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As a destination for luxury real estate, Broward County is often overshadowed by Miami. But over the past five years, new real estate developments have sprouted up throughout the county. With the Fort Lauderdale area no longer a tacky spring-break destination, rich people have flocked to Broward to invest in new properties (and even to live) because the price of new construction is significantly cheaper than in Miami (where prices are about $2,400 per square foot versus $929 in Broward).
Development is not just on Fort Lauderdale Beach. New towers are going up in Hallandale, Hollywood, and even Sunrise, ringing in a new era of construction. These are the seven luxury skyrises that are reshaping Broward County's real estate market:
7. Apogee Beach
When it broke ground in 2011, Apogee Beach was the first new condo to begin construction in South Florida since the 2008 recession hit. It is a 24-story tower with 49 units built by the Related Group. It was completed in 2013 and ultimately paved the way for as many as 22 more towers in the Hollywood/Hallandale Beach area, including the Villas of Positano, a nine-story building with 62 units, and Positano Beach, a seven-story building with 17 units.
6. Beachwalk Resort
Opened in May 2015 in Hallandale Beach, Beachwalk Resort has been called the city's biggest new development since Gulfstream Park. It's a 33-story luxury condo/hotel tower with 216 units with two suites that can be converted into one-bedroom hotel room when the owner isn't home. There are 84 private residences with access to a private lounge, bar, and rooftop pool. Prices range from $399,999 to $699,999.
5. The Gale Boutique Hotel and Residences
A condo/hotel project by the Neward Development Group is coming to Bayshore Drive on Fort Lauderdale Beach. It's a 12-story building with 129 residences set to be completed by 2017. Prices range from $400,000 to $1.2 million. The two-story building on the property will be a boutique hotel with 96 rooms.
4. Paramount Fort Lauderdale Beach
When it broke ground a year ago, Paramount was the first tower of its type to go up in the area. It is 18 stories tall and houses 95 units that start at $1.2 million. It's scheduled for completion at the end of 2016. There are four two-story penthouses with infinity pools and private elevator access. Those range from $4.5 million to $9 million.
This 15-story riverfront condominium building is in Fort Lauderdale off Federal Highway. Sitting on the Middle River across from George English Park, it will have 100 units for sale. Its most expensive unit is called the River Loft and is two stories, featuring an 83-foot terrace and private boat slip. One notable amenity is the Riva Water Taxi, which will take residents to George English Park for tennis or to the Galleria Mall to shop. Units range from $550,000 to $4 million.
The $1 billion development with eight condominium towers is going up in Sunrise over the next five to seven years. When complete, there will be 1,900 condos, 345 apartments, a hotel, and 550,000 square feet of retail and office space. The YOO at Metropica is the first tower to go up on the 65-acre mixed-use site bordering Sawgrass Mills Mall. It has a 2017 completion date. Prices range from $300,000 to $1 million on the 28-storied building. It will be the tallest building in Sunrise. It boasts views of the Everglades.
1. Auberge Beach Residences & Spa
Located on the site of the old Ireland Inn on North Atlantic Boulevard in Fort Lauderdale, Auberge Beach Residences is a two-tower luxury residential project slated to open in 2017. A Fernando Botero sculpture sits by pool facing the Atlantic Ocean. To increase waterfront views, the north tower is designed in a spiraling semicircle. Private elevators lead to many of the larger units that will have as many as five bedrooms. Properties start at $1.5 million. The penthouse is listed at $9.8 million.