Inside the luxury boom in downtown Fort Lauderdale

Fort Lauderdale is a paradise for those who want to retire on their yacht. But now the city is building a flurry of new developments for young residents who (gasp!) may not even have a boat.

Miami-based Doron Broman, managing partner at Moderno Development Group, told The Post that 99% of his projects are in Fort Lauderdale.

“I fell in love with Fort Lauderdale in 2013,” he said. “When nothing happened there.
There’s a lot going on right now. According to the Fort Lauderdale Downtown Development Authority (DDA), more than 50 projects are under development, some already underway, resulting in more than 8,500 new residential units and 725,800 square feet of new restaurants and retail. areas. Major players include the New York-based Property Markets Group, Related Companies, Dependable Equities and Kushner Co., as well as Houston-based Hines and Denver-based Aimco.

One of Broman’s concerns is the Tarpon River Entertainment and Design District (TREDD), a former commercial district south of the New River.

“We converted warehouses into commercial spaces and opened a coffee shop, liquor store, bar, tattoo parlor, hairdresser and nail salon. All local business,” he said. Hipster area? “You could call it that,” he replied.

Next comes Rivr Lofts, a 28-story apartment building, and 501 Urban, a proposed $300 million development in Broward County adding two 30-story rental towers.

“This is not affordable housing, but instead of $2,700 for an apartment, the rent will be more than $2,000,” Broman said.

“Most cities get their boost from employers moving there and workers following them,” added DDA board member Charlie Ladd, owner of Baron Real Estate. “But we are the opposite. People want to live here, and employers follow them.”

West Marine, Future Tech, Icon International, Solomon Partners, Reveneer, BelHealth Investment Partners and Hong Kong-based TTI are some of the corporations expanding the city’s job market.

Ladd said he once had a hard time attracting high-end retailers to his commercial real estate projects — now he’s checking out the name of Henry’s restaurant in Beverly Hills as a tenant.

“For years, chefs only knew Miami. I fought to get them here,” he added. “It was a small village when I moved here in 1984. There were two buildings in the center of the city. Now 35 million people pass through our airport every year, and this is comparable to Orlando.”

Ladd is also building the Whitfield, an “ultra-luxury boutique hotel” that he says should open in late 2024.

Luxury names like Omni Hotels and Edition have set their sights on Fort Lauderdale. Opening in early 2026, the 800-room Omni Fort Lauderdale is adjacent to the Broward County Convention Center.

However, Edition Residences Fort Lauderdale is the brand’s first non-hotel project with more than 3,600 residential units added in the past five years.

“Fort Lauderdale is coming into its own,” said Asi Simbal, chairman of Cymbal DLT, which is developing 6 acres of waterfront and the Nautica Hotel and Residences. “Fort Lauderdale is emerging as one of the best cities in the world.”

Cymbal DLT made national news when, instead of simply destroying it, it moved a 100-year-old rain tree from a proposed waterfront development site.

“That’s who we are as a company,” he insisted. “We want to preserve the quality and history of the waterfront.”

To that end, an unusual local favorite, the Pirate Republic restaurant, will be relocated, making way for five high-rise towers ranging from apartments to a branded luxury hotel and restaurant, including a private yacht club, spa. and yachtsman.

“We are creating a maritime district with its own marina,” Simbal said. “You can press a button on your phone and your yacht will be waiting. We want to attract boaters for the day or come here and live.”

It’s all about keeping Fort Lauderdale “Fort Lauderdale.”

“We ended up doing what people in the city center like,” he said. “You can walk here, it’s safe. We got it right.”