Lionheart Capital nabs approval to build luxury condo towers in Pompano Beach
Developer is planning to launch sales next year
Lionheart Capital is joining other Miami condo developers heading north to Pompano Beach.
Lionheart secured approval this week from the Pompano Beach City Commission for a two-building luxury condo project at 1380 South Ocean Boulevard, developer Ophir Sternberg said.
The 239-unit project will include a 35-story, 354-foot tall building – the city’s tallest – and a 14-story building. The development, which stretches from the Intracoastal to the beach, will include a marina, spa, restaurant and more. Lionheart also secured Federal Aviation Administration approval.
Sternberg said he plans to launch sales next year, and has not yet determined pricing. Canadian, Brazilian and American buyers have been active in Pompano.
Property records show a Lionheart affiliate paid $22.4 million in 2013 for the 4.5-acre site at 1380 South Ocean Boulevard.
Developers have been buying properties in Pompano, where the only new condo construction so far has been Sabbia Beach at 730 Ocean Boulevard. Sabbia Beach is expected to open later this year.
Last year, Dev Motwani revealed his plans for a 27-story luxury condo tower two properties away at 1350 South Ocean Boulevard. He’s also partnering with Alliance Residential to build a 211-unit, mixed-use apartment development. The Related Group also submitted plans for a condo project at 1112 and 1116 North Ocean Boulevard.
Lionheart is also wrapping up construction of the Ritz-Carlton Residences, Miami Beach, which is about 70 percent sold, Sternberg said.