Fort Lauderdale & Palm Beach’s New and Pre-Construction Condo Update: September 2022

Fort Lauderdale & Palm Beach’s New and Pre-Construction Condo Update: September 2022

Oct 12, 2022 October 12, 2022

Even with some luxury real estate markets cooling off, developers across South Florida are still building for the luxury housing demand, especially on the beach. This September, we have Motwani’s Merrimac Ventures winning a crucial approval to build its 4-story luxury boutique condos in Fort Lauderdale Beach. Fontainebleau’s Jeffrey Soffer proposed his third beachfront condo in Palm Beach County. And, a parcel with liberal zoning has come up for grabs within minutes of the Brightline passenger rail station.

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


September 2022 – Fort Lauderdale Pre-Construction Condo Market at a Glance



Approved

Proposed

Other Updates

Watchlist


September 2022 – Fort Lauderdale Pre-Construction Condo Market - Approved



530 North Birch RoadFort Lauderdale Beach

Groundbreaking – 2023 | Completion – 2025-26

530 North Birch Road - Fort Lauderdale Beach

Merrimac Ventures will be building a taller luxury boutique condo in Fort Lauderdale’s Central Beach neighborhood, thanks to the City commission’s approval this September. The developer was previously approved to build a 3-story, 21-unit condo tower on the 0.57-acre site in 2019.

Based on strong demand for oceanside luxury housing, developer Merrimac Ventures added the following to its original plans:

  •  a fourth floor
  • 11 units
  • 20 parking spaces, up from 48 to 68

The boutique condo development is now approved to rise 4 stories with 32 luxury residences a block from the oceanfront. The 0.57-acre site is currently home to a 14-room hotel plus a parking lot.

Designed by Fort Lauderdale-based Adache Group Architects, the average condo size has been reduced by 20 percent to about 2,300 square feet. The developer commented that this will help create a more affordable product close to the beach. Amenities could include a pool, a fitness center, a game room, and a club room.

With preconstruction sales likely to start this winter, more details are expected to follow soon.

Prices are expected to top $1,000 per square foot.


September 2022 – Palm Beach Pre-Construction Condo Market - Proposed



Jeffrey Soffer’s Beachfront Condo – Tequesta, Jupiter

Jeffrey Soffer’s Beachfront Condo – Tequesta, Jupiter

After giving Miami two of its most iconic properties, the Turnberry Ocean Club Residences and residences at the Fontainebleau, billionaire Jeffrey Soffer has turned his attention to Palm Beach County. Partnering with Phil Perko of Jupiter, Jeffrey Soffer via his Aventura-based Fontainebleau Development has proposed building an oceanfront luxury condo in Tequesta.

Fontainebleau submitted plans for a brand-new beachfront, 34-unit, 10-story ultra luxury development at 250 Beach Road this September. The Arquitectonica-designed project will replace the 8-story Regency Condominium built in 1969. The 40-unit condo building had been undergoing repairs in recent times. The developer duo bought out all its units in August for roughly $100 million and terminated the condo association.

Perched on 3.3 acres of premium oceanfront, the new condo tower will feature units ranging from 4,155 to 5,424 square feet in size. Amenities will include two private pools on the roof, an oceanfront pool, a barbecue area, a kitchen and dining room, a paddle ball court, plus a kid’s club.

This $62 million development would be the third beachfront condo in Palm Beach County for Soffer and partner Phil Perko.


September 2022 – Fort Lauderdale Pre-Construction Condo Market - Other Updates



The Ritz-Carlton Residences – Pompano Beach

Groundbreaking – Fall 2022 | Completion – 2025

The Ritz-Carlton Residences – Pompano Beach

Developers Fortune International Group and Oak Capital announced their Ritz Carlton-branded, ultra-luxury, dual-tower project will break ground this Fall. 75% sold in just 9 months of launching sales, the strictly residential towers received an overwhelming response.

Designed by Revuelta Architecture International and Italian starchitect Piero Lissoni, the two Ritz-Carlton towers will stand separated by South Ocean Boulevard – with one facing the ocean while the other faces the Intracoastal waters and private marina. Together, they will represent Pompano Beach’s most expensive luxury address yet.

Perched on a 4.5-acre site, the 14-story Marina Tower will be home to 88 luxury residences while the 32-story Beach Tower will be home to 117 ultra-luxury residences. The stunning towers will make a unique Ritz Carlton property as there will be no hotel on site and all residences will feature exquisite water views.

Rising against 250 linear feet of water frontage, each tower will feature fully-finished residences with spacious floorplans. All residences will come outfitted with Italian-designed kitchens, top-of-the-line appliances, laundry rooms with full-size washers and dryers, plus walk-in closets in all primary bedrooms.

The highly-amenitized Ritz Carlton Pompano Beach will feature over 35,000 square feet of resort-style amenities with curations by master of contemporary design, Piero Lissoni. Residents will gain access to a private marina Yacht Club, an oceanfront Beach Club, tropical pool decks, multiple sports courts, indoor-outdoor social areas, an on-site restaurant, and much more. There will also be stellar Guest Suites, available for the exclusive use of friends and family of the residents.

Prices start at $1 million for marina-front residences and at $3.5 million for oceanfront residences.


September 2022 – Fort Lauderdale Pre-Construction Condo Market - Watchlist



Historic Hollywood Beach Resort Condo Termination - Hollywood Beach

Historic Hollywood Beach Resort Condo Termination - Hollywood Beach

If New York-based developer Chetrit Group has its way, the Historic Hollywood Beach Resort condo association will be terminated to make way for something new on the beach. Seated on 10 acres of prime beachfront at 101 N. Ocean Drive, the condo-resort features direct access to the famous Hollywood Beach Broadwalk.

Built in 1925 by city founder Joseph Young, the condo-hotel is one of the oldest structures in the city. Although it does not have an official historic designation, the building has been featured in several documentaries. It is also due for its 40-year recertification inspection and has not been renovated in years.

Looking to redevelop the property, the New York-based Chetrit Group is pushing for a vote to change the association’s bylaws so that the condo association may be terminated with approval from 80% of owners, instead of 100%. An affiliate of the group has already acquired 258 condos plus commercial space in the building that is home to 360 residential/timeshare units. Initial concepts for the new development are expected to be revealed in 2023.


Bids Open for 4-acre, Liberally Zoned Parcel - Fort Lauderdale

Bids Open for 4-acre, Liberally Zoned Parcel - Fort Lauderdale

Starting at $52 million, the state of Florida will open bidding for a downtown office building and an off-site parking lot next month. The 4.33-acre parcel will include the 5-story Robert Hayes Gore State Office Building, at 201 W. Broward Blvd., and the 29,185-square-foot parking lot across the street. Built in 1979, the building is home to offices for the state's Department of Juvenile Justice, the Department of Children and Families and Adult Protected Services, the Department of Management Services, and the Bureau of Fire, Arson, and Explosives Investigations.

Located close to Brightline's Fort Lauderdale station and the Museum of Discovery & Science, the site sits in one of the most opportune parts of town. Zoned as a Downtown Regional Activity Center, one of the most open zoning destinations, the site could become home to modern real estate including residential units, office, medical, hospitality, entertainment, and retail components.

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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