Canadian developers launch sales of oceanfront townhouse project in Pompano Beach

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November 4, 2020
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As reported in The Real Deal.

GT Homes USA, a joint venture between Canadian builders Greenpark and Treasure Hill, launched sales of an oceanfront townhouse project in Pompano Beach, as developers increasingly target the beachfront town.

The six-unit project, called The Ocean Six Terraces, is under construction and is expected to be delivered by December 2021.

Property records show Carlotree L.P. paid $4.9 million for the Pompano Beach lot in 2018.

Two units have been presold, and the developer has put two additional units on the market, Fidei said. It will release the final two in about a month. Prices start at $4.3 million.

Rex Nichols Architects is designing The Ocean Six Terraces, which range from three to four bedrooms and from 3,389 square feet to 4,048 square feet. They include rooftop terraces, sunset and sunrise terraces, pools, and customizable finishes, Fontana said. Units will come with Miele appliances and Kohler fixtures.

The development will have homeowners association fees at under $1,000 a month, or about 30 cents per square foot.

Pompano Beach is seeing more waterfront residential development. Related Group recently launched sales of Solemar, a luxury condo building planned for 1116 North Ocean Boulevard in Pompano Beach. The 105-unit, 20-story oceanfront building would mark the second large new development to be built on the beach in Pompano since Sabbia Beach was completed in 2018.

Fortune International Group also recently acquired a site on the beach. The Miami-based development firm, led by Edgardo Defortuna, paid $27.5 million for the 4.6-acre site at 1380 South Ocean Boulevard, with plans for two high-end condo towers.

Fidei said his company is looking to buy land in other parts of South Florida, such as Boca Raton and near Delray Beach. It also owns a property in Fort Lauderdale.