Waterfront condominiums with prices starting at $2.4 million are planned for a small tract north of The Ritz Carlton Fort Lauderdale upcoming this year. Jeremy Bedzow’s Grand Birch LLC has launched sales at Privage, a 22-unit project at 325 N. Birch Road, near Bayshore Drive overlooking the Intracoastal Waterway. The units will range from 3,000 to more than 4,500 square feet. Amenities include marble/granite flooring, private elevators from the lobby/parking garage to your condo and wine storage for residents.
Bedzow hopes to start construction by September and have the 11-story building ready by the latest 2015. The Broward County native and son of developer Michael Bedzow said he’s counting on strong demand from baby boomers. “They want to downgrade their size and upgrade their lifestyle,” he said. “They want urban, to be able to lock their doors and head to the Cayman Islands.” This is very true in the sense of that many baby boomers have the desire to live a successful life as soon as possible. Living space is very important to reflect this mentality. These waterfront condos can add that sense of reward and success to their lives. These condos will be a highlight this upcoming year when construction concludes.
In May 2012, Bedzow paid $2.45 million for the property, which is less than an acre, Broward County property records show. In the past few years, developers have planned or completed nearly 2,300 condos in the Broward area, according to Cranespotters.com, a database created by the CondoVultures.com consulting firm. A group recently tore down the former Howard Johnson’s and plans Paramount Fort Lauderdale Beach, a 95-unit condo with prices starting at $1 million. Although developers are rushing to market with more condos after the housing downturn, Broward and Fort Lauderdale won’t be overbuilt anytime soon, said Peter Zalewski, principal at CondoVultures. Demand for luxury units remains strong, particularly from foreign nationals, he added.
The demand for luxury condos is continuing to increase. Even family homes look less appealing to newlyweds. Living in Miami, most professions are based in a metropolitan area, where you will find these luxury condos. These pricey condos will be in a great location and residents will take full advantage of Fort Lauderdale’s beautiful waters. Stay alert mid-year as you’ll see construction to begin in the area. This too will bring a new crowd of people to the Fort Lauderdale area.