NoLA stands for North of Las Olas, the site of the planned loft-style homes. The project, to be built in two phases, will consist of 107 lofts in 11 stories and will include a three-story parking garage. The lofts range in size from 800 sf to 1,430 sf. The units, which include one to 2 1/2 bedrooms, are priced from $185,000 to $400,000. Penthouses cost $700,000.

Coscan Construction LLC is an affiliate of Coscan Homes, a developer of high-rise condominiums in South Florida. Coscan Homes recently began offering construction services to other developers. "However, the long-range goal of the company is not to become a mega construction firm, but to accept jobs on a selective basis," says Mike Neal, the company's vice president and chief operating officer.

Neal and Jason Robertson, president of Urban Habitat and the developer of NoLA Lofts, co-chair the Hi-Rise Council of the Builder's Association and share a similar vision for vertical development. "NoLA Lofts is a hip, creative product that Coscan is proud to be involved with," Neal says.