There seems to be a wave of new construction townhome, or townhouse, properties coming online in Victoria Park. An article in that appeared in this mornings addition of the Sun Sentinel highlights builder and developer appetite for projects in Victoria Park. There is always higher end appetite along the Intracoastal and Las Olas, but the article goes on to specifically site Victoria Park as a highly desirable area for developers to construct townhomes. The demand for high quality, luxurious, multi floored townhouses is rising quickly. In my own practice I can attest to that. You can read the full article here.
By the corner of NE 9th Street and Victoria Park Road there is a vacant piece of land. The land totals 2.3 acres and is owned by BBX Capital, or BankAtlantic. The lot is divided into 16 folio's. The reason I am telling you about this is because this is the type of land a developer will scoop up and will look to put townhomes on the land. There are several partially completed projects in Victoria Park that were just crumbling concrete block foundations. If you're familiar with the area there are other projects that come to mind around the area of NE 7th St and NE 9th Ave. There's another by the border of Holiday Park and NE 7th St. There's also a small stalled project by the corner of NE 6th St and NE 10th Ave. So why do I bring all of these stalled projects up? The answer is because they are no longer stalled. There's work going on at each location and structures seem to be moving towards completion.
If you're a developer now is a great time to look at extra large lots that can be converted into townhouse style housing which can net a tidy profit. If you're a buyer it looks like we'll have some much needed new supply coming onto the market, though I anticipate prices to be in the upper range. If you're a seller you should know that there is a huge level of interest from buyers in townhomes currently. If you'd like a specialized list of townhome properties currently available for sale please email me, firstname.lastname@example.org.
I work as a real estate specialist in a small area of Fort Lauderdale. If you’re interested in buying or selling a home in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Harbor Beach, Lauderdale Harbors, Collee Hammock, Seven Isles, Nurmi Isles, Idlewyld, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email email@example.com.
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Written By Casey Prindle