The Real Deal Miami

Developer starts marketing condo-hotel in Pompano

Pure Residences would have 187 units with prices ranging from $223,000 to $860,000
May 13, 2017 12:00PM

Rendering of Pure Residences in Pompano Beach

The Canadian developer of Pure Residences in Pompano Beach launched pre-construction sales of the 187-unit condo-hotel.

Montreal-based GCA Immobilier would build the 17-story condo-hotel at 3300 Southeast 1 Street in Pompano Beach, located about two blocks from the ocean.

GCA Immobilier plans to start construction this summer and finish Pure Residences in late 2018.

Pre-construction prices range from $223,000 for a 455-square-foot unit to $860,000 for 860-square-foot penthouse units.

GCA Immobilier requires a phased 30 percent deposit to reserve a unit: 10 percent when a contract is signed, 10 percent when construction starts and 10 percent when the first floor is completed.

Unit owners would pay a monthly condo fee of approximately 91 cents per square foot.

Because GCA Immobilier is developing the Pompano Beach property as a condo-hotel, owners would be unable to occupy their units for longer than 30 consecutive days and no more than 180 days a year.

A hotel management company would rent all 187 units, which would be sold fully furnished to buyers. [South Florida Business Journal] – Mike Seemuth