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Downtown Update continued

• Downtown Fort Lauderdale is becoming a more family • Downtown Fort Lauderdale’s population is growing at a rate
friendly destination with its share of families with children faster than Florida’s other urban centers.
living downtown higher than the urban cores of Tampa, Downtown Fort Lauderdale population growth shows 13,553
Nashville, and Austin.
residents in 2010; 26,083 in 2023; and is projected to be
• RentCafe reports Fort Lauderdale apartments offer more 33,414 in 2028. Population growth from 2024 to 2028 for
living space for families and roommates than in other popular Florida’s major cities is projected to be:
destinations. Apartments in Fort Lauderdale are 8% larger than Downtown Fort Lauderdale: 28.1%
units in Miami and 28% larger than units in New York City. Downtown West Palm Beach: 24.6%
Downtown Miami: 18.9%
• Downtown Fort Lauderdale is the biggest driver for increasing
housing inventory in Broward County. At 2.2 square miles, 4 Downtown Tampa: 18.9%
out of 5 new apartments units being built in Fort Lauderdale All of South Florida: 2.5%
and 40% of new apartments in the development pipeline in • Downtown Fort Lauderdale is increasingly becoming a more
Broward County are based downtown. kid-friendly destination with its share of residents below the
age of 14 greater than all peer downtowns
Looking Ahead
Share of Downtown Residents Younger than 14
Downtown Fort Lauderdale has a robust development pipeline
of over 50 projects expected to add more than 20,000 new Downtown Fort Lauderdale: 10%
residential units to the city. Downtown Tampa: 9%
Downtown Atlanta: 7%
Whether the launch of WeWork Founder Adam Neumann’s Downtown Nashville: 6%
Flow Fort Lauderdale, or Newgard Developments’ Natiivo Downtown Austin: 6%
short-term rental project, new models for urban living are Downtown West Palm Beach: 5%
launching in our community.
• Downtown Fort Lauderdale has a robust development
With new greenspaces and sky gardens, marinas and restaurants, pipeline ln residential and retail uses, demonstrating strong
art studios and pedestrian plazas, Downtown Fort Lauderdale is investor confidence in the city’s future growth trajectory.
poised to add a wide range of new residential amenities across
established neighborhoods and emerging districts. 50+ new development projects in the pipeline.
20,000+ new residential units are planned.
• Downtown Fort Lauderdale is projected to add more new Apartments – Current Inventory: 11.2K units;
apartments than its downtown peers in Tampa, Austin, and Future Growth: +18,000 units
West Palm Beach combined over the next decade. Condominiums – Current Inventory: 3,000 units;
• Downtown Fort Lauderdale’s population Is projected Future Growth: +2,000 units
to reach 33,000 by 2028, growing at a rate faster than Office – Current Inventory: 9.2M sq ft:
Downtown Miami and Downtown West Palm Beach. Future Growth: +350K sq ft
Retail – Current Inventory: 1.6M sq ft;
• New luxury residential buildings in the development Future Growth: +800K sq ft
pipeline are poised to announce the biggest wave of new Hotel - Current Inventory: 1.5K rooms;
condominium projects in the last two decades. Future Growth: +630 rooms
• Fort Lauderdale’s downtown population increased by 35% • Developers are building entirely new districts in Downtown
from 2020 to 2023. Fort Lauderdale. From restaurants and art galleries to
Compared to its peer cities, DowntownFTL grew at a rate marinas and parks, these projects are creating new and iconic
double Downtown Austin’s, triple Downtown Tampa’s, and destinations for both residents and the community at large.
eight times Downtown West Palm Beach’s. Cymbal DLT’s Nautica Hotel and Residences located on the

• Downtown Fort Lauderdale has 20,000 new apartments New River in the emerging TREDD District will be home to
in the development pipeline, more than downtown Tampa, a 22,000 square foot marina with access to a yacht valet.
Austin, and West Palm Beach combined. This project will be part of Cymbal’s $1.5 billion Nautico
district which will also “include high-end multifamily and
Of the 19,908 units planned for DowntownFTL, about 20%
are currently under construction. condo components, shops and local favorites, a 5-star hotel,
restaurants, fitness and wellness.”

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