Chetrit seeks approval for massive mixed-use project in Pompano Beach
New York-based Chetrit Group and local developer Ari Pearl are seeking approval for a nearly 361,000-square-foot mixed-use project on the beach in Pompano.
JJ Land Realty, a Chetrit affiliate, submitted plans to the city of Pompano Beach’s development review committee for a development with residential, hotel, recreational, retail and event space components. The committee will hear the item at a meeting on Wednesday morning.
The developers bought the 3.7-acre waterfront site at 20 North Ocean Boulevard for $42.5 million in 2009. Bonita Springs-based homebuilder WCI Communities sold them the land.
As planned, the development would include a 24-story tower with 77 condos, a 22-story, 303-key hotel with 49 condo-hotel rooms, and a pool deck for the condo and hotel components, according to the South Florida Business Journal. Nichols Brosch Wurst Wolfe & Associates is designing Oceanside Pompano Beach, which also has 9,875 square feet of restaurant space, 4,836 square feet of retail space, a 21,357-square-foot spa, a roughly 12,300-square-foot banquet hall and nearly 600 parking spaces.
In Pompano, Chetrit is already approved for a 122-unit apartment project at 2629 North Riverside Drive and 2507 North Ocean Boulevard. Earlier this year, The Real Deal took a deep dive into Pompano Beach, Broward County’s second oldest city, as it undergoes a significant transformation. Among new projects in Pompano is Sabbia Beach, a 19-story condo tower currently under construction.
Chetrit and Pearl are also working on two other large-scale projects in South Florida: a $1 billion development along the Miami River, and a complete hotel redevelopment in Miami Beach’s Collins Park neighborhood. The 10-acre Miami River includes four towers, a hotel, shops, restaurants, and a public river walk with boat slips. [SFBJ] – Katherine Kallergis
Source: The Real Deal