Fort Lauderdale infill developments are on the rise. For those not familiar with the term infill development it's just a fancy way of saying repurposing, or redeveloping, areas close to an urban core. There was a rash of development in South Florida that you could best classify as urban sprawl. Communities pushed boundaries towards the Everglades. While this worked for a period of time, I think the tide has quickly shifted. When I speak to new clients about the Downtown Fort Lauderdale area I'm quick to highlight the future projects planned. So much urban planning was reactionary in South Florida. Nobody anticipated the growth, and when they did it was far too late to effectively incorporate mass transit into a city plan. People now want to move back to the center of urban areas. They want to walk to nearby bars and restaurants, and ideally to their offices. Commuting for an hour along 595 or 95 isn't something most people want to do. However, if they're going to give up their large homes and yard in exchange for Downtown Fort Lauderdale condominium living, we're going to have to given them accessibility to public transportation.
What types of public transportation does Fort Lauderdale have planned for the future? Aside from residents wanting a walkable Downtown/ Las Olas area, we also want to grow the business community. I want to be able to take public transportation all the time. I'm more comfortable with that than I am with driving a car and searching for parking. So how can we link the Downtown office buildings to residential areas? The first step is with the Wave Streetcar. The Wave will essentially run from Broward General Hospital towards the Downtown Fort Lauderdale core, and up through Progresso and Flagler Villages. The Wave will run over the ground, basically like the green line of Boston's T system.
So lets move back to the topic of infill development with the Wave in mind. If you drive up and down Andrews Avenue along the proposed Wave route you will see a multitude of buildings that are ready for redevelopment, mostly office spaces. The more residents we drive into the Downtown Fort Lauderdale area the more office and retail space we're going to need to develop. South of the New River you see not only Marina Lofts and New River Yacht Club on the development map, but you will also see a proposed 37 story tower across from the Publix on Andrews and 6th. I'm told the proposed building is 37 stories, mixed use hotel and office space and is supposed to be built with "green" materials. That would definitely look better than the vacant lot that sits on the parcel now!
Once built this would be a great example of effective infill in Fort Lauderdale.
For commercial investors the Wave and infill opportunities are clear, especially with the new Courthouse (seen in the photos) nearing completion. Vacant land along Andrew's Avenue through Flagler Village is prime for development. For residential buyers, keep an eye on Flagler and Progresso Villages. I think there is significant upside to buying loft spacing in those areas that will run close to the Wave. Mill Lofts, Foundry Lofts, Avenue Lofts, Nola Lofts, and Bamboo Flats, are all excellent projects. I've written about loft spacing in Fort Lauderdale previously. That post is one of my most heavily trafficked so the level of interest from buyers is clear. As the FAT arts district which surround those lofts continue to gain popularity the savvy residential developer could find a great opportunity. Land assemblage in that area is still relatively easy, and demand for loft spacing with open spaces in that area sells at a premium.
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email firstname.lastname@example.org. I am a Realtor that works on Saturdays in order to accommodate those with busy schedules.
Veniceofamericahomes.com is a trusted source for real estate trends, statistics, and data, as well as aesthetics.
Written By Casey Prindle