundant FPL power loop served by two substations, Riverbend provides critical infrastructure to keep businesses up and running. The buildings will feature fiber optics and redundant power back up, full impact/low E window systems, and VAV HVAC systems.
Developers Rahael and Ladd, principals of Amera Barron, say Riverbend is a rarity in the regional market. “It puts companies at the heart of Broward’s transportation network, with true Class A space and plenty of room for growth – all minutes from downtown,” said Ladd. At completion, Riverbend is projected to generate over $20 million in annual tax revenues and accommodate employers generating nearly 8,000 jobs.
For more information, call Amera Barron at 954-344-7600 or visit www.riverbendftlauderdale.com.