FORT LAUDERDALE-NoLA Lofts, a $20 million loft condominium project being developed downtown here has received a $9 million construction loan through Fidelity Federal Bank & Trust of West Palm Beach, FL. The interest is at prime rate, according to Jason Robertson, president of Urban Habitats, the project’s developer.

NoLA Lofts, which stands for North of Las Olas, will be located at 313 N.E. 2nd St. It consists of 107 loft units on 11 stories with expansive ceilings of glass, light, industrial steel I-beams, stained concrete flooring and balconies with perforated aluminum railings. A three-story parking garage for the building also is being constructed.

Loft units range from one-bedroom, one-bath condominiums to two-bedroom, three-bath units. They average 800 sf to 1,430 sf. Units are priced from $185,000 to $400,000, while penthouses start at $700,000.

“The price point is great for the downtown worker, and first-time home buyers are thrilled not to have to pay rent any longer just to live downtown,” Robertson said.

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