Fort Lauderdale Real Estate is Booming!

Posted by Susan Rindley | on January 19, 2016

Categories: Fort Lauderdale, Real Estate Market News

Fort Lauderdale

Generations of college students have known Fort Lauderdale as the ultimate Florida Spring Break destination, but we all know that it is so much more than that.

2016 seems destined to be a pivotal one for Fort Lauderdale’s maturation. With over 35 projects currently in some concrete stage of development, the face of this once Spring Break-dominated beach destination is about to change dramatically.

Upgrading A Top Tourist Spot

The beaches of Fort Lauderdale, once known for their cheap beach accommodations, will be getting a major upgrade in the years to come. Many of the older resorts and hotels are being bought up in a rush to acquire real estate to develop into luxury beachfront property.

Projects like the Auberge Beach Residences and Spa, a joint venture of The Related Group and Fortune International Group, have a great deal of potential in the new Fort Lauderdale. This 4.6-acre site will soon be home to 171 residential units priced from $1.5 million to $9 million, along with a world-class spa, restaurant, indoor-outdoor lounge, swimming pool and gardens

Another exciting beachfront development, Bahia Cabana, aims to mix residential, commercial and hotel spaces to create something truly unique. The Urban Land Institute has singled this Randolph Equity Partners project out for its innovative architectural design solution, its integration of private and public partnership, its public accessibility and its preservation of both oceanfront and waterfront usage.

 

Transforming Into A Top Live/Play/Work Environment

Along with the many new hotels, condos and high-end luxury facilities coming into Fort Lauderdale, retail is also getting an enormous facelift.

New businesses are calling the area home even as existing retail spaces are upgraded and downtown spaces are expanded. With the completion of the Wave Streetcar and a station for the All Aboard Florida high-speed rail service, the area will be even more pedestrian-friendly, adding to its overall accessibility and allure.

“Fort Lauderdale is now a 24-hour city. It has evolved into a live/play/work environment,” real estate developer Terry Stiles told South Florida Business & Wealth in a recent interview. “The many upscale hotels on the beach are now bringing in international visitors who also are more frequently choosing Fort Lauderdale as a place to live. It’s an alternative to Miami.”

No longer reliant on tourism alone, Fort Lauderdale is maturing into a truly 21st century city. With the expansion of the marine, manufacturing, finance, insurance, real estate, high technology, avionics/aerospace and film and television industries to support the needs of the region’s growing population, South Florida and this city in particular are really growing up.

It’s also worth nothing that an airport expansion is also currently underway to create more direct routes for international visitors from South America and Europe, many who own or will own vacation property in the city in the coming years. Direct flights from Cartagena, Colombia, Mexico City and Sao Paulo are already available, but more are planned.

As Fort Lauderdale develops into an international destination like its sister city Miami, buyers will find that it can easily meet their lifestyle needs while providing them with excellent values in high-end and luxury waterfront real estate.