Moderno Development Group is planning a luxury rental townhouse community in an upscale Fort Lauderdale neighborhood, as it continue to expand its projects.
The company, led by managing partners Christopher Bibus and Doron Broman and marketing manager Uri Redler, expects to break ground on the 10-unit project, called 912 Victoria, in August, Redler said. The three-story townhouses will be built at 912 and 930 Northeast Fourth Street in the Victoria Park neighborhood of Fort Lauderdale.
Property records show 912 Victoria LLC paid $1.2 million for the 19,800-square-foot lot in 2017.
Redler said the project will mark the only new rental townhome community in Victoria Park. Rents are expected to be about $4,000 per month. The units will each have three bedrooms, three-and-a-half bathrooms, and a first-floor den that can be converted into an office, as well as high-end finishes and cabinetry.
Last year, Moderno completed the land assemblage for a mixed-use rental building in downtown Fort Lauderdale. River Lofts on Fifth will be an 18-story, 300-unit apartment building with about 12,000 square feet of Class B office space.
The firm has other townhouse projects in the works in Fort Lauderdale.
“There is a high demand for townhomes and what we built doesn’t feel like one,” Redler said. “We’re building them wide and not narrow so you can get a feeling that you’re living in a single-family home.”
At 601 Northeast 10th Avenue, the development group is completing 601 Moderno, two for-sale luxury townhouses on a 6,700-square-foot lot, also in Victoria Park. The three-bedroom, three-bathroom units feature 10-foot ceilings, Italian porcelain flooring and two-car garages. Prices range from $860,000 to $890,000 and the units are being co-listed with The Agency, which expanded to South Florida last year.
And over on Northeast Fifth Street and 14th Avenue, Moderno recently broke ground on 1415 Moderno, a three-unit townhouse project on the market with Redler and The Agency’s Mary Yasol and Howard Elfman. Two townhomes will have three bedrooms, three-and-a-half bathrooms with 2,277 square feet of interior space, and the other will have two bedrooms and two-and-a-half bathrooms with 2,400 square feet of interior space. Prices range from $825,000 to $875,000 and the project is expected to be completed in early 2020.