The Riverwalk Residences is a new high rise building coming to Las Olas. The photo provided is the building that currently sits on the property site and a rendering of what’s to come.

The Fort Lauderdale City Commission unanimously approved Riverwalk Residences of Las Olas, a senior and assisted living complex planned for downtown Fort Lauderdale.

The commission approved the project on Tuesday, according to a press release. Ocean Land plans to build a 42-story, 401-unit tower with 152 assisted living residences and 57 memory care units. The building will sit on a 33,000-square-foot site at 333 North New River Drive East.

Borges + Associates Architects is designing Riverwalk Residences, which will include restaurants, hotel rooms, a rooftop bar, a full-service spa, fitness center, virtual sport rooms, a theater and an outdoor pool. The complex will also offer on-site doctors’ offices, adult care centers and physical therapy for residents.

Ocean Land submitted plans for the $175 to $200 million luxury senior apartments in March.

A number of projects are in the pipeline in the Las Olas neighborhood of downtown Fort Lauderdale. In July, Property Markets Group closed a $153.9 million construction loan to build  two residential towers on the Los Olas Riverfront. The first phase of the PMG Los Olas project will add 600 micro residences with a 36-story tower, with an expected completion date in 2020.

Ocean Land also has five Aqua-branded condo projects on East Las Olas Boulevard in its portfolio. – Grace Guarnieri

From The Real Deal Miami via