FORT LAUDERDALE, FL—Greystar has started construction on a new 261-unit, mid-rise multifamily community in Downtown Fort Lauderdale. Dubbed Elan 16Forty, the luxury multifamily project will also offer 2,300 square feet of retail space.

Located at 1640 East Sunrise Boulevard just west of Federal Highway in Victoria Park, the multifamily community will offer one, two and three-bedroom floor plans ranging in size from 686 to 1,599 square feet of living space.

“The location of the community on East Sunrise Boulevard is simply ideal,” says David Reid, senior managing director of Development at Greystar. “Just moments away from the Galleria, area beaches, North Federal Highway and I-95, Elan 16Forty will appeal to residents looking for convenience and an upscale lifestyle.”

Multifamily homes will feature nine- to 11-foot ceilings, spacious walk-in closets and large balconies. Amenities will include a 6,000-square-foot fitness center with cardio and strength equipment, a spin studio, juice bar, and an aerobic room. Also on tap are a resort-style swimming pool, spa, sun deck with cabanas, outdoor grilling stations, and a roof top terrace. The community will also offer a dog park, on-site storage and a parking garage.

“The community will have a sleek modern design with high quality floor plans and amenities reflecting the area's casual, yet sophisticated lifestyle,” says Reid. Construction is expected to be completed December 2014.