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Omni Development to Begin Work in June on $100 Mil-Condo

FORT LAUDERDALE, FL-The New York-based developer is partnering with Tarragon Realty Investors to build what is about to become the largest skyscraper in this oceanfront city, 26 miles north of Miami.

By David R. Corder | Updated on March 12, 2001

FORT LAUDERDALE, FL-Omni Development Co. Inc. expects to begin work this June on a 42-story, $100-million condominium project in a joint venture with Tarragon Realty Investors Inc. The Albany, NY-based development company started planning on the Las Olas (Boulevard) River House project about 18 months ago and then joined in a venture with Tarragon Realty, a New York-based real estate development and acquisition company that trades on the Nasdaq.

“This is really going to be the focal point of Downtown,” Richard D. Zipes, Omni Development president, tells GlobeSt.com. “The building as approved will be the largest building in the city. It’s really going to help the urban landscape, and this is all about urban living.”

The partnership with Tarragon and its president, William S. Friedman, expects to sell out by the anticipated construction completion date in summer 2003 because of the project’s two-acre location on the city’s New River. Reservations are now being taken.

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