Construction to Begin on 501 Seventeen, the Latest Mixed-Use Development from Ram Realty Advisors
(FORT LAUDERDALE, FL) – A highly anticipated mixed-use development is just days from breaking ground in Fort Lauderdale, bringing apartments and a Whole Foods Market to the northwest corner of Southeast 17th Street and Federal Highway. Slated for occupancy in Winter of 2020, 501 Seventeen includes an eight-story mid-rise building consisting of 243 apartments adjacent to a six-level, 668-space parking garage, along with 49,071 square feet of grocery retail space for Whole Foods Market.
“The mixed-use asset allows Ram to leverage its decades of dual expertise in multifamily and retail, bringing a unique project to one of the main intersections of the City of Fort Lauderdale,” says Hugo Pacanins, Ram Realty Advisor’s Managing Director-Multifamily. “The addition of a Whole Foods Market store will be truly transformational for the entire area.”
The community is being developed by Ram on a 3.2-acre parcel where a former Denny’s building now resides. 501 Seventeen is within walking distance to the main Broward Health campus and within proximity to Port Everglades, the Greater Fort Lauderdale/Broward County Convention Center, and the Fort Lauderdale-Hollywood International Airport.
Most of the units in the residential portion are one- and two-bedroom, with one-bedroom plus den, two-bedroom plus den, and 3-bedroom units also available. Each unit will feature a contemporary open-concept kitchen with modern cabinetry, stainless-steel appliances, and quartz countertops. Amenities include a club room, co-working space, fitness center, group exercise room, leasing office, and an outdoor pavilion with a resort-style pool and grill courtyard.
The Whole Foods Market commercial space will employ approximately 250 locally hired, full- and part-time team members. Projected to open in Winter of 2020, the new Fort Lauderdale store will be the sixth Whole Foods Market location in Broward County.
“Opening a store at this location is an exciting opportunity for us,” said Juan Núñez, president of Whole Foods Market’s Florida Region. “We are eager to serve the neighborhood and to bring new high-quality grocery offerings to this community.”
Ram, celebrating its 40th anniversary this year, is well-known for creating developments that offer a carefree-yet-sophisticated lifestyle. Its vision for 501 Seventeen is a thoughtful design concept that allows residents to live in luxe brand-new apartments, work in private and shared co-working offices, and enjoy the local flavor and nearby entertainment.
The 501 Seventeen team includes lender Wells Fargo Bank, Roger Fry & Associates Architects, civil engineer Kimley Horn, general contractor KAST Construction, and leasing and property manager 5Ten Management.
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.2 billion of capital. Ram and its predecessor entities were founded in 1978. The Company is headquartered in Palm Beach Gardens, Florida, and has offices in Charlotte and Chapel Hill, North Carolina.
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