Newgard Development Group Acquires Future Development Site In Downtown Fort Lauderdale

Newgard Development Group, a leader in lifestyle residential developments across the Southeast, closed on the acquisition of a future development site in downtown Fort Lauderdale.

The 1.08-acre site at 200 W. Broward Blvd. is zoned to accommodate a significant residential development.

The land has entitlements for a 49-story building with 381 residential units, 8,256 square feet of commercial space and 426 parking spaces. Future development plans will be unveiled in the coming months.

“This was a fantastic opportunity to acquire a prime development site in downtown Fort Lauderdale,” Newgard CEO Harvey Hernandez said. “The area has such strong fundamentals, with continued demand from people who want to move to the city’s urban core. We plan to bring our expertise to the market and leverage our successful experience delivering first-class projects in Fort Lauderdale.”

Newgard has developed a dozen condominium projects in South Florida and outside of the state over the past 25 years.

In Fort Lauderdale Beach, Newgard’s trendsetting Gale Residences & Hotel development helped the neighborhood evolve from a Spring Break hotspot to a year-round destination by attracting buyers from Latin America, the Northeast U.S. and other parts of South Florida. It also marked the debut of Newgard’s pioneering flexible ownership concept that has since been replicated elsewhere in Florida and in Texas.

Newgard is currently developing LOFTY Brickell, a 44-story condominium development that will rise on the Miami River in the city’s Brickell district.  That project is more than 94% sold with just a handful of premium penthouse units still available starting at $2 million.