2004 to 2005

727 & 737 N. Andrews Avenue, Fort Lauderdale

Development

7-story, 52 Loft condominiums and 9 Townhouses

Opportunity:  Located just one block east of the Old Progresso Village project, the 1.5-acre land was either vacant or under-utilized as used auto lots, yet generated good cash flow.  The multiple properties were acquired between 2002 and 2004.

Task:  The challenge was to develop “the first” multi-story residential condominium to be marketed and built on the north edge of downtown Fort Lauderdale, expanding the new trend for “in-city” living in Broward County. 

Results:  Although all design was completed and approvals had been secured, the market was becoming over-heated.  The project was instead opportunistically sold to another developer prior to construction in late-2005 earning a substantial profit.