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Broward, PB gain traction

Increased development in Hollywood, Fort Lauderdale and West Palm Beach

The recently completed Apogee Beach in Hollywood
The recently completed Apogee Beach in Hollywood

Miami gets most of the real estate headlines, but there is plenty of condo development happening in Broward and Palm Beach counties as well.

Some builders, like Dennis Eisinger, shun Miami altogether for markets like Fort Lauderdale. Eisinger and partner Jean Francois Roy are developing Aqualuna, AquaVita Las Olas and 1800 Las Olas in the city. Overall, downtown Fort Lauderdale and Fort Lauderdale Beach have a pipeline of nine proposed towers totaling 293 units.

Elsewhere in Broward County, Hollywood is increasingly coveted by developers looking to build luxury oceanfront condos. Major players like Related Group and Property Markets Group have current projects in the city. Related’s Jorge Perez felt strongly enough about his company’s recently completed Apogee Beach to spend $2.1 million on a penthouse there. PMG is developing the two-tower, 24-unit Sage Beach in Hollywood.

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Click to enlarge

Click to enlarge

Related also plans to build six condo towers totaling 1,059 units in West Palm Beach, through a partnership with Wayne Huizenga’s holding company. City commissioners are expected to vote on the proposed Icon Palm Beach this spring. Another five towers totaling nearly 1,000 units are in the works in West Palm Beach.

Broward and Palm Beach counties are already popular with domestic and Canadian buyers. Developers hope to also gain traction with some of the international investors who predominantly focus on Miami.