Construction Begins on The Cove, $74M Workforce Housing Community in Fort Lauderdale

• Construction has started on The Cove, an eight-story, 376-unit residential development at 1055 N. Federal Highway in Fort Lauderdale.
• Developed by Affiliated Development, the project will dedicate 55% of its apartments to workforce housing, exceeding Florida's Live Local Act affordability requirements.
• The developer recently secured a $74 million construction loan from Pacific Life Insurance Co., with the first residents expected by spring 2028.

What The Cove Will Include

Construction is officially underway on The Cove, a new mixed-income residential development at 1055 N. Federal Highway in Fort Lauderdale. The eight-story project will deliver 376 apartments, helping address the growing demand for attainable housing in Broward County. More than half of the residences—approximately 206 apartments—will be reserved as workforce housing for households earning up to 120% of the Area Median Income (AMI). That exceeds the affordability threshold established under Florida's Live Local Act, which requires only 40% of units to qualify for development incentives. The project is being developed by Affiliated Development, a Fort Lauderdale-based firm specializing in affordable and workforce housing throughout South Florida.

What the Development Means for Housing

The Cove represents another significant investment in workforce housing as South Florida continues to face rising housing costs and population growth. By providing more affordable options for middle-income households, the project aims to serve residents who often earn too much to qualify for traditional affordable housing but still struggle with market-rate rents. The development also highlights how developers are utilizing the Live Local Act to accelerate housing production while increasing affordability beyond the program's minimum requirements.

What Is Happening at the Site

The 1.82-acre property previously housed a hotel that operated under several names over the years, including The Link Hotel and Clarion Inn. The former hotel has since been demolished to make way for the new residential community. Affiliated Development recently secured a $74 million construction loan from Pacific Life Insurance Co. to finance the project, allowing construction to move forward. Site work and vertical construction are expected to take approximately 20 months, with the first residents anticipated to move in during spring 2028.

What the Developer Says

The start of construction marks another milestone for Affiliated Development, which has focused on expanding workforce and affordable housing across Florida. By delivering more affordable homes than required under state law, the project reflects the company's strategy of combining public policy incentives with long-term community investment. As Fort Lauderdale continues to grow, developments like The Cove are expected to play an increasingly important role in expanding housing opportunities for working families and essential employees.