Meyers Accesso, a partnership between Meyers Group and Accesso, is planning to build an eight-story, 200-unit apartment building called Avery Cypress Creek in Fort Lauderdale’s Cypress Creek neighborhood. The proposed development is located at 6210-6282 North Andrews Avenue.
The joint venture acquired the 2.2-acre site from Double Mountain Development Ventures, whose co-founders and co-CEOs are Fred Burgess and Jack Flechner. The purchase was financed with a $1.6 million loan from Sky 18 Capital. Dave Preston and Jonathan Carter of Colliers represented the seller in the transaction.
Avery Cypress Creek will feature one- and two-bedroom apartments, according to information on Meyers’ website. The project is situated within Uptown Urban Village, an area where city officials have encouraged mixed-use development since the approval of a master plan in 2019.
Other developers have also launched projects in Uptown Urban Village. Grover Corlew is working on Mayla Cypress, a 312-unit apartment complex at 6261 Northwest Sixth Way. Fairfield Residential finished the 295-unit Treo Apartments at 6500 North Andrews Avenue last year. Pinnacle has plans for an affordable housing project nearby, which would include two buildings with a total of 196 units at 6250 North Andrews Avenue.
Meyers Accesso has been active in South Florida. Last year, it completed Avery Lake Worth, a 200-unit project in Lake Worth Beach, and purchased the Atrium at Broken Sound office building in Boca Raton for $25 million. The joint venture was established in 2022.
Meyers Group’s CEO is Alan Losada. The company develops and manages both market-rate and affordable apartments as well as hotels and condominiums. It was founded by Stuart I. Meyers about ten years ago; he passed away this summer at age 83. Many of its multifamily projects use the Avery brand name and are developed using low income housing tax credits distributed by the state.
Accesso was founded over two decades ago by Ariel Bentata, Moises Benzaquen, and Claudio Dombey. The firm has owned or managed more than $3.3 billion in properties across the United States, including more than 18 million square feet of offices and over 1,000 residential units. In January, Accesso acquired Sawgrass Lake Center in Sunrise for $36.5 million—a price that reflected a significant discount compared to its previous sale.
In recent years, Accesso has faced challenges with some of its office holdings in Chicago and Houston.
The South Florida multifamily market has slowed after rapid growth during the pandemic period. Over the past year, there has been slower population growth into the region and an oversupply of apartments, leading to lower rents and slower leasing activity.
Despite these trends, developers argue that demand will rise again by the time new buildings are completed next year or by 2027.
Elsewhere in Fort Lauderdale, Affiliated Development secured an $80 million construction loan earlier this year for The Era—a planned eight-story building with 400 apartments at 2125 South Andrews Avenue—and Fuse Group is developing Arcadian: an eight-story complex featuring 480 apartments plus retail space at 640 Northwest Seventh Avenue.
