The newly formed partnership is moving forward on highly anticipated mixed-use development
City of Lauderhill commissioners have taken the first step toward getting the project built by approving a special exception application which will allow for the development of residential units on the property.
The intial offering will include 62 luxury condominiums with two- to four-bedroom units, starting at $3 million, and an exclusive mix of owner privileges.
The loan will allow the developer to ready its 6-acre waterfront site for its slated summer 2023 groundbreaking.
The 159,722-square-foot, 9.2-acre property built in 1989 last sold in 1996 for $7.2 million.
The Colliers’ Real Estate Development Division – once focused on commercial buildings – is leveraging its extensive expertise in Construction Management to assist condo boards with multi-million-dollar capital improvements and renovations mandated by the Building Safety Act.
The vacant site is comprised of five adjacent parcels of land divided by SW 14th Place with three parcels to the north and two parcels to the south.
Pulso Capital purchased the property for $551,282 per unit.
Franklin Street’s South Florida Investment Sales Team of Greg Matus, Adam J. Tiktin and Alex Lazo represented the seller, GSK Hollywood Development Group, LLC.
Plans call for a midrise design and programming for 252 residential units across studio, one, two, three and four-bedroom units as well as over 300 parking spaces.
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