Lennar Corp.’s multifamily division has secured a $61.76 million construction loan to commence construction on a 386-unit apartment tower in downtown Fort Lauderdale’s Flagler Village neighborhood. Located at 120 4th Street, the city has signed off for two apartment towers of 25 and 14 stories plus a seven-story parking garage with 543 spaces and a garden deck on top. The units will be made up of a mix of two studios, 184 with one bedroom and 200 with two bedrooms. The funding was granted with a mortgage supplied by Wells Fargo Bank. Lennar bought the 2.2 acre site in 2015 for $12.5 million.
