Cymbal DLT in the News

Developer Asi Cymbal has a new vision for a modern three-tower project slated for a slice of paradise south of the New River, not far from downtown Fort Lauderdale’s historic rain tree.

Nautica Residences and Hotel, first unveiled in 2022, originally called for a 50-story condo tower with 241 units; a 39-story apartment tower with 454 units; and a 32-story hotel with 155 rooms.

The latest plan calls for a 37-story condo tower with 200 units; a 30-story apartment tower with 360 units; and a 30-story hotel with 119 rooms. The 4-acre project includes a restaurant, cafe and a 90-slip marina with yacht valet.

Fort Lauderdale’s Planning and Zoning Board is expected to vote on the plan in mid-August. The project will also require a commission vote.

The riverfront site at 400 SW Third Ave. — currently home to a restaurant and the Riverfront Marina dry boat storage facility — sits just east of another Cymbal project planned next door: The two-tower Raintree Riverwalk Residences, home to Fort Lauderdale’s historic rain tree.

Together, the two projects comprise what Cymbal is now calling Nautico District, a place to visit, live, boat, work, shop, and be entertained and pampered amid a vibrant yachting scene, as described by Cymbal’s marketing team.

The project brings Cymbal’s total investment in the neighborhood to $1.5 billion.

“We spent two years speaking with the community and city officials to ensure the vision for the Nautico District reflected our conversations,” Cymbal told the South Florida Sun Sentinel. “We adjusted the plans to reflect the market and best serve the community. Once built, the development will rejuvenate the south side of downtown Fort Lauderdale’s riverfront, making it a go-to destination for live-work-play while delivering the last piece of the Riverwalk.”

Cymbal’s Raintree Riverwalk project in the 400 block of Southwest Fourth Avenue calls for 678 luxury apartments in the 400 block of Southwest Fourth Avenue. The East Tower will have 29 floors and the West Tower will have 26. Restaurants, bars and shops will line the ground floor.

Cymbal expects to break ground on Raintree Residences in 2025.

The project initially sparked a public outcry, with residents from all over town worried the century-old rain tree might be lost to development.

Cymbal promised the city he’d do all he can to save the raintree, the largest of its kind in the continental U.S.

The tree, with a sprawling 130-foot-wide canopy, was moved closer to the New River a year ago. If it dies within five years of being moved, Cymbal will be required to pay the city $1 million.

So far, the 750-ton tree appears to be doing well in its new home closer to the water’s edge, Mayor Dean Trantalis says.

“The rain tree is actually thriving and looking in much better shape than before the move,” Trantalis said Tuesday.

The mayor says he’s more worried at this point about the potential of a bridge needed for commuter rail destroying downtown’s bustling vibe.

Cymbal’s Nautica project is partly in the way of the proposed bridge.

County officials have said they prefer a $500 million bridge to a tunnel because it would save taxpayer money.

Trantalis is pushing for a tunnel to get commuter trains across the New River, saying a bridge would simply ruin downtown.

“A tunnel would have minimal impact on this project,” Trantalis told the Sun Sentinel. “A bridge would totally destroy the value of the project. The bridge would probably run within feet of the east side of the building. Putting a bridge through the spine of the city makes no sense whatsoever.”

Commissioner Warren Sturman, whose district includes the neighborhood, could not be reached for comment.

Vice Mayor Steve Glassman says he plans to listen closely to what members of the Planning and Zoning Board have to say when they vote on the Nautica project. He agrees that a bridge would ruin the project.

“There is no way you can do a bridge with this project,” Glassman said. “You just can’t. But you can do a tunnel. A tunnel alleviates all those problems.”