Bus Tour Highlights Fort Lauderdales Condo Construction

Dated: February 12 2015

Views: 551

Image titleUntil now, the CraneSpotters.com database of condo construction has scheduled bus tours of mostly Miami to show potential buyers and industry observers all of the new projects there.

Condo consultant Peter Zalewski, who created the database with the Miami Association of Realtors, said developers increasingly are moving north and targeting domestic buyers in addition to foreigners.

Fort Lauderdale buyers typically can get a discount of more than 40 percent per square foot compared with Miami-Dade County, Zalewski said. Also, Miami-Dade developers tend to require higher deposits: 50 percent or more as opposed to 30 percent or 35 percent in Fort Lauderdale.

"Domestic buyers still don't like paying that much, but they can at least deal with it," Zalewski said.

Among the projects under way in Fort Lauderdale: the Paramount Fort Lauderdale Beach, a 95-unit project at 701 State Road A1A; Auberge Beach Residences and Spa, 171 units at 2200 State Road A1A; the Gale Boutique Hotel & Residences, a 96-room hotel and 128 condos at 2900 Riomar St.; and Adagio On The Bay, a 12-unit development at 1100 Seminole Drive.

Last week, a Four Seasons was announced in Fort Lauderdale at 521 to 529 State Road A1A. It will have about 150 hotel rooms and 95 residences.

Developer Bradley Deckelbaum, who's building The Riva condo along the Middle River in Fort Lauderdale, said last week the boost in luxury condo construction is giving the city a more sophisticated image.

"Buyers who may have looked only at Miami are now coming to Fort Lauderdale and very much like what they see," he said.

Miami-Dade County still has the overwhelming majority of new condos in South Florida, with almost 30,000 units completed or planned. Palm Beach County has 3,436 units finished or in the pipeline.

The Fort Lauderdale bus tour, which lasts about three hours, begins shortly after 10:30 a.m. at the Dania Beach Tri-Rail station, 500 Gulf Stream Way. Tickets cost $80. For more information, call 305-865-5859.

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Angelo F. Terrizzi Jr.

I am a New England native, born and raised in the Boston area. Growing up, I was always involved with extra-curricular activities through school and church. I spent 30+ years in Business and later in ....

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