Before officially launching sales at the Fort Lauderdale International Boat Show, Fort Partners has broken ground on its Four Seasons Hotel & Residences.
The groundbreaking precedes the complete demolition of the existing Tropic Cay Motel in Fort Lauderdale Beach, according to the project’s vice president of sales Jim Cohen.
Cohen said the area is no longer “spring break central. There’s such a transformation going on in Fort Lauderdale,” he told The Real Deal. “The market is ready for luxury real estate.”
The Four Seasons will include condos ranging from 800 square feet to 6,000 square feet, with prices between $1.2 million to about $10 million, Cohen said.
Hotel guests and residents will have separate pools and lobbies, and residents will have a private driveway. Amenities include a spa, a signature restaurant, bar and lounge, pool-deck restaurant, ballroom, business center, children’s recreation area, meeting facilities and a cafe in a garden.
Fort Partners acquired the entire 1.8-acre block at 525 North Fort Lauderdale Beach Boulevard from Dev Motwani’s Merrimac Ventures in July. Merrimac is still a minority partner.