Developer Cymbal DLT Cos. has revealed the next phase of its Raintree project along the New River in Fort Lauderdale Florida featuring three towers including a hotel and a marina that would bring the cost of the project to about $1 billion. Cymbal DLT Cos., led by Chairman Asi Cymbal, started site work on the first phase of the Riverwalk Raintree Residences in October with 677 apartments and 21,000 square feet of commerce space planned in towers of 28 and 29 stories. The project named the Nautica Residences and Hotel would be located on the 3.82-acre site at 400 S.W. Third Ave. Totaling 2.09 million square feet, the Nautica project would have a 50-story condo with 241 units, 39-story apartment tower with 454 units, a 32-story hotel tower with 155 rooms, 16,700 square feet of commercial space, 13,150 square feet of restaurants, a 4,600-square-foot café, and a marina with 78 dry stack slips and 12 wet slips. There would be 1,582 parking spaces. Amenities would include a pool deck, a spa, a hotel ballroom, a co-working center, a game room, a lounge, a party room, a fitness center and a kid’s room. Cymbal will choose a luxury hospitality brand for the condo, apartments, hotel and marina. Arquitectonica designed the project. Cymbal DLT will be the general contractor. Cymbal will break ground on the first apartment at Raintree Riverwalk Residences in June 2023 and the second phase six months later. Construction of the Nautica project in the first or second quarter of 2024.
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