ANOTHER RESIDENTIAL REDEVELOPMENT IN FT. LAUDERDALE
This time it is the former Ireland’s Inn located on the beach in Ft. Lauderdale. This is a good story and a great example of what is going in South Florida now. The Ireland Inn was built in 1965 at 2200 N. Ocean Blvd. In 2005 the hotel was damaged by hurricane Wilma and it closed in 2007. It has been closed since that time, deteriorating. Now the families who originally owned it are partnering with the Related Group to transform it into luxury condo property with 170 residencies. So another vacant, tired eyesore will soon become a gleaming new condo tower. When times are good, there is a shortage of land, and what there is becomes price prohibitive. So people look to see what they can reinvent / redevelop and this is happening all over the place right now. Every kind of product type is fair game, and you can literally see the differences in the landscape as you drive around. Properties from casinos, to multifamily to retail, you can see the improvements changing all around us as they are being upgraded. And it is all happening so quickly, seems like at least one new project announcement per day. Yes it is almost hard to see things ever going back down again, just like before. Since there is a lot more boom before the bust will come, people will just plow forward and do as much as they can while they can. It is exciting times, and I hope that we can manage the growth better this time around. Have people learned the lessons from just a few years ago? We will see as this story continues to quickly unfold. As always thanks for reading and have a great day.
Ireland's Inn to be redeveloped with Related Group luxury condos