03 Nov The Adderley to Bring 417 Housing Units to the Northwest Neighborhood
On November 2, 2022 a celebratory groundbreaking ceremony was held with City of Fort Lauderdale officials to mark the commencement of construction on the Adderley Apartments. The mixed-use multi-family development will be located in Fort Lauderdale’s Northwest neighborhood at the intersection of Sistrunk Boulevard and Avenue of the Arts. The development is named in honor of the late, great jazz artist Julian Edwin “Cannon Ball” Adderley.
The Adderley will consist of two 6-story residential structures with a mix of studios, 1 &2 bedroom apartments and townhomes. The transformative development will offer 417 rental units for working individuals and families. Of the homes, 10 percent will be set aside for affordable housing for families with incomes not to exceed 100% of the Area Median Income (AMI). The units will range from 454 square feet to 1,754 square feet for the largest townhouse.
The development will also include 15,027 square feet of retail space, 11,000 square feet of amenity space and a 8-story parking garage with 549 spaces. Amenities include a gym, pool, leasing office, fitness center and two-lane bowling alley.
The Adderley is a recipient of a $12 million incentive loan from the Fort Lauderdale CRA Development Incentive Program (DIP). The objective of CRA incentives is to attract private investment, encourage economic growth, job creation and enhance the quality of life for citizens within the CRA area.
DIP is a custom designed incentive to meet the appropriate needs of a specific development project in the CRA area that represents an investment/total project cost of $5 million dollars or more and creates a significant economic engine or destination project in the CRA area. The Adderley is estimated to represent a total capital investment of $103.7 million and is a catalytic project for the Sistrunk corridor and Northwest neighborhood.
The mixed-use development will replace a now empty vacant lot located within the Dorsey Riverbend neighborhood that is located along Avenue of the arts and Sistrunk corridor. It will also be the largest residential project to come in the neighborhood.
The project was formerly called West Village, however after meeting with the community, the developers chose to rename the project the Adderley. In honor of the jazz musician Cannonball Adderley, who came from the Northwest community and taught as a band instructor at Dillard High school in the 1940s and 1950s. The Adderley will also incorporate art to pay homage to its location along Avenue of the Arts. 1 Percent of the construction cost will be dedicated to the Art in Public Places initiative as well as a semi-public courtyard.
The Adderley is being developed by Altis Cardinal Living and Vertex Construction.