FORT LAUDERDALE, FL—The Morgan Group is returning to South Florida's multifamily development scene. The company just broke ground on a 331-unit midrise multifamily development in in Flagler Village.
The multifamily site fronts Federal Highway. It marks the return of Morgan to South Florida and the company's first development within Broward County.
"It's great to be back in south Florida," says Morgan chairman and CEO Mike Morgan. "We were very active in the area until the late 1990s and are looking forward to growing our presence here once again.”
Morgan acquired the site, which is located just north of the Las Olas River in Downtown Fort Lauderdale, in December 2012. First move-ins are projected for Summer 2014.
Richard Buck is leading the firm's regional multifamily development efforts. The firm also recently opened an office in Fort Lauderdale.
“While Morgan has remained active in Orlando and Jacksonville, we knew we wanted to get into this submarket before other developers saw the value that we see in Flagler Village,” says Buck, Morgan's vice president and development partner for the southeast U.S. “The area is ripe for new residential units and amenities that are designed specifically with urban professionals in mind.”
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