Related Wins Initial Rezoning Approval for 21-Story Condo in Pompano Beach
Miami-based Related Group won initial approval of a rezoning in Pompano Beach, Fla., for a high-rise oceanfront condominium, its second in the area.
The Pompano Beach City Commission approved a proposal to rezone 900 North Ocean Boulevard on first reading Tuesday. Related plans to build a 21-story condominium on the site, with 119 units and parking on the first and second levels, plus a 2,200-square-foot convenience store.
The project is part of an uptick in coastal development in Pompano Beach, where oceanfront sites are less pricey than in Fort Lauderdale and Miami.
The commission rezoned the site on the southeast corner of North Ocean Boulevard and Northeast 10th Street from “multi-family residence-45” (RM-45) to “planned development – infill” (PD-I).
The PD-I zoning increases the maximum building height on the oceanfront site from 105 feet to 232 feet.
Related’s condominium would replace a three-story, 48-unit building, called Beach Villas Condominiums, built in 1979, that has not yet been terminated.
The project will be just south of the first high-rise condo that Related is developing in Pompano Beach: a 20-story, 105-unit building at 1116 North Ocean Boulevard, called Solemar. Related bought the site in 2011 for $6.25 million.
One of the biggest multifamily residential developers in South Florida, Related broke ground for Solemar in May and launched pre-construction sales of the units about 12 months ago.
Initial asking prices ranged from $1.3 million for two-bedroom units on lower floors to $5 million for larger penthouse units, according to The Real Deal.