Affiliated Pays $15M for Fort Lauderdale Multifamily Development Site

Affiliated Development has acquired a development site in Fort Lauderdale for $15.2 million, approved for a 400-unit apartment building with ground-floor retail. The 2.7-acre assemblage, purchased from entities managed by Robert Lafferty, includes buildings slated for demolition. The site, approved for "The Era," features an eight-story building with apartments, retail space, and parking. Affiliated secured $5.5 million in tax incentives for workforce housing and a property tax rebate from Fort Lauderdale. Workforce housing units will cater to individuals earning between 80% and 120% of Broward County's median household income. Led by CEO Jeffrey Burns, Affiliated has a portfolio of completed and under-construction projects, including The Grand in West Palm Beach. The firm also has developments in Palm Beach County, such as The Pierce in Boynton Beach, which faced construction delays due to a lawsuit.

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