South Florida by the numbers: Pompano Beach’s moment in the sun

Miami /
Jun.June 01, 2022 11:30 AM
A rendering of 2629 North Riverside Drive and a rendering of Casamar (Casamar)

A rendering of 2629 North Riverside Drive and a rendering of Casamar (Casamar)

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

It’s always exciting when the stars align for a particular South Florida neighborhood, and everyone in real estate seems to realize its promise for greatness at the exact same time. Over the past 10 years, we’ve seen this phenomenon in places like Fort Lauderdale Beach, Sunny Isles Beach, Miami’s Edgewater, and Wynwood, and now it appears to be Pompano Beach’s turn. The region’s biggest names in condo development already have pre-construction luxury projects dotting the coastline, and major improvements to the city’s innovation district and a well-known gaming complex could further elevate the area’s real estate profile. Without any further “pomp” and circumstance, we explore the transformation of Pompano Beach in this edition of “South Florida by the numbers.”

28

Number of months to complete the new Ritz-Carlton Residences, Pompano Beach, once construction starts. The Fortune International Group and Oak Capital project will have an east tower overlooking the ocean, and a west tower overlooking the Intracoastal Waterway. [NBC]

$1.8 million

As of March, starting prices at the Related Group’s Casamar oceanfront condominium development, where units will range from 1,000 square feet to 3,900 square feet. Casamar is the second Related Group condo already introduced in Pompano Beach this decade, with Solemar launched in 2020 and currently under construction. [TheRealDeal]

$94 Million

Size of a construction loan secured by New York development firm Chetrit Group to build a 121-unit condo project with a 20-slip marina in Pompano Beach’s Hillsboro Shores neighborhood. The Kobi Karp-designed project is expected to break ground and launch sales in two to three months. [TheRealDeal]

276

Acres in Pompano Beach’s downtown area, generally defined as I-95 on the west, Dixie Highway on the east, Atlantic Boulevard on the south and Northwest Sixth Street on the north. The area includes an innovation district for high-tech companies and the “Old Town” section designed as an epicenter of dining and entertainment. Several new restaurants are being developed for the sector, as are drainage and other infrastructure improvement projects. [SunSentinel]

223

Total acreage of a “city within a city” complex in what will be a yearslong remake of the current Isle Casino in southwest Pompano Beach. It will feature a dramatically expanded gaming center and parking garage, hotel, office campus, apartment units, movie theater, shops, restaurants, Tri-Rail station, and e-commerce fulfillment center. In this massive project co-developed by Caesars Entertainment and The Cordish Companies, the gaming venue will be rebranded as Harrah’s Pompano Beach, and the other elements will be under the LIVE! Resorts Pompano brand. [SunSentinel]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.


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