Categories: Florida Business NewsFlorida News

Infinite Reality to Develop 60-Acre Campus in Fort Lauderdale

Futuristic Technology Campus in Fort Lauderdale

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News Summary

Infinite Reality, an immersive technology media company, plans to build a 60-acre technology and entertainment campus in Fort Lauderdale, creating over 1,000 new jobs with six-figure salaries. Partnering with Sterling Bay, this ambitious project, featuring over 100,000 square feet of office space, aims to transform Fort Lauderdale into a hub for creativity and technology. Construction is set to begin in early 2024, focusing on educational initiatives in collaboration with local institutions to enhance workforce skills in STEM fields and immersive tech.

Florida – Infinite Reality, an immersive technology media company, has announced plans to develop a 60-acre technology and entertainment campus in Fort Lauderdale, projected to create over 1,000 new jobs with an average salary in the six-figure range. The company is partnering with real estate development firm Sterling Bay to co-develop its new global headquarters, aimed at transforming Fort Lauderdale into a leading hub for immersive technology and creativity.

The site, located at 1400 NW 31st Avenue, has been previously designated as a Superfund property, and the new project marks one of the largest investments focused on the creative economy in the area. The campus will include over 100,000 square feet of Class A office space specifically designated for clients in media, technology, and enterprise sectors.

Construction is expected to commence in early 2024, pending the acquisition of necessary permits. The development will introduce flexible spaces aimed at retail, production, digital broadcasting, and various entertainment ventures. Furthermore, Infinite Reality plans to foster educational initiatives in collaboration with local institutions to train and provide employment opportunities in fields such as STEM, immersive tech, and creative production.

The mayor of Fort Lauderdale, Dean Trantalis, has described the project as a transformative investment for the city, highlighting its potential to drive economic growth and job creation.

Infinite Reality has gained attention for its recent financial activities. In January, the company faced scrutiny regarding its claims of raising $3 billion from an unnamed investor, with parts of that funding intended for the establishment of the new headquarters. Additionally, Infinite Reality has made significant acquisitions, including the purchase of Touchcast, a New York City-based AI company for $500 million, and the acquisition of music streaming service Napster for $207 million in March.

The ambitious campus project reflects a growing trend in Fort Lauderdale, as it seeks to enhance its status as a center for innovative technology and entertainment. As the tech industry evolves, the introduction of such large-scale developments is expected to attract more businesses and talent to the region, ultimately benefiting the local economy.

With the expected creation of over 1,000 high-paying jobs and a commitment to local education and training programs, Infinite Reality’s new campus not only signifies a major investment in Fort Lauderdale’s infrastructure but also represents a strategic move towards nurturing a skilled workforce in the immersive tech sector. The project’s success will likely serve as a benchmark for future developments in the region.