Developers in Broward and Palm Beach counties can’t necessarily count on a deep foreign buyer pool like in Miami, so they have to find creative ways to generate buzz for new projects.
Broward and Palm Beach account for just 26 percent of the more than 38,150 condos in South Florida’s pipeline.
In last decade’s development boom, Broward alone represented 21 percent of the nearly 49,000 units constructed in the tri-county area. If the owners of Fort Lauderdale’s Galleria mall follow through with recently proposed $1 billion redevelopment that calls for 1,600 condos, Broward would return to that 21 percent threshold.
Among the most notable twists on the typical, the Stronach Group is hoping to stand out by building South Florida’s first condo-casino at Gulfstream Park in Hallandale Beach. Stronach has approvals to build a 21-story, 182-unit high-rise as the first step to the eventual development of up to 1,500 condos at the gaming venue.
In another atypical move, developer Moses Bensusan brought in nightclub guru Michael Capponi as a partner on his 307-unit Costa Hollywood Condominium Resort.
Among the largest planned developments in Broward are the Related Group’s 407-unit Hyde Resort & Residences in Hollywood and Invesca Development Group’s 350-unit Koi Residences & Marina in Pompano Beach.
In West Palm Beach, Related and the Huizenga family are moving forward with the six-tower, 1,059-unit Icon Palm Beach. Other large projects proposed in Palm Beach County include Elad’s 500-unit New Mizner on the Green in Boca Raton and 300 residences within the mixed-use Transit Village development in West Palm.
