The postponed construction of the Four Seasons Hotel and Private Residences Fort Lauderdale started this week.
The foundation of the Four Seasons is scheduled for completion by the end of the year. The hotel-and-condominium building is expected to open in the fourth quarter of 2020.
Fort Partners, led by Miami developer Nadim Ashi, is building the Fort Lauderdale property together with Toronto-based Four Seasons.
Ashi, who holds the Four Seasons franchise for the east coast of Florida, delayed the groundbreaking for a year while he focused on finishing construction of the Four Seasons Hotel and Private Residences at The Surf Club in Surfside.
Ashi’s Fort Partners just got a $135 million loan for its Four Seasons Resort Palm Beach, where major renovations are set to begin next month.
The 22-story Four Seasons development at 505 North Fort Lauderdale Beach Boulevard will have 130 hotel rooms and 90 residential condominium units.
Pre-construction sales of condo units have totaled $100 million so far. The condos will range in size from 780 square feet to more than 6,000 square feet.