(FORT LAUDERDALE, FL) - Hines, the global real estate investment manager, and its partners, Urban Street Development, Cresset Real Estate, Las Americas, Hudson Capital, and Halmos Holdings, have announced that FAT Village, a mixed-use master-planned urban destination, has officially broken ground and is under construction. This 5.6-acre urban development in Fort Lauderdale will reimagine the district and will form an authentic and exciting community at the heart of Flagler Village, introducing new housing, retail, restaurants, Class AA office space, and entertainment. Following the origination of a $220 million construction loan for the project in December, the groundbreaking marks a major milestone in the project’s lifecycle. The project is expected to contribute meaningfully to the Fort Lauderdale economy, attracting significant investor interest, creating thousands of jobs, and solidifying the neighborhood as a top choice for business, dining, and living.
Designed to inspire, connect, and invigorate, FAT Village’s epitomizes modern urban lifestyle offering residents, business, and visitors an unparalleled fusion of functionality, sustainability, and community. Hines and Urban Street Development will bring a variety of uses to FAT Village and its 5.6-acre urban site in Fort Lauderdale’s Flagler Village. The project will deliver more than 850 residential units across three towers, Class AA office space with an industrial character with modern conveniences, more than 80,000 square feet of food, shopping, entertainment, art studios, and galleries, and a 1,200-space commercial parking structure. FAT Village aims to become a lifestyle hub for creatives to live, work, eat, and relax.
"FAT Village is a prime example of our success with delivering transformative, mixed-use destinations that signify an urban revitalization,” said Alan Kennedy, Managing Director of Hines. "FAT Village will pay homage to and retain the neighborhood’s creative spirit and artistic presence while creating a lively destination that will engage the community and enhance Fort Lauderdale’s urban fabric. We look forward to advancing our plans for the project as it becomes a valuable component of the broader Flagler Village community."
For the office component, Hines will bring its mass timber office concept, T3 (Timber, Transit, and Technology), to FAT Village, which will include nearly 180,000 square feet of Class AA creative office space. T3 FAT Village will deliver a new kind of office to the Fort Lauderdale market, featuring an industrial character with modern conveniences, sprawling outdoor spaces, fitness and bike amenities, and state-of-the-art connectivity and building systems. FAT Village currently represents one of six mixed-use placemaking destinations Hines has under development throughout the southeast.
"This is a big step in the evolution of Flagler Village. The new FAT Village will deliver a sense of place for all residents and creative types with much-needed lifestyle retail in one convenient hub," said Alan Hooper, Co-Founder and CEO of Urban Street Development (USD). "With our innovative blend of urban residential, creative office, local food and beverage, and artist workspaces, FAT Village will usher in a new era of modern spaces that will entertain our residents and visitors not only during monthly art walks, which made FAT Village such a beloved part of the city, but every day of the week."
Tim Petrillo, co-founder of USD, is thrilled to see the project progress. “As a passionate supporter of the arts, it brings me great joy to witness the development of this project aimed at preserving and uplifting the art community. We seek not only to enhance the lives of those residing in the FAT Village but to also draw in art enthusiasts from all corners. Through our innovative approach to community building, we aim to create a thriving cultural hub that will inspire and set an example for mixed-use projects in Fort Lauderdale," said Petrillo.
The FAT Village project team is committed to incorporating local culture and history into the development, ensuring FAT Village will remain an integral part of Fort Lauderdale for many years to come.
The project will be constructed in two phases. The first phase will be completed in 2027 and will include the T3 FAT Village office building, 601 apartment units in two multifamily towers, nearly 74,000 square feet of ground-floor retail, and the parking structure. Phase 2 will follow once Phase 1 is fully occupied.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totaling over 270 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.
About Urban Street Development
Urban Street Development (USD) is a creative and forward-thinking entertainment and lifestyle developer that prides itself on putting people first. Led by Alan Hooper and Tim Petrillo, two Fort Lauderdale locals who use their unique experience to understand complex real estate needs and apply creative strategies to achieve dynamic neighborhood transformation, the company has a passion for community revitalization and creating long-term value. With an emphasis on creating places where people and businesses can flourish, Urban Street Development puts the right projects in the right places. Their team of professionals understands the challenges of redevelopment and the possibilities of transformation. The company specializes in all aspects of the development cycle and is committed to creating positive economic impact and positive community relations in the areas they serve. For more information, please visit https://urbanstreetdevelopment.com.
