North Beach Village Neighborhood Evolves with Gale Residences Fort Lauderdale Beach
May 27, 2016
Luxury residential project a key component of emerging area that is experiencing major investment
FORT LAUDERDALE BEACH, Fla. – (May 5, 2016) – Newgard Development Group’s Gale Residences Fort Lauderdale Beach represents the latest step in the evolution of the city’s burgeoning North Beach Village neighborhood, which is being transformed into a destination on par with Las Olas Boulevard.
Last month, Newgard began work on the 129-residence project at 2900 Riomar Street in the heart of North Beach Village. The Gale Residences brings a convergence of quality, value and location to a neighborhood that is attracting substantial hotel investment and renovation. It is being built next to the former Escape Hotel, a historic building that is being completely rehabilitated by Newgard and rebranded as Gale – a successful boutique hotel brand on South Beach.
Located between the beach and Intracoastal Waterway west of the Hilton Fort Lauderdale Beach Resort and south of Bonnet House, North Beach Village was known for its mid-century beachside motels until recently. Many of those motels are being completely renovated and repositioned as modern boutique properties. Swedish developer Par Sanda has led the charge, as his group has acquired about 40 North Beach Village properties since 2010 and successfully renovated more than 15 of the hotels.
Hotel operators are working with the City of Fort Lauderdale to upgrade streetscapes and add restaurants and art galleries to create a European-style village connecting the beach and Intracoastal Waterway. The city is preparing a master plan for the village and entire beach area.
Domestic and international luxury residential buyers are taking notice of the North Beach Village activity, as evidenced by the brisk sales at Gale Residences. Through April 2016, the project is over 60 percent sold.
“North Beach Village is serving as a catalyst for Fort Lauderdale Beach becoming a premier residential and hospitality destination,” said Newgard founder, president and CEO Harvey Hernandez. “Our buyers realize they have an unprecedented opportunity to buy into one of South Florida’s trendiest neighborhoods at a significant value proposition.”
The 12-story Gale Residences’ one, two and three-bedroom residences range from 800 to 2,100 square feet. Prices start in the $400,000s. ONE Sotheby’s International Realty is handling sales at the Gale Residences. Acclaimed architectural firm Garcia Stromberg designed the residential building, while Miami Beach design firm Urban Robot Associates is the project’s interior designer.
About the Gale Residences Fort Lauderdale Beach:
Gale Residences in Fort Lauderdale Beach’s newest luxury residential building with 129 fully-finished residences at 2900 Riomar Street, only one block away from the beach. The 12-story building’s one, two and three-bedroom residences range from 800 to 2,100 square feet. Newgard Development Group is developing the Gale Residences Fort Lauderdale Beach next to the former Escape Hotel, a historic hotel that is being completely rehabilitated and rebranded as Gale – a popular hotel brand on South Beach. For more information, visit www.galefll.com.