MIAMI—Related Group continues pushing ahead in South Florida's commercial real estate revival. The Miami-based developer is calling its New River Yacht Club project a “critical element” to complete Fort Lauderdale's Riverwalk neighborhood.

Here's why: New River Yacht Club offers 249 luxurious rental units to the mix. The multifamily project rises 26 stories on the south bank of the New River in the heart of Downtown Fort Lauderdale. Related expects it to energize that section of the historic urban community.

“Retail and restaurant businesses on the north side of Riverwalk are thriving, and our elegant new apartments are the first major development to be completed on the south bank,” says Patrick Campbell, vice president of development at Related. “They expand the options for those who want to live in this vibrant downtown neighborhood with the Broward Center for the Performing Arts a short stroll to the west, and Fort Lauderdale's city center just to the east.”