Commercial Property Executive: Upscale Mixed-Use in Preparation in Ft. Lauderdale Beach

Newgard Development Group’s new condominium and hotel project in Fort Lauderdale Beach is off to a good start. With condo sales currently underway, the development has successfully converted its reservations to contracts in just 30 days as preparations are underway in advance of the groundbreaking. Gale Boutique Hotel & Residences will be home to 96 hotel rooms and suites and 129 luxury residential units.

Situated at 2900 Riomar St. and 410 Bayshore Drive, between the Atlantic Ocean and Intracoastal Waterway, the $120 million project’s newly-built 12-story tower will offer one-, two- and three-bedroom condominiums and townhomes, from 850 to nearly 2,200 square feet, with prices ranging from the mid $400,000s to more than $1.2 million. The residential section will offer owners a range of resort-style amenities along with access to the services provided at the hotel component.

The luxury boutique hotel will occupy a group of buildings that formerly housed the Escape Hotel. A comprehensive restoration of the 1940s landmark will make way for 96 hotel rooms and suites. Menin Hospitality will manage the hotel, a company whose South Florida portfolio includes Gale South Beach, Kaskades Suites at Gale South Beach, Sanctuary South Beach and The Bentley South Beach.

The Gale is expected to break ground later this fall and it is scheduled for completion in early 2017.

Author: Balazs Szekely
Source: http://www.cpexecutive.com/cities/miami/upscale-mixed-use-in-preparation-in-ft-lauderdale-beach/1004128117.html