Fort Lauderdale’s New and Pre-Construction Condo Update: May 2021
Jun 03, 2021 June 03, 2021
The South Florida real estate market is experiencing an unprecedented buying boom fueled by the normalization of work-from-home practices, the idea of a better quality of life near the ocean and as scores of new businesses are relocating here. And developers across Fort Lauderdale and Miami are responding. As inventory has steadily dropped for the last two quarters, pre-construction projects are the next product to see a surge in demand and developers are responding by stepping up progress.
This May, developers at Fort Lauderdale’s Harbors Edge reported a 70% sell-out in just 2 months after launching sales. Related Group’s Solemar is speeding through for a 2021 delivery. And, there’s speculation of a condo property changing hands. Read on for details on these Fort Lauderdale projects and more in our May 2021 condo pre-construction market roundup:
Fort Lauderdale New Construction Projects that Broke Ground
Solemar – Pompano Beach
Developer Related Group broke ground on its luxury beachfront condos this May in Pompano Beach, just north of Fort Lauderdale on Ocean Boulevard. Shortly after launching sales in September 2020, the project is already 80% sold. This first-of-its-kind project brings unmatched views and luxury to Pompano Beach’s quiet waterfront, along with giving residents access to the Related Living app that allows on-demand, completely contactless communication to all amenities and services.
Designed by the Miami-based award-winning architecture firm Arquitectonica, the 20-story building will feature an undulating façade, evocative of rippling ocean waves. With interiors styled by the globally recognized Meyer Davis Design studio, each of Solemar’s 105 residences will feature luxurious touches such as Italian kitchens with branded appliances, sprawling master baths with soaking tubs, and the latest in smart home tech – all highlighted by the use of muted tones and natural materials.
Each residence at Solemar will come equipped with DARWIN, a Home Wellness Intelligence Network, as well as breathtaking views of the Atlantic Ocean and Intracoastal Waterway and private beach access. Residents will also get access to a host of luxe amenities including sunrise and sunset swimming pools overlooking the ocean, a stunning pool deck, spa treatment rooms, a wine tasting salon, covered pavilion with bar, a club room with multimedia and gaming table, and a 13,000 square-foot terraced green space featuring BBQ grills and a relaxing hammock lounge.
Prices start at $1.5 million, with a choice of 2- and 3-bedroom residences
Other Fort Lauderdale Preconstruction and New Construction Updates
Only 60 days into sales launch and this stunning boutique condo development project is already 70% sold. Designed and developed by Parades Architects, the 5-story, boutique waterfront new construction building will feature an exclusive collection of 10 move-in-ready residences.
Ready for delivery this year, the waterfront low-rise features a modern, future-forward approach to design and technology. All residents will be able to enjoy expansive water views from every vantage point as they move into their crisp, contemporary residence. Amenities include a heated resort-style pool, 6 full-service boat slips for vessels up to 50’, deep-water dockage, complete rooftop solar energy system, germicidal UV lamps in every HVAC system, fully controlled property access, electric car charging spaces, and more.
Prices start at $1.3 million, with a choice of 2-bedroom residences
Breezes at Palm-Aire – Pompano Beach
Technically not pre-construction, but given the seller-friendly climate these days we’re keeping an eye on all the properties that could potentially turn up on the pre-construction roll. This May, New York-based Axonic Properties bought 153 of the 288 units in the complex for $25.4 million – that’s more than half the condos on the property for approximately $166,000 per unit.
The 1987 development features one- and two-bedroom units along with a pool and gym. What remains to be seen is whether Axonic will simply flip the units or buy the remaining to make way for a brand-new development.
Read all of May’s updates on the development frenzy that’s taking over Miami’s condo preconstruction market over here.
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