The bull market for South Florida real estate has stayed strong through June. Fueled by a second wave of business migration and deep-pocketed buyers looking to relocate closer to the beach, developers across South Florida are continuing their new condo development projects.

This June, Related Group not only announced a new oceanfront condo project in Pompano Beach, but also made a $48 million purchase in partnership with BH Group. Bahia Mar in Fort Lauderdale Beach won critical approvals for developers to move ahead with the landmark, billion-dollar redevelopment and marina. Also, Related and Dezer Development started converting reservations to contracts for the well-received Rosewood Residences in Hillsboro Beach.

Read below to find details on these projects and more in our June 2023 condo new construction market update for Fort Lauderdale and the Palm Beach areas:

— June 2023 – Fort Lauderdale Condo Pre-Construction Market at a Glance

Converting to Contract

• Rosewood Residences – Hillsboro Beach

Approved

• Bahia Mar – Fort Lauderdale
• Diplomat Landing – Hollywood Beach

Planned/Proposed

• Related & Merrimac’s Oceanfront Condo Development – Pompano Beach

Other Updates

• 3000 Waterside – Fort Lauderdale

Watchlist

• Related & BH Group’s $48M Purchase – Pompano Beach
• 200-acre Banyan Cay Hotel and Golf Project Sold – West Palm Beach
  
  

— June 2023 – Fort Lauderdale Condo Pre-Construction Market – Converting to Contract

Rosewood Residences – Hillsboro Beach

Groundbreaking – N/A | Completion – 2026

After exceptional buyer demand, Miami’s powerhouse developer duo, Related Group & Dezer Development, decided to go straight to contract on their latest waterfront condo offering in Hillsboro Beach, just two short months after launching sales. This means buyers can lock in their preferred units right now.

Rosewood Residences marks the first new construction project to rise in Hillsboro Beach in over two decades. Designed by Arquitectonica, the yacht-inspired buildings will rise on the neighborhood’s “Millionaire’s Mile.” Comprising 92 residential units, the 10-story oceanfront midrise building will be home to 70 condos, while the 3-story Intracoastal building will house 22 luxury villas.

Developers tapped the award-winning Dutch firm, Studio Piet Boon to craft world-class interiors at this waterfront project. While the oceafront residences will frame unobstructed eastern views, the Intracoastal residences will open to unobstructed western views. All luxury residences will feature custom Piet Boon-designed kitchens with designer appliances, oversized terraces with glass railings, luxurious private bathrooms with natural stone showers, integrated smart home technology, and more.

Amenities at the waterfront Rosewood Residences Hillsboro Beach will include 11 boat slips (likely at an onsite marina), direct beach access with beach club, a signature oceanfront restaurant, an oceanfront pool and spa, an indoor-outdoor wellness center, a salon, two fitness centers, multiple sports courts including tennis and pickleball, a stylish cocktail lounge and café, a creamery, a game room with virtual reality simulators, and an intimate garden and meditation lounge. There will also be luxury suites for guests and a curated collection of museum-quality art. As with the Rosewood Residences in South Beach, the Hong Kong-based Rosewood brand will be operating and managing all onsite amenities. 

Prices start at $4 million for the Intracoastal villas and $5 million for oceanfront condos, with a choice of two- to five-bedroom residences. 

— June 2023 – Fort Lauderdale Condo Pre-Construction Market – Approved

Bahia Mar – Fort Lauderdale Beach

Securing key zoning approvals this June, developers Related Group, Tate Capital, and Rok Enterprises Inc. can finally move forward with their billion-dollar redevelopment of the 48-year-old Bahia Mar Resort and Marina. With designs by Miami’s award-winning Arquitectonica, the 39-acre site is now approved to carry 350 condo units, 60 condo-hotel suites, 256 hotel rooms, and 88,000 square feet of commercial space.

Occupying a key waterfront peninsula at 801 Seabreeze Blvd, also home to the Fort Lauderdale International Boat Show, the live-work-play destination will be home to five slender, yet curvy towers. The iconic redevelopment will rise with four 21-story condo towers and a 23-story, H-shaped condo hotel along the waterfront.

Highlight amenities at Bahia Mar will include a 254-slip yacht marina, a high-end marina village with restaurants and bars fronting A1A, an 11,000-square-foot waterfront restaurant, a 2-acre waterfront park, a half-mile-long public waterfront promenade encircling the property, and about 7.3 acres of revamped space to host the annual Fort Lauderdale Boat Show. The boat show arena is further expected to feature 160,000 square feet of climate-controlled areas, 41,000 square feet of tent space, a food court, plus multiple retail kiosks.

Owners at this mixed-use waterfront development will be allowed short-term rentals. Developers plan to build the hotel and two condo towers first, followed by the third and fourth condo towers, and ultimately the public promenade.

Diplomat Landing – Hollywood Beach

Approved by the Hollywood Planning and Development Board this June, the two-tower Diplomat Landing can now rise across the street from the Diplomat Beach Resort. Part of the bigger parcel purchased by Trinity Investments and Credit Suisse Management in a landmark deal worth $850 million, developers Related Group and BH Group will be building the freshly approved condo and Hilton-branded condo-hotel. 

Located at 3451-3690 South Ocean Drive, fronting the Intracoastal Waterway, Diplomat Landing will be inclusive of a 38-story, 350-unit condo tower plus a 43-story, 500-key condo hotel. Designed by Cohen Freedman Encinosa & Associates, amenities at this 19-acre site will include a beach entry pool with 14 cabanas, a spa, a health club, a pickleball court, a club room, a business center, and a lounge. While the condo residences will range from 850 to 1,750 square feet, the ground-floor townhomes will range from 1,850 to 2,350 square feet. Diplomat Residences, a condo tower built in 2007, already sits at 3535 South Ocean Drive. 

Follow the link for more details on how Diplomat Landing and more projects will change Hollywood Beach for the better. 

— June 2023 – Fort Lauderdale Condo Pre-Construction Market – Planned/Proposed

Related & Merrimac’s Oceanfront Condo Development – Pompano Beach

Looking to launch sales later this year, Fort Lauderdale-based developer Merrimac Ventures has joined hands with Miami’s Related Group to build a world-class oceanfront condo community. Located at 1350 S. Ocean Blvd., the oceanfront site was approved in 2015 to carry a 92-unit condo tower.

Submitted with revised designs by Coral Gables-based Nichols Architects, the 28-story tower is expected to feature a third-floor pool deck with a bar and cabanas, 4,000 square feet of restaurants, plus access to 27 boat slips across the street. Luxury condos at the oceanfront tower will be starting at 2,033 square feet, with over half the residences planned to have at least four bedrooms. This is the third new, luxury condo development in Pompano Beach for the Related Group, after Solemar and Casamar Residences. 

— June 2023 – Fort Lauderdale Condo Pre-Construction Market – Other Updates

3000 Waterside – Fort Lauderdale

Groundbreaking – September 2022 | Completion – 2025

After adding more land to its parcel in March last year, construction is currently underway at the waterfront 3000 Waterside condo tower in Fort Lauderdale. Designed by Miami’s Kobi Karp and Berrie Architecture Design, the modern glass tower will rise 15 stories with 103 luxury residences. Developed by Canada-based Claridge Homes, this premier waterfront enclave will be built as a five-star, urban oasis, with most residences opening up to expansive Intracoastal and ocean views.

Besides interiors by the award-winning Manhas Design, amenities at 3000 Waterside will include a waterfront restaurant with fine alfresco dining, a resort-style pool with cabanas and BBQ courtyard, a wellness center, a glamorous spa with salt suite, a hotel-inspired lobby with water feature, a club room with golf simulator and billiards, plus a party room with gourmet kitchen. There will also be a dog run and wash, landscaping by Natalie Barranco, 16 for-purchase boat slips, and direct access to the Intracoastal to elevate everyday living.

Prices start in the mid $900s, with a choice of one-plus-den to three-bedroom residences.
 

— June 2023 – Fort Lauderdale Condo Pre-Construction Market – Watchlist

Related & BH Group’s $48M Purchase – Pompano Beach

Continuing their bullish take on prime neighborhoods across South Florida, Miami-based developers Related Group and BH Group snapped up yet another promising site in Pompano Beach. The 3.7-acre parking lot at 20 N. Ocean Boulevard, sold by an affiliate of New York-based developer Chetrit Group, was purchased for about $47.5 million.

Located right on the beach, just south of the city’s popular fishing pier, the site makes it to our watchlist as it seems ripe for development as a waterfront luxury condo. Developers are yet to disclose their plans, but this would be the fourth luxury condo development here for the Related Group.

200-acre Banyan Cay Hotel and Golf Course Project Sold – West Palm Beach

In a historic decision, Denver-based Westside Investment Partners was approved by the U.S. Bankruptcy Court to purchase the 200-acre Banyan Cay hotel, residential, and golf project for a $102.1 million bid. The Colorado-based company was granted approval as it was the only bidder of the incomplete development project. The sale is expected to close by the end of July.

The 2020 Banyan Resort Way parcel stands inclusive of a fully operational, Jack Nicklaus-designed golf course (since 2017) with about 200 members, an under-construction Hyatt-branded hotel, and development sites approved to carry 179 condominium units, 22 villas, plus 28 single-family homes. Construction of the 150-room hotel was stalled due to the pandemic as well as supply chain delays. Westside will be purchasing everything except the single-family home parcel.

Ready to invest or move into a new construction condo in or around the exciting neighborhood of 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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