A lightning strike set a fence on fire and dropped a power line
Monday's storm dropped a power line. Construction starts on a $74 million project, a development site trades for $25 million, and Dine Out Lauderdale runs on Las Olas through September.
A hard storm rolled over Fort Lauderdale on Monday. One bolt of lightning made itself impossible to ignore. The strike hit electrical wiring on a fence. It set off a fireball that lit up the whole neighborhood. It also brought a power line down. Lightning is part of the deal in August here. August afternoons build fast. This is the kind of thing they can do on the way through. The practical part is simple. Treat any downed line as live. Keep people and pets well back. Let the utility handle it. Storm season still has months to run. It is worth knowing where the flashlights are before the next one arrives. (WSVN)
Dine Out Lauderdale is running on Las Olas through September
Dine Out Lauderdale is under way on East Las Olas Boulevard. It runs through September 30. Some of the city's most popular restaurants are taking part. They are serving prix fixe menus, signature specials and limited-time offers. Two months is a generous window. There is no reason to cram it into one weekend. Pick a Tuesday instead. Park once and walk the boulevard. A prix fixe menu is a low-risk way to try a new place. Las Olas is compact enough to make an evening out of a single block. It is an easy plan on a weeknight. Contact the event organizer for details. (Las Olas Boulevard)
The city's luxury development pipeline keeps growing
Fort Lauderdale keeps stacking new luxury construction. The high end of the market is busy across the city this year. Set that beside the other numbers moving this week. A $74 million construction start. A $25 million land sale. The shape of the year comes into focus. The top of the market is rebuilding the city upward. That changes skyline views. It changes traffic on the streets underneath. It changes what a block near the water is worth. That pace is worth tracking. All of it is useful to know, even if you are not shopping at that price. (Haute Living)
Construction begins on the Cove after a $74 million loan closes
Affiliated Development closed a $74 million loan for the Cove. Construction is now under way in Fort Lauderdale. It is a multifamily mixed-use project. That means housing paired with commercial space. The financing and the start are the part to hold onto. Plenty of projects get announced in this city. Fewer get funded. Fewer still put crews on the ground. This one has done both. A build that size changes a block long before anyone moves in. Expect fencing, trucks and a crane that was not there last month. It will be part of the view for a while. (Yield PRO)
A Fort Lauderdale multifamily development site sold for $25 million
Procacci sold a multifamily development site in Fort Lauderdale for $25 million. It was one of South Florida's top deals of the week. A development site is land bought to be built on. It is not a finished building. Someone paid eight figures for the right to put housing here. That is the signal worth keeping. Land trades before towers rise. This is the trade. What eventually goes up is a separate question. It runs on a separate timeline. Big land deals tend to show up as buildings later. For now, the number says what a Fort Lauderdale block is worth to a builder. (The Real Deal)
A Fort Lauderdale company took full ownership of an AI data center
A Fort Lauderdale company now fully owns an artificial intelligence data center. The site is in Arkansas, bought in a $25 million deal. The building sits a long way from here. The headquarters does not. Data centers are the physical plumbing behind all the AI talk. They are racks of machines that have to be paid for, powered and cooled. A company based in this city just bought more of that. It is a small tell about which industries run their operations from a Fort Lauderdale address. Whether more follow is the part to watch. (South Florida Business Journal)