Ocean Land Investments has picked up a waterfront condo development site in Fort Lauderdale for $9 million. Located on the Intracoastal Waterway just south of Sunrise Boulevard on Intracoastal Drive, the land currently houses a 1950’s-era co-op building with 16 owners. After negotiations, Ocean Land paid an average of $562,500 per unit.
Ocean Land plans to build AquaBlu on the site, a 17-story, 35 unit condominium. Units will range from 2,136 to 4,295 square feet and will be priced from between $1.4 million to $3.8 million per unit. Amenities will include a fitness center, saltwater pool, barbecue area, and game room. The developer claims nearly half of the units have been pre-sold with construction is slated to begin sometime in October 2015. Ocean Land Investments is also building AquaVita, AquaLuna and AquaMar in Fort Lauderdale.
“We are delighted to move forward with AquaBlu, and have appreciated the support of the community in working with us to bring our vision to fruition,” said Ocean Land president Jean Francois Roy. “As we strive to revitalize this dynamic area of Fort Lauderdale, we are committed to delivering high quality residences that complement the natural beauty and sophistication of this community.”
