MORE RESIDENTIAL CONDOS FOR FT. LAUDERDALE

 

MORE RESIDENTIAL CONDOS FOR FT. LAUDERDALE

It is always a good sign for the Florida economy when a residential condo project is built, as opposed to a rental project. Why? Rental projects cater to people that often do not have credit to buy, and or people who are seasonal or transient. Condos on the other hand, appeal to the people with credit, who hopefully live here year round (but there is no guaranty of that) and who will invest and contribute to the area. A two acre site at 1180 North Federal Highway will soon be transformed into the RIVA, a 100 unit project with over 400 feet of frontage on the Middle River in Ft. Lauderdale. The RIVA (I kind of like saying that and writing it too, good name! You will see where they got it from later in this blog) will be 15 stories and will be completed by the end of 2016. The Property will be developed by Premier Developers, and will feature 2 and 3 bedrooms priced from $550,000 to $4 million for penthouse and custom units. It was noted that buyers will need to put 35% down, which should flush out any investors. There will be a 7,000 SF gym, wine lockers and a water taxi that takes residents across the river to the Galleria Mall. What more could one ask for? It is expected that the residents will be comprised of Americans and Canadians who will be full time area residents. Premier Developers has a good reputation and track record in the area, having developed 2 other condo projects in Ft. Lauderdale, the Venezia At Las Olas and La Rive. They are doing 2 other projects in South Florida now, the Renaissance on the Ocean in Hollywood and the Bellaria in Palm Beach. As always thanks for reading and have a great day.