Dependable lands $54M loan for Fort Lauderdale towers

Dependable Equities has secured a $54 million loan to advance a two-tower, 1,460-unit residential project in downtown Fort Lauderdale, one of the largest housing developments moving forward in the Broward County seat.

CDK Capital provided the financing for the roughly 45-story twin towers planned at 101 Southeast Seventh Street and 633 Southeast Third Avenue, on a site between the New and Tarpon rivers just south of the Broward County Clerk of Courts building. The project totals about 2 million square feet and includes 14,000 square feet of ground-floor retail. Dependable, an affiliate of Sky Equity Group founded by Isaac Schlesinger and Simon Dushinsky, assembled the land for $40 million in 2022.

Why it matters. Downtown Fort Lauderdale has been one of South Florida’s most active rental submarkets, and a mix of condos and apartments at this scale would meaningfully add to its pipeline. Landing predevelopment capital is a signal that large-format Broward projects can still attract financing even as lenders stay selective on ground-up housing.

The numbers. The $54 million facility supports a project the sponsor bought into for $40 million three years ago, with roughly 1,460 units split across the two towers and 14,000 square feet of retail at the base. The developer has said construction is scheduled to begin in early 2028.

What’s next. The loan funds predevelopment work ahead of that 2028 groundbreaking. If it holds to schedule, the towers would deliver a substantial block of new housing to a downtown core that has drawn steady residential investment through the current cycle.