PMG, in partnership with Greybrook Realty Partners, has broken ground on X Las Olas, their new mixed-use, purpose-built rental project on Fort Lauderdale's New River. The multi-phase project will include 1,200 residential units, 30,000 SF of ground floor retail space featuring restaurants and shops, and a public plaza along the riverfront. Phase 1 will feature a 35-story residential tower with 639 units which range in size from studios to 4 bedroom floor plans; although unit sizes will be on the smaller side. The groundbreaking comes after PMG closed on a $153.0 million construction loan financed by Broad Street Real Estate in July 2017. X Las Olas was designed by Falkanger, Snyder, Martineau & Yates with John Moriarty & Associates (JMA) as the GC. X Las Olas will fall under PMG’s X Social Communities portfolio. Social Communities also known as “XSC” is a new multi-family housing division of PMG geared towards delivering the most fun and convenient living experience at an attainable price point. Amenities include a state-of-the-art fitness center with classes available to residents, smart package lockers, pool, residents lounge, and bike storage. X Las Olas is expected to be completed in 2020.
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