MORGAN AND J.P. MORGAN OPEN UPSCALE PEARL FLAGLER VILLAGE IN FORT LAUDERDALE
Houston, TX, February 20, 2019– MORGAN, a Houston-based leader in upscale multifamily development, construction and property management with a regional office in Miami, and institutional investors advised by J.P. Morgan Asset Management have welcomed their first residents at Pearl Flagler Village, a 350-unit urban rental community. Located at 400 NE 3rd Ave., this is MORGAN's second project within the burgeoning Flagler Village neighborhood. The architectural theme of this mid-rise community is designed to reflect the artistic FAT (Flagler Arts and Technology) Village just to the west.
Pearl Flagler Village offers an exciting combination of high-quality finishes and unique live/work/play/workout amenities that include modern spaces for social gatherings, fitness, business and relaxation. The resident business center contains a vast collaborative workspace, private office cubbies and a conference room. Additional spaces include a media lounge, warming/presentation kitchen, a state-of-the-art fitness center with yoga studio, mailroom with parcel lockers, and a one-of-a-kind AquaLounge complete with cabanas and fire pits. Outdoor amenities feature covered seating areas with gas grill stations, a dog park and a heated salt-water pool. The pool courtyard, surrounded by units on three sides and open to the south, provides the maximum amount of sun exposure during the day and views of downtown at night.
The new community's unit mix includes 12 studios, along with 238 one-bedroom, 80 two-bedroom and 20 three-bedroom apartments. Six of these are almost 1,700 square feet and contain three bathrooms, which is unique for the market. Also included is a small component of live-work units and commercial flex space fronting NE 3rd Ave.
Pearl Flagler Village sits just a few blocks east of the Brightline/Virgin Express train station, allowing residents to connect to West Palm Beach and Miami today, and Orlando in the near future. Four blocks to the west lies FAT Village and the MASS District (Music & Arts South of Sunrise), offering museums, cultural attractions and public art displays, all easily accessible from the property.
“Flagler Village continues to prove itself as the premier urban submarket in Fort Lauderdale,” said Regional Vice President Evan Schlecker. “The walkability to high-end restaurants and retail a few blocks south, mixed with the accessibility to the Brightline/Virgin station and FAT Village Arts District, makes our location an urban renter’s dream. The continued development in the area will only strengthen that premise. Retail developers continue to study sites all around us in an attempt to capture the spending strength of the new residents that MORGAN and others are delivering, and we are eager to see what they will bring to the already bustling area.”
MORGAN's other communities in South Florida include Midtown 29, a 20-story, 309-unit mixed-use apartment tower in Midtown Miami, which opened in February 2018, and Pearl Dadeland, a 412-unit apartment building in Miami built in 2017 that currently is being marketed for sale. Cortina III, a 433-unit garden style project in Boynton Beach with 55 townhomes, is scheduled to begin construction in the first half of 2019.
J.P. Morgan Asset Management has more than 50,000 apartment units in the U.S., including more than 4,100 in Florida.
MORGAN is a privately held national developer and manager of Class A multifamily properties. With headquarters in Houston, TX, MORGAN specializes in upscale urban construction and third-party property management across the United States. Since 1988, MORGAN has developed over 20,000 units at a cost of $3.1 billion. For more information about MORGAN, visit www.morgangroup.com.
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $135 billion in assets under management and over 800 professionals (as of September 30, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client's specific objectives. For more information: jpmorganassetmanagement.com
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