With many families and businesses relocating from high-tax states to South Florida, developers continue their push to produce new luxury condo buildings, most with larger units that offer luxurious residences in the sky, not just condos. 

This June, we had a New York-based developer hopping on the trend, proposing a 9-story condo building in Fort Lauderdale with larger-than-typical units. Another Chicago-based developer also proposed a mixed-use development with larger units in Juno Beach. And, Integra won approval for its two-tower condo-hotel in Fort Lauderdale.

Read below to find details on these and other projects in our monthly condo pre-construction market roundup for Fort Lauderdale this June 2022:

Fort Lauderdale & Palm Beach New and Pre-Construction Condos - Approved

Ocean Park Hotel and Residences – Fort Lauderdale

Approved by Fort Lauderdale’s Planning and Zoning Commission this June, developer Integra Solutions can move forward with its plans for a mixed-use, two-tower project south of Sunrise Boulevard. Perched on a 1.26-acre parcel close to the Intracoastal Waterway, the complex will include an 11-story, 54-unit condo building and a 12-story, 100-room hotel building.

Centrally located near the areas of Birch Road and Sunrise Boulevard, the condo building will feature units ranging from 1,092 square feet to 2,105 square feet. The project’s hotel building will feature 825 square feet of retail space, a 663-square-foot pool bar, plus a 3,210-square-foot restaurant.

Fort Lauderdale & Palm Beach New and Pre-Construction Condos - Planned/Proposed

9-story Condo by New York-based Developer – Downtown Fort Lauderdale

Developer 404 NW 1 LLC, managed by John Russo and Eleonora Hroncich of New York Concrete, has proposed a 9-story condo for 404 N.W. First Ave. Having purchased the vacant lot for $2.65 million in 2021, the developer now plans to build a luxury condo project with larger units on the 0.29-acre site.

Designed by Fort Lauderdale’s Tamara Peacock Co. Architects and New York’s INOA Architects, the 9-story building will rise with 25 condos and 30 parking spaces. Units will range from 1,187-square-foot two bedrooms to 1,725-square-foot three bedrooms. Expected amenities include two private pools on the third-floor terraces plus a rooftop pool with a gym, a yoga room, and a lounge.

Mixed-use Caretta by Chicago Developer – Juno Beach

Submitted to the town’s Planning and Zoning Board, Chicago-based JDL Development has proposed a mixed-use project at 1011 U.S. Highway 1. The 5.4-acre site was approved for a mixed-use project with 98 residential units, plus office and retail components in 2006.

JDL Development is now seeking approval for a four-building project. All of the buildings would rise 5 stories, with one containing all the amenities. Combined, they would feature 96 residential units, 15,319 square feet of retail, 7,786 square feet of restaurants, 500 square feet of outdoor dining, and 352 parking spaces (with 256 spaces in a garage and the rest surface parking).

Units would range from 1,891 to 6,787 square feet in size – all with private balconies. Proposed amenities include a rooftop pool deck, a fitness center, a golf simulator, a lounge, a catering kitchen, and a dog wash. If approved, Caretta would debut as a project worth $200 million.

Fort Lauderdale & Palm Beach New and Pre-Construction Condos - Watchlist

Pair of Apartments Sold for $22.5M – Hollywood

Photo courtesy of apartments.com

A pair of apartment complexes located east of Interstate 95, next to the entrance to Oakwood Plaza, sold for a combined $22.54 million. The sale equated to an average price of $134,167 per unit for the single-story apartment buildings.

Built in 1988, the 8.4-acre site at 2410 Oak Garden Lane houses the 104-unit Oak Gardens Apartments. On the other hand, the 64-unit Oakwood Manor Apartments, built in 1986, are housed at 2500-2654 N. 26th Terrace. Buyers of both properties were Oaks Gardens LLC 72 and SDS Hollywood TIC - both managed by Zvi Korowitz of Chestnut Ridge, New York-based North Point Management Corp.

This sale makes it to our watchlist since developers across South Florida are picking up older properties to replace them with modern, more luxurious condo buildings. Since future plans for the site are yet to be announced, we will be keeping an eye on developments.

Related Group & Alta Development Buy Development Site – Fort Lauderdale

Photo courtesy of Googlemaps

Developers Related Group and Alta Development purchased the 1-acre, rectangular-shaped parcel at 409 Southeast 8th Street this June. Together, the developers paid $15.5 million for the vacant site.

Considering the centrally located site’s proximity to Tarpon River, restaurants, schools, three museums, a Publix, and other conveniences, it seems ripe for a new condo development. We’ll be keeping a close eye on developments regarding this parcel as developers in South Florida, like the Related Group, have amped up efforts to cater to the burgeoning demand for luxury housing in the area.

Ready to invest or move into a brand-new luxury condo in or around Fort Lauderdale? Call, chat, or email us to have a local, pre-construction condo expert guide you to your desired property.

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