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Developers to Add Another $45M Tower to Project

MIAMI-Tarragon Realty Investors and Richard D. Zipes changed their plans and want to build a $45 million, 25-story condo, restaurant and retail tower adjacent to three connected condo towers already under construction. The Fort Lauderdale project is called Las Olas River House.

By Melissa Bogdany | Updated on February 05, 2003

MIAMI-Developers Richard D. Zipes and publicly traded Tarragon Realty Investors are seeking approval to build another tower adjacent to their three-connected-tower, luxury condominium development Las Olas River House in downtown Fort Lauderdale, FL.

Currently, the initial three towers are under construction, about half completed. Two towers will be 42 stories, and the other will be 34 stories. These connected towers, which will total 280 units and initially were planned to be the entire development, are now considered phase one of the development.

On an adjacent piece of land that the developers purchased several months ago, they had planned to build 12 townhouses along with restaurant and retail space connected to the main towers. But because of overwhelming demand for the condos, the developers now have changed their plans to include another, 25-story tower instead of the townhouses. This tower, which will comprise phase two, will include 44 condo units on the top 22 stories with the first three stories consisting of restaurant and retail space.

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