Even as the luxury condo market has started showing signs of a plateau, the pre-construction market continues to move forward with new projects planned and progress on those already in the works.

This August, developer Claridge Homes announced it would tear down its recently acquired oceanfront hotel in Pompano Beach to make way for a luxury condo project. Developers of the Residences at Pier Sixty-Six in at the causeway to Fort Lauderdale Beach announced they would be launching sales this October. And, the neighborhood around the Hard Rock Stadium in Hollywood can look forward to a sprawling new Town Center with residential, hotel, shopping, dining, and entertainment concepts.

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

August 2022 – Fort Lauderdale & Palm Beach Pre-Construction Condo Market at a Glance

Planned

• 11-story Oceanfront Condo by Claridge Homes – Pompano Beach
• Hard Rock Town Center – Hollywood

Other Updates

• Selene Oceanfront – Fort Lauderdale Beach
• Residences at Pier Sixty-Six Hotel & Marina – Fort Lauderdale

Watchlist

• Stalled Condo Site Sold for $15.5M – Hollywood Beach
• Fractured Condos Sold for $17M – Deerfield Beach
  
  

Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Planned Projects

11-story Oceanfront Condo by Claridge Homes – Pompano Beach

Canada-based developer Claridge Homes plans to replace its recently acquired hotel at 580 Briny Ave. with a brand-new condo building. The developer paid $11.5 million for the oceanfront hotel that was built in 1949. The announcement follows the latest trend of developers buying older and/or oceanfront properties to build their luxury condos as developable land runs scarce in desirable South Florida neighborhoods, particularly waterfront parcels.

Designed by Fort Lauderdale-based FSMY Architects + Planners, the new development will feature an 11-story condo building with underground parking. The boutique building will be home to only 28 residences, ranging from 2,500 to 3,500 square feet. Claridge Homes is also building 3000 Waterside, a very well-received pre-construction condo project designed by Kobi Karp in Fort Lauderdale.

Hard Rock Town Center – Hollywood

Groundbreaking – Q1 2023 | Completion – NA

With the Miami Open tennis tournament, Formula One races, NFL’s Miami Dolphins, the University of Miami Hurricanes football, NFL and NCAA football bowl games, concerts, and more taking place at the Hard Rock Stadium, a group of developers noticed the value of building a 35-acre Town Center close by. Filing a municipal pre-application with Miami-Dade County, co-developers Faith Group, Immocorp Capital, and Azur Equities have proposed to build a new Hard Rock Town Center at 19199 N.W. 27th Ave.

Planned as a mixed-use development, the project is likely to include:

• 720 apartments built in partnership with New York-based Kushner Cos. – split into 250 units for phase 1 and 350-400 units for phase 2
• 270 hotel rooms – branding to be decided later
• 234,000 square feet of retail, restaurant, and entertainment space – of which 20,000-square-foot likely to be a sporting goods store with 100,000 square feet of arcade/bowling
• Two 800-space parking garages

With Ditman Architecture undertaking design duties, the development is anticipated to break ground in Q1 of 2023. We will follow this to see if condos will be included.

Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Other Updates

Selene Oceanfront – Fort Lauderdale Beach

Groundbreaking – NA | Completion – Early 2024

Unveiling its limited collection of penthouses, developer Kolter Urban revealed 8 exclusive residences spanning the top two floors of its latest oceanfront towers. Ranging from 5,892 to 6,630 square feet in size, each of these sky residences will feature sprawling indoor-outdoor living areas, dramatic great rooms, and expansive private terraces with sweeping ocean views.

Bringing Fort Lauderdale Beach its tallest towers, Selene will be a 26-story, two-tower property. Designed by Kobi Karp Architects, the tropical-modern building will be built to maximize ocean and city views at every turn. Its elevated amenity decks too will be positioned to fully utilize the space between the two buildings while maximizing exposure to sunlight. Each of the 196 luxury residences will further feature flow-through contemporary floor plans, interiors by ID & Design International, and 10-foot-deep glass-railed balconies.

Standout amenities include an elevated pool deck overlooking the ocean, a resort-style pool, a 75-foot lap pool, a poolside entertainment area with multiple firepit lounge areas and a shaded pool bar, a theater room, The Wave entertainment lounge with simulated video experiences and card tables, a Seasons gathering lounge, a two-story fitness center, a coworking center, a 5,300 square-foot restaurant, and more. 

Prices start at $1.2 million for condo residences and $10.8 million for the penthouses. Contact us directly for more information on available floor plans, pricing and a private tour.

Residences at Pier Sixty-Six Hotel & Marina – Fort Lauderdale

Groundbreaking – Fall 2021 | Completion – Early 2024

With renovations and construction already underway, Tavistock Development Co. announced that it would launch sales for its luxury condos at Pier Sixty-Six this October. Designed by West Palm Beach-based Garcia Stromberg, the development will feature a reimagined version of the historic Pier Sixty-Six hotel and marina along with two 11-story condo buildings plus two 4-story villa buildings.

Offering a total of 93 units, the two condo towers will feature 31 boutique condos each plus 31 boutique villas in the shorter waterfront buildings. Besides direct access to the marina, residents will also get to enjoy amenities like a promenade with shops and restaurants, a dynamic multi-level pool experience, a lavish spa, a Technogym-powered fitness center, a kids’ club, family entertainment lounge, 42,000 square feet of meeting and event spaces, and much more.

Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Watchlist

Stalled Condo Site Sold for $15.5M – Hollywood Beach

GSK Hollywood Development Group sold its 1.24-acre parcel, inclusive of 321, 325, 329, 333, and 337 Jefferson St. plus 901 S. Ocean Drive, to Hollywood Moon Development this August. The parcel lying one block west of the beach was sold for $15.5 million.

Although GSK Hollywood initially had plans to build a 15-story condo on the site, the city’s 65-foot height restriction stalled the project. Affording stunning views of the beach and Intercoastal, the site is currently zoned to hold 48 two- and three-story homes. It remains to be seen what Hollywood Moon Development decides to bring to this highly opportune site.

Fractured Condos Sold for $17M – Deerfield Beach

Another fractured condo complex has been bought for roughly $17 million as developers fan out in search of buildable land. Built in 1975 and converted into condos in 2007, a majority of the units at Deerfield Gardens are now under the possession of GEM Deerfield Gardens LLC.

The LLC purchased 96 condos for $16.5 million and later picked up three more condos in another deal worth $520,000. With ownership of 99 of the 108 units at 5340 N.E. Fifth Terrace, the LLC now has the choice to terminate the condo association and either revert the building into an apartment complex or tear it down to make way for a new condo development.

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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