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NEW DEVELOPMENTS ON FORT LAUDERDALE BEACH

One of the most prominent areas on the beach, the blocks around the intersection of Las Olas Boulevard and A1A, is now for sale for redevelopment. The current owners spent the last thirty years assembling multiple properties and now have 4.46 acres with 500 feet of beach frontage. They are still in the process of finalizing the asking price and are also offering potential buyers a rendering of what can be built on the property. They are envisioning a two-tower complex with hotel rooms, residential units and commercial space. The project has not been submitted for city approval as of early May 2018 and the existing Elbo Room would remain.

A few blocks north of the above mentioned project, eight parcels owned by the City of Fort Lauderdale, consisting of 2.6 acres between Alhambra Street on the north and Sebastian Street on the south, have been sold to a private developer. The developer, The Kolter Group, plans to build a mixed-use development with 311 multifamily units and 15,000 square feet of retail/restaurant space at 3000 Alhambra Street. Some of the development will be open to the public. The project will revitalize the area which has been deemed blighted by the City of Fort Lauderdale.

Last but not least, the Four Seasons Hotel and Private Residences had their groundbreaking on May 1. The 22-story development includes 90 private residences and 130 hotel rooms. Residential sales are at $100 million as of May 2018. This luxury offering is attracting both domestic and international buyers who want the lifestyle, services and amenities offered by the Four Seasons brand.

These projects should all be enhancements to the beach area, which has evolved from a mecca for spring breakers into an area with upscale residential dwellings, hotels and restaurants.

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