The Real Deal Miami

Fort Capital to roll out second project near Surf Club Four Seasons in Surfside

Second project would see new 11-story tower and renovation of separate condo building
August 24, 2016 08:45AM

The Surf Club Four Seasons construction site Nadim Ashi, founder and CEO of Fort Capital Management

The Surf Club Four Seasons construction site and Nadim Ashi, founder and CEO of Fort Partners

UPDATED August 25 3:54 p.m.: While Fort Partners finishes up the first portion of its Surf Club Four Seasons condo and hotel project in Surfside, the developer is already eyeing a second project nearby.

As first reported by the South Florida Business Journal, Fort Partners has submitted an application to redevelop the land directly north of Surf Club with an additional 54 condos.

The developer hopes to demolish the mid-century apartment building at 9133 Collins Avenue, eventually replacing it with an 11-story tower that would house 38 condos. Fort also wants to gut-renovate the historic Seaway Villas condominium, whose owners it bought out in bulk last year. Its 28 units would be pared down to 18 large two-bedroom residences.

Fort is closing in on a year-end 2016 delivery date for the Surf Club, which in its current state is a 9-acre development with two 12-story residential towers housing 150 condos, plus a hotel with 80 rooms. The project was designed by Richard Meier. Prices range between $3.4 million and $35 million, and so far 80 percent of the units have been sold, the developers have said.

The application will be heard by Surfside’s Planning and Zoning board Thursday. Fort and notable investors like Turkey’s Koç family purchased the Surf Club development site, formerly a storied social club of the same name, for $116 million in 2012.

Correction: A previous version of this article incorrectly identified the development entity as Fort Capital Management. It is actually Fort Partners.