Luxury Projects, 20 Towers, Planned For Hallandale Beach
As beachfront land in Miami, Fort Lauderdale and Palm Beach has become built out, development is filling South Florida's in-between municipalities.
Cities such as Hollywood, Dania Beach and Sunny Isles Beach have all experienced this trend. Next up: Hallandale Beach, which is sandwiched between Miami and Fort Lauderdale. Twenty towers are in the works there, and the local Community Redevelopment Agency says $1B in projects are underway.
Developer Ari Pearl of PPG Development has landed a $100M loan for one of the city's most ambitious projects: luxury SLS Residences. The financing, arranged by Lotus Capital Partners, will go to ground-up construction of an SLS-branded residential building with 250 units on the 127-acre Diplomat Golf & Tennis Club site at 501 Diplomat Parkway. PPG bought the site for $43M in 2018.
The SLS residential component is a $220M development, part of a bigger, $650M expansion that is slated to include hotel towers, a Katsuya restaurant, an 18-hole championship golf course designed by Greg Norman and a 48-slip marina.
Hallandale Beach, once largely a haven for retirees and snowbirds, has a population of 40,000. It has recently been making headway in retail/restaurant space, with acclaimed Japanese restaurant Etaru and a proposed 14K SF Icebox Culinary Center, with a greenhouse and restaurants. A mixed-use complex called Atlantic Village will also feature over 700K SF of restaurants, plus retail and Class-A office.
Other major projects in the works in Hallandale include:
- 2000 Ocean, a residential project by New York-based developer KAR Properties and furnished by Italian design brand Minotti.
- Hallandale Oasis, an Arquitectonica-designed mixed-use project on Hallandale Beach Boulevard, including two high-end residential towers and two retail commercial areas.
- Gulfstream Point, a new, 300-unit apartment complex with a ground-floor restaurant near Gulfstream Park Racing & Casino.