FORT LAUDERDALE, FLA. — Centennial Bank has provided an $84.4 million loan to facilitate the construction of The Arcadian, an affordable housing development located in the Sistrunk District of Fort Lauderdale. Sunshine Shipyard LLC, an affiliated company of a joint venture between Fuse Group and Boca Paila LLC, was the borrower and developer.
Situated at 640 NW 7th Avenue, The Arcadian will comprise 478 apartments. The property also includes 15,000 square feet of ground-floor retail and a 212,000-square-foot parking garage. Units will be available to households earning between 100 and 120 percent of the area median income.
Community amenities include a pool, bicycle racks, fitness center, pickle ball court, outdoor movie theater-size screens, playground, clubrooms, kid’s room, business center, package room, lounge and pet park. Construction is underway and slated for completion in under 20 months.