The Cove Adds 376 Live Local Units to Fort Lauderdale
Pacific Life just bet $74 million that workforce housing can pencil in Fort Lauderdale. The result is 376 apartments replacing a demolished hotel, with 55% of units reserved for teachers, nurses, and first responders.
- The Cove is an eight-story, 376-unit building at the corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale.
- Pacific Life Insurance Company provided a $74 million construction loan, the second major Affiliated project the insurer has financed.
- 207 units (55%) are reserved for households earning up to 120% of area median income, exceeding the Live Local Act's 40% minimum.
The Cove is a strong example of how Live Local, city partnerships, and experienced workforce housing developers can turn a troubled site into…
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