Fort Lauderdale & Palm Beach Pre-Construction Condo Market Update: January 2023

by Sep Niakan, February 01, 2023

South Florida’s housing market may have taken a little holiday break for December, but the condo pre-construction market has been piping hot. This January, two new luxury condo projects launched sales in Palm Beach – the Ritz-Carlton Residences in Palm Beach Gardens and Olara in West Palm Beach. Also, plans for the billion-dollar, mixed-use Bahia Mar in Fort Lauderdale were submitted to the city’s development review board soon after the Related Group joined its pool of developers.

Read below to find details on all of these projects and more in our monthly condo pre-construction market round-up for Fort Lauderdale and the Palm Beaches in January 2023:

— January 2023 - Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Sales Launched

Ritz-Carlton Residences – Palm Beach Gardens

Groundbreaking – July 2023 | Completion – Q1 2022

Previously called the Landing at PGA Waterway, developer Catalfumo Cos. launched sales for its newly branded Ritz-Carlton Residences this January. Recently approved by the City of Palm Beach Gardens, the ultra-luxury condo project will rise with three 7-story buildings housing a total of 106 condos and a marina. It was previously proposed to rise 6 stories with 98 condos plus a marina.

Built for the needs of the year 2040, the waterfront project will be designed by the West Palm Beach-based Spina O’Rourke + Partners. Each residence will come equipped with over-sized balconies with room to accommodate a full dining table, two dishwashers, a second refrigerator in the walk-in pantry, and two electric vehicle chargers installed in their parking spot. The sales center is expected to open this February.

Besides a 29-slip private marina (for boats up to 75 feet in length), residents will gain access to a multi-level clubhouse with an event kitchen, a pool deck, a private waterfront park, a game area, a pickleball court, a putting green, a coffee bar, a library, fire pits, a fitness room, a spa, and more. Additionally, Ritz-Carlton will staff the condo association, service the 24-hour concierge, and help maintain the common areas.

Prices range from $4 million to $8 million, with a choice of three- to five-bedroom residences.

Olara – West Palm Beach

Shortly after winning approval from the city’s Planning Board in December, New York-based Savanna launched sales for its waterfront Olara condos. Designed by Miami’s award-winning Arquitectonica, Olara will feature a 275-unit condo tower plus a 210-unit apartment tower at 1919 and 1911 N. Flagler Drive.

The generously-sized floorplans at Olara start at about 1,500 square feet, affording residents a single-family home-like experience. Fronting the Intracoastal Waterway, the two 26-story towers will carry about 80,000 square feet of amenities and some 31,500 square feet of commercial space.

Highlight amenities will include a 30,000-square-foot restaurant and epicurean marketplace, two pool decks, a spa with a Japanese-style Onsen, sauna and steam rooms, an open-air yoga deck, a Pilates studio, and a library.

Prices start at $2 million, with a choice of two- to four-bedroom-plus-den residences.

— January 2023 - Fort Lauderdale & Palm Beach Pre-Construction Condo Market - Planned/Proposed

Bahia Mar – Fort Lauderdale

With Miami’s Related Group joining the team of developers at the billion-dollar, mixed-use, waterfront Bahia Mar project, plans were submitted to the city’s development review board this January. Replacing the 47-year-old, 296-room Bahia Mar resort will be this 2 million-square-foot project designed by Miami’s internationally acclaimed Arquitectonica to be the ultimate live-work-play destination. Previous plans for the site were approved for seven towers, up to 11 stories high, with a total of 651 condo units.

Developers Related Group and Rahn Bahia Mar LLC (inclusive of North Miami-based Tate Capital and Aventura-based Rok Enterprises) have now proposed building five, 270-foot-tall buildings at the 39-acre Bahia Mar site. The billion-dollar project will feature four residential towers plus an H-shaped hotel complex. Together, the buildings will house 350 condo units, 60 condo-hotel units, 256 hotel rooms, 88,000 square feet of commercial, plus 1,291 parking spaces.

Highlight amenities at this 801 Seabreeze Boulevard will include a 2-acre park, a 3,330-foot-long waterfront promenade open to the public, parking spots for water taxis within the existing 217-slip marina, a new 11,000-square-foot marina restaurant on the north side of the site, a 6,954-square-foot marina village on the south side of the property, and about 7.3 acres of space to host the annual Fort Lauderdale Boat Show. The boat show arena is expected to feature 160,000 square feet of climate-controlled areas, 41,000 square feet of tent space, a food court, and multiple retail kiosks.

Ready to invest or move into a brand-new luxury condo in or around Fort Lauderdale? Call, chat, or email us to have a local, pre-construction condo expert guide you to your desired property.