Location Venture‘s newest multi-family condo project located in Fort Lauderdale recently was approved by city officials and featured in The Real Deal article titled “Waterfront condo project approved for Fort Lauderdale’s barrier island”.
From the article:
Fort Lauderdale commissioners approved an 11-story, 65-unit condominium development along the Intracoastal Waterway in the Central Beach area of the city’s barrier island.
Coral Gables-based Location Ventures plans to develop the as-yet-unnamed project at 551 Bayshore Drive, with completion expected in early 2025, said Rishi Kapoor, CEO of Location Ventures.
“We anticipate that slightly less than half of the building will be occupied by full-time residents … the remainder being second or third homes for snowbirds,” Kapoor said. Buyers are likely to come from Miami-Dade and Palm Beach counties as well as New York, New Jersey, Chicago, and Canada, he added.
The development will include 32 condos with three bedrooms and a den; 29 with three bedrooms or two bedrooms and a den; and four with two bedrooms. Four of the units will be ground-level villas, two facing the Intracoastal Waterway and two facing the front of the property.
“The proposed project enhances the existing housing stock of the Central Beach by providing amenities not currently available in the area,” according to a report by the staff of the Fort Lauderdale Planning and Zoning Board. “In addition, the project complies with the setback requirements and in some areas exceeds the requirements for the side yards.”
The two-building condo project will feature private resident dining service, meeting rooms, exercise rooms, a swimming pool, a garden, 151 vehicle parking spaces, and a dock on the Intracoastal Waterway.
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