Fort Lauderdale is no longer Miami's less popular neighbor. It has recently undergone a facelift with amazing new property developments on the way. The boating capital of the world will surely be a far cry from its spring break reputation, an article from Oceandrive.com said.
The area now attracts visitors not just from nearby cities but also from different countries around the world. There are now facilities for world-class dining, recreational facilities, shopping and various industry start-ups. Fort Lauderdale is also home to the world's biggest water boat show and the best beaches in the region.
And of course there is one huge reason why home buyers are flocking to Fort Lauderdale: pricing.
Craig Studnicky, co-founder of ISG World LLC a real estate sales and marketing company, said that there is a 261-percent difference from the price of a new property condominium development in Miami Beach and those that are located in Fort Lauderdale. Newly constructed condos cost $2,400 per square foot on average in Miami Beach compared to the $920 per square foot on Fort Lauderdale.
"Miami Beach is insanely expensive," Studnicky says. "That's why Miami developers are now in Fort Lauderdale. It's the new frontier."
Recent Fort Lauderdale projects are Auberge Beach Residences and Spa at 2200 North Atlantic Boulevard which will be available for occupancy in 2017. This project has two towers with 171 units, each with private elevator access.
The Gale Boutique Hotel & Residences is another condo project at 2900 Riomar Street and 410 Bayshore Drive, from Newgard Development Group. To be completed in 2017 this will have 129 condominiums in a 12-story building and a boutique hotel.
Other projects are the Ocean Resort Residences at Conrad Fort Lauderdale Beach Resort, the Paramount Fort Lauderdale Beach, Riva from Premier Developers and The Residences.
North Beach will be the site of the most prominent property developments in Fort Lauderdale Beach Studnicky revealed. "Most people don't know it, but $1.3 billion is going to be realized in east Fort Lauderdale within the next three to four years."
