Devco South – Progresso Lofts & Townhouses
Devco South – Progresso Lofts & Townhouses
2004 to 2005
727 & 737 N. Andrews Avenue, Fort Lauderdale
Development
7-story, 52 Loft condominiums and 9 Townhouses
Opportunity: Located just one block east of the Old Progresso Village project, the 1.5-acre land was either vacant or under-utilized as used auto lots, yet generated good cash flow. The multiple properties were acquired between 2002 and 2004.
Task: The challenge was to develop “the first” multi-story residential condominium to be marketed and built on the north edge of downtown Fort Lauderdale, expanding the new trend for “in-city” living in Broward County.
Results: Although all design was completed and approvals had been secured, the market was becoming over-heated. The project was instead opportunistically sold to another developer prior to construction in late-2005 earning a substantial profit.
Progresso Lofts & Townhouses
Lantana Plaza – Berkshire-On-The-Ocean – Luxury Home on the Beach – Boca House
The Patrician – La Paz at Boca Pointe – Fairways Condominiums – Mediterranea On Hillsboro Mile
Driftwood Beach Club Hotel – Powerline Warehouse – Drake Towers – Venezia Las Olas
Old Progresso Village – Progresso Lofts & Townhouses