Dependable Equities has nabbed a $54 million preconstruction loan for a two-tower residential project in Fort Lauderdale, Fla., the New York-based developer announced. 

CDK Capital originated the bridge financing, with Valley National Bank serving as a participating lender. The financing covers a site at 101 Southeast Seventh Street and 633 Southeast Third Avenue, just south of the Broward County Clerk of Courts building, halfway between the New and Tarpon rivers. 

The 2 million-square-foot development is expected to include 1,460 units, a mix of both condos and rentals, as well as 14,000 square feet of ground-floor retail space. Each tower is expected to rise about 45 stories. 

Construction is scheduled to begin in early 2028. Dependable Equities bought the parcel for $40 million in 2022. 

Dependable Equities, an affiliate of Sky Equity Group, founded by Isaac Schlesinger and Simon Dushinsky, has another Fort Lauderdale project in the pipeline. Called Ombelle, the development will house 754 condos across two 44-story towers. Sales have been underway since 2024. In April, Dwight Mortgage Trust provided a $50 million preconstruction loan.

Updated: The story was updated to include involvement of Valley National Bank.

Julia Echikson can be reached at jechikson@commercialobserver.com.