FORT LAUDERDALE | Ombelle | 525 + 525 FT | 43 + 43 FLOORS

[Urbannizer]

Ombelle Fort Lauderdale Secures $50 Million Financing as Development Advances Through Pre-Construction

Ombelle Fort Lauderdale, a luxury residential development taking shape in the heart of Flagler Village, has secured $50 million in initial financing from Dwight Mortgage Trust, representing a portion of the anticipated $350 million construction financing. Developed by Dependable Equities, the project is part of a 1.4 million-square-foot mixed-use development shaping one of Fort Lauderdale’s fastest-growing neighborhoods.

The transaction was arranged by The SHB Group, led by Steven Hersko, managing director.

The financing was secured amid strong early sales activity and continued progress across pre-construction efforts, positioning the development for the next phase of execution.

The milestone comes as the development continues to advance through pre-construction, with site preparation activities underway, including initial groundwork and geotechnical investigations and site preparation work. The approach reflects a broader emphasis on thoughtful, intentional development from the earliest stages of the project.

[wanderer34]

Four years later, the Ombelle has seemed to clear a hurdle! It's a nice height and it's close to downtown, so what's the holdup? Get this thing built!!!

[UrbanImpact]

Originally Posted by wanderer34

Four years later, the Ombelle has seemed to clear a hurdle! It's a nice height and it's close to downtown, so what's the holdup? Get this thing built!!!

As an Architectural Project Manager, the hold ups are usually due to financing and permitting (Site Plan Approvals, Environmental Permits, and Building Permits.

[Urbannizer]

Originally Posted by UrbanImpact

As an Architectural Project Manager, the hold ups are usually due to financing and permitting (Site Plan Approvals, Environmental Permits, and Building Permits.

This is common but also the buildings switched from apartments to 775 condominium units. A lot for one project, takes time to hit that 50% mark.

[Urbannizer]

Construction Begins on 754-Unit Ombelle Condo Towers in Fort Lauderdale

Crews have officially begun construction on Ombelle, a two-tower condominium development that is taking shape in the heart of Fort Lauderdale. Proposed by New York City-based Dependable Equities, the project has been in the works since its initial proposal in 2022, and after months of permitting and sales activity, construction has now reached the foundation piling phase. On-site documentation shows crews actively preparing the foundation, marking the first major step toward the project’s eventual rise above downtown Fort Lauderdale.

Located at 316 NE 4th Street, Ombelle is being built on a nearly two-acre parcel that Dependable Equities acquired for $27 million in late 2021. The project has also recently secured $50 million in pre-construction financing from Dwight Mortgage Trust, with the developer expected to obtain additional financing as construction progresses.

When completed, Ombelle’s two towers will rise approximately 525 feet across 43 floors, placing them among the tallest buildings in Fort Lauderdale. The towers are expected to reach their full height around the middle of next year, with completion currently anticipated in 2028.

[UrbanImpact]

Great news! I'm excited that our new tallest is an ODA design.

Skyline shot from the other day that I took from I-95. This will peak out in the left hand side of the skyline: