Enlarge Image

Jorge Perez's The Related Group has proposed another condo project for Hallandale Beach.

Related News

• Hot Leads
• Miami CRA may fund creation of more downtown parking
• Platinum Partners settles in Rothstein Razorback case
• Rothstein's 'Uncle Bill' Boockvor pleads guilty
• Platinum settles Rothstein Razorback case

Oscar Pedro Musibay

Reporter - South Florida Business Journal

Email | Twitter | Facebook

The Related Group The Related GroupLatest from The Business JournalsMiami CRA may fund creation of more downtown parkingRelated Group buys Miami site for MMiami firms start work on M Orlando apartment projectFollow this company is planning a new condo development in Hallandale Beach that would also include a hotel. The 31-story Beachwalk tower would have 84 residences and 432 hotel rooms.

The proposed project would be located on the Intracoastal Waterway, at the western end of the Hallandale Beach Boulevard Causeway, according to Condo Vultures.

Related is already selling units for its 49-unit, oceanfront project Apogee Beach in Hallandale Beach. It broke ground on the project in December.

Beachwalk is the 22nd project to be proposed east of Interstate 95 in South Florida. If they are all built, the projects would add nearly 4,400 units into a market that had 4,200 developer units unsold at the end of last year, according to Condo Vultures.

A Related affiliate bought the Beachwalk development site, home to Manero’s Steakhouse for five decades, for more than $2.9 million from TD Bank TD BankLatest from The Business JournalsHot LeadsPlatinum Partners settles in Rothstein Razorback caseDepositors flee First UnionFollow this company in May 2011. The Beachwalk project is slated to cost $60 million to construct and have a market value of $80 million at completion, according to Hallandale Beach government documents Condo Vultures cited in its report.

Related is also planning to start construction in two weeks on its MyBrickell condominium in Miami. To date, about 80 percent of the 192 units are under contract, with buyers paying a 20 percent deposit, the company said. It would be the first new condominium project to break ground in downtown Miami in several years.

Developers seeking to launch new condo projects are focusing particularly on the high-end market, which continues to dominate because of the ability of its prospective buyer pool to pay cash for units. The 70-unit Bellini Bal Harbour high-end condominium recently broken ground.

http://www.sanlorinproperties.com