In May 2023, Florida YIMBY reported on Salato Pompano Beach, a nine-story residential venture in Broward County. Now with the acquisition of a $73.8 million construction loan, it’s expected to break ground soon.
Forman Capital has provided a $55.22 million bridge loan to facilitate the conversion of 214 Class A rental units into for-sale condominium residences in Pompano Beach, one of South Florida’s rapidly developing cities. The Envy project comprises two 11-story buildings located at 450 E. Atlantic Blvd. between Dixie Highway and U.S. 1, and is part of the larger Koi master-planned community, which includes trails, parks, and a private 26-slip marina. The loan originated from Forman Capital’s Ben Jacobson, Scott Mehlman, and Ty Regnier on behalf of the borrower, Envy Development DE, LLC. The financing was brokered by Jay Miller, Spencer Miller, and Noah Rothman of BayBridge Real Estate Capital, with the transaction closing on August 29, 2024.
The Related Group and BH Group have submitted design plans with proposed amendments for a new 24-story condo/hotel project designed by Nichols Architects along the oceanfront in Pompano Beach. The city’s Development Review Committee is set to review the plans for the 3.7-acre site at 20 North Ocean Boulevard on August 7. The developers, operating through affiliate 20 North Oceanside Owner LLC, acquired the property, previously used as a parking lot, for $47.5 million in 2023.
An application for a mixed-use project in Downtown Pompano, known as Patagonia, has been submitted for review by the city’s Development Review Committee on July 3. The project, proposed by the Pompano Beach Community Redevelopment Agency (CRA) in collaboration with developers Frank Gotsman of Hadar Homes and Invest Capital Group under the ICG CGP 58, LLC, is set to be built on 1.26 acres owned by the CRA. The site is on both sides of Northwest Seventh Avenue, north of Martin Luther King Boulevard and a block north of Atlantic Boulevard.
Cavache Properties has completed Old Town Square, a 281-unit apartment complex in the heart of Pompano Beach’s burgeoning Old Town neighborhood. Located at 200 Northeast 1st Avenue, Old Town Square, designed by Fort Lauderdale-based Adache Group Architects, is the first significant project in this historic downtown area where city officials actively promote development and revitalization.
