Supported by the in-migration of wealthy households, developers continued their bullish run in South Florida’s luxury condo market this month. Three new condo projects launched sales, namely Riva Residenze, The St. Regis Resort & Residences Bahia Mar, and Ombelle Residences. While the first two promise to deliver exceptional branded luxury in Fort Lauderdale, the latter will be a landmark address just two blocks from a Brightline station.

Additionally, Tavistock Development kicked off closings at Pier Sixty-Six after receiving their Temporary Certificate of Occupancy (TCO). The Ritz-Carlton Residences in West Palm Beach secured key approvals. And, developer PMG closed on a co-op buyout deal to build the Sage Intracoastal Residences.

Read our October 2024 pre-construction condo market round-up for Fort Lauderdale and Palm Beach below to discover Related Group and BH Group’s latest acquisition in West Palm Beach and details on other updates:

October 2024 – Fort Lauderdale Condo Pre-Construction Market at a Glance

Sales Launched

• The St. Regis Bahia Mar Resort & Residences – Fort Lauderdale
• Riva Residenze – Fort Lauderdale
• Ombelle Residences – Fort Lauderdale

Closings Underway

• Azul Tower at Pier Sixty-Six – Fort Lauderdale

Approved

• Ritz-Carlton Residences – West Palm Beach

Planned/Proposed

• Parkland Tower – West Palm Beach

Other Updates

• Sage Intracoastal Residences – Fort Lauderdale

Watchlist

• Pearl Condos – Palm Beach Shores
• Related and BH Group Acquire Waterfront Dev Site – West Palm Beach

Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Sales Launched

The St. Regis Bahia Mar Resort & Residences – Fort Lauderdale

Groundbreaking – Late 2026/Early 2027 | Completion – N/A

Developers Related Group, Tate Capital, and Rok Acquisitions launched sales for the first phase of Bahia Mar’s mega-redevelopment plan at this year’s Fort Lauderdale International Boat Show. Designed by Arquitectonica, this initial phase will include building two 270-foot-tall residential towers with 80 units each and a 300-foot-tall St. Regis Resort tower featuring 79 condo-hotel units plus 197 hotel rooms. The private residences will range from 2,600 to 3,550 square feet in size.

With interiors designed by London’s renowned Tara Bernerd & Partners, residents are promised the signature St. Regis experience in this beachside sanctuary. Each elegantly appointed residence will feature light-filled, flowing interiors with wraparound glass terraces framing stunning water views – creating the ambiance of a private villa in the sky.

Highlight amenities at this iconic development include a wellness terrace with a sauna and cold plunge pools, a full-service beauty salon, an outdoor pool, a pickleball court, a multisport simulator, a children's entertainment room, a library, a billiards room, private dining rooms, and more – all delivered in true St. Regis style.

Prices start at $5 million for the three- to four-bedroom condo residences and $2.5 million for the one- to three-bedroom condo-hotel units. Follow the link for more information on Bahia Mar’s $2 billion redevelopment plans, or contact us to for more information and to reserve your preferred St. Regis residence in this transformative project.

Riva Residenze – Fort Lauderdale

Groundbreaking – 2025 | Completion – Late 2027

Developer WellDuo, a partnership between Vertical Developments and GCF Development, launched sales for Riva Residenze this October. The project stands out for being the first-ever yacht-branded condo development in Fort Lauderdale, bringing the essence of luxury yachting to a residential setting. Riva is an Italian yacht brand owned by the Ferretti Group and is famous for its legacy of beautifully crafted collection of vessels.

Initially proposed as Ocean Harbor Residences, this exciting condo concept won approval in January and will rise at 3019 Harbor Drive. Owing to its spectacular waterfront location, with the beach across the street, the 20-story building will face both the ocean and the waterway. Units will range from a spacious 2,000 square feet for a three-bedroom to 6,000 square feet for a six-bedroom. 

Built for exclusivity, this Arquitectonica-designed project will feature only 36 single-family home-sized residences and prohibit short-term rentals. Incorporating mahogany, steel, an aquamarine color palette, and timeless styling, Giuseppina Arena will craft each residence to exude the Italian yacht-maker’s signature aesthetic.

Set along 200 linear feet of pristine bayfront, this exclusive retreat will feature a private marina with six yacht slips. Residents will also get to enjoy two pools, an outdoor fitness lawn, a fitness center with a yoga and Pilates studio, a golf simulator, a sky lounge with gourmet catering kitchen and outdoor seating, a private cinema, a cigar room, a wine room, and more. The lobby will also have an art gallery and a Japanese-inspired meditation garden. Further, owners will have access to luxurious cabin suites to host their guests in style. 

Prices start at $3.5 million, with a choice of three to six-bedroom residences. Call, chat, or email us for an expert agent to negotiate your perfect home in this yacht lover’s paradise. 

Ombelle Residences – Fort Lauderdale

Groundbreaking – Fall 2025 | Completion – 2028

Marking one of the largest new developments in Fort Lauderdale, Brooklyn-based Dependable Equities launched sales for its 43-story, 775-unit condo project this October. Masterfully designed by New York’s ODA Architecture, Ombelle Residences will feature two high-rises connected via a parking podium. Located at 300 N.E. Third Avenue, the massive project will be conveniently two blocks away from Brightline’s Fort Lauderdale station and Las Olas Boulevard, the city’s main hub for art, entertainment, and dining options.

Units in this mega-project will range from 465 to 2,618 square feet and feature modern interiors by ODA. Owners at Ombelle will be allowed annual and short-term rentals with a 30-day minimum, but not daily rentals. Using their in-house contractor, developer Dependable Equities will have the competitive advantage of keeping costs low without compromising quality.

With over 100,000 square feet of indoor and outdoor amenities, residents will have access to everything they’d need to lead a holistic and active lifestyle. Standout curations include a wellness lounge, pools with cabanas, a fitness center with a yoga studio and Pilates, indoor pickleball courts, a garden, an arts and crafts studio, a video game room, and a children’s playroom. There will also be a recording studio, a library, a coworking center, a chef’s kitchen with a dining room, a grab-and-go eatery, a 15,000-square-foot lobby, plus 11,000 square feet of retail.

Prices range from the $400,000s to $5 million, with a choice of studios to four-bedroom residences. Get in touch to have our pre-construction expert and reserve your next waterfront home in the Venice of America, Fort Lauderdale. 

Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Closings Underway

Azul Tower at Pier Sixty-Six – Fort Lauderdale

Groundbreaking – Fall 2021 | Completion – Summer 2024

With its first tower completed on time, developer Tavistock Development was granted a Temporary Certificate of Occupancy this Summer and has begun closing on residences in the development’s Azul Tower. Buyers should make the most of this opportunity to close on the last remaining units in this stunning waterfront project that offers direct access to a 164-slip marina plus a promenade with shops and restaurants. Contact us today to learn how.

Designed by Garcia Stromberg, Azul is an 11-story tower home to a refined collection of only 29 boutique residences featuring a private pool each. With its 11-story, 28-unit Indigo tower headed for completion, the complex will offer a total of 57 luxury residences, 31 boutique homes in its two waterfront four-story villas, and a 325-key hotel due for a grand opening in January next year.

Residents of this iconic redevelopment and new construction project will further enjoy access to a dynamic multi-level pool experience, a VIP pool bar with private cabanas, a Technogym-powered fitness center, a lavish spa, a family entertainment lounge, a kids’ club, 42,000 square feet of meeting and event spaces, and much more.

Launch prices for the Azul Tower started at $3 million, with a choice of two to four-bedroom residences. Prices at the Indigo Tower start at $5.5 million, with three-bedroom residences.

Wondering if you can move into your brand-new residence with just a TCO? We recommend reading our blog detailing what is a Temporary Certificate of Occupation and how it dictates your move-in date.

Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Approved

Ritz-Carlton Residences – West Palm Beach

Groundbreaking – Early 2025 | Completion – 2027

With unanimous approval from the West Palm Beach board, developers Related Group and BH Group can now start construction on the city’s first branded luxury condo tower by the water. Rising 26 stories with 138 residences at 1717 North Flagler Drive, each and every unit at this waterfront high-rise will afford ocean views towards the east.

Designed by Miami’s Arquitectonica and with interiors by New York’s Rockwell Group, these stunning residences will reflect the highest expression of Ritz-Carlton in a boutique setting. Units will range from a generous 1,400 to 3,000 square feet. Highlight amenities include a remarkable pool and deck, a world-renowned spa, a fully equipped fitness and wellness center, and much more.

Owners at this waterfront tower will have access to Ritz-Carlton’s most valued services. With no hotel component on-site, residents can experience absolute privacy on one of South Florida’s most tranquil beachfronts. 

Prices start at $2.5 million, with a choice of 1,400 to 3,000 square-foot residences. For a feel of the residences and their unique finishes, call or email us directly for a private showing at the project’s sales center.

Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Planned/Proposed

Parkland Tower – West Palm Beach

Developer Parkland Cos. has proposed building an 18-story condo tower a block west of the waterfront Currie Park in West Palm Beach. Designed by Coral Gables-based architect Behar Font & Partners, the waterside tower will rise at 2015 Broward Avenue with 80 luxury residences and 102 parking spaces. Units will range from 729 to 2,993 square feet in size.

Amenities at this waterside project will include a sixth-floor pool and amenity deck, a gym, an entertainment room, a salon, coworking space, and a reservable suite for visitors.

Parkland Cos. plans to launch sales for the tower in March 2025, subject to approvals. The developer purchased the property, currently housing a triplex, for $1.48 million this June.

Prices expected to start in the $800,000s, with a choice of 55 one-bedroom units, 22 two-bedroom residences, and three three-bedroom penthouses.

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

Sage Intracoastal Residences – Fort Lauderdale

Groundbreaking – Spring 2025 | Completion – 2028

Developer Property Markets Group has successfully closed on a complete buyout of the 16-unit co-op at 900 Intracoastal Drive. This allows them to move forward with plans to construct a boutique tower on the site. Situated just east of the Galleria Mall, all east-facing condos in the new condo building will offer unobstructed ocean views that are perpetually protected by the Bonnet House Museum & Gardens next door.

Designed by Fort Lauderdale-based FSMY Architects, Sage Intracoastal is approved to rise 28 stories with only 44 residences. Designed for exclusivity, the boutique project will feature no more than two units per floor. Units will start at 3,191 square feet with upscale interiors by San Francisco-based BAMO.

Featuring more than 19,000 square feet of indoor and outdoor amenities, residents will be treated to a waterfront pool with a café, a Sage Wellness Spa with steam, sauna, cold plunge pool and treatment rooms, a fitness center, a yoga lawn, a golf simulator, a water-view bar and lounge room, plus more.

Prices start in the mid-$3 million range, with a choice of three- to four-bedroom residences plus home offices. 

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

Pearl Condos – Palm Beach Shores

The 0.65-acre parcel located at 123 Ocean Avenue has been sold for $13 million by developer Deepak Khosa to Miami-based Lionbright Development LLC. The oceanfront site, formerly home to the Seaspray Resort, was intended to carry the Pearl condo project. Proposed as a six-story building featuring only 18 units, sales for the project were launched in May 2023, with prices starting at $3.6 million. We’ll keep an eye out for any future announcements from the Miami-based developer regarding plans for this prime waterfront parcel.

Related and BH Group Acquire Waterfront Dev Site – West Palm Beach 

In our July update, we shared that developers Related Group and BH Group were under contract to purchase a prime waterfront parcel with great development potential, about half a mile from their upcoming Ritz-Carlton Residences. This month, the developer duo finally closed on the 0.8-acre parcel at 2001 North Flagler Drive in a deal that cost them $34 million.

The waterfront property is currently home to a medical office built in 2001. Although zoned to carry a mixed-use project with a maximum height of 111 feet, the duo could get a height approval of up to 306 feet by offering public incentives. We will be keeping a watch for further details. 

Keen on purchasing or investing in new construction condos in or around Fort Lauderdale? Call, chat, or email us for expert representation by a local pre-construction condo expert.

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