Alta Developers Secures $140.2 Million for 400-Unit Alta New River in Fort Lauderdale

Coconut Grove-based Alta Developers has secured financing for Alta New River, a 35-story multifamily project in Fort Lauderdale. The tower will hold 400 apartments averaging about 840 square feet, along with a resort-style pool, an outdoor kitchen, an on-site fitness center and a nine-story parking garage.

The developer has secured $140.2 million for the project, which sits on a one-acre site it bought for $20.8 million in 2022. Kaufmann Construction is the general contractor, Dorsky + Yue International is the architect, and One Line Design Studio is handling interiors. Greystar will manage the property once it opens.

The site is at 100 SW Sixth Street in Broward County. Completion is planned for the fourth quarter of 2028. The project is the developer's third residential building in Fort Lauderdale, following Vista Harbor Residences & Yacht Club on the Miami River.

For builders and lenders, the deal shows that large-scale rental financing is still moving forward in Broward County. Teams tracking nearby sites should note the parking and amenity program and the expected delivery timeline.