Luxury real estate is on the rise in South Florida. Now, one unexpected town is seeing a huge boost in luxury development as the typically sleepy fishing town is now attracting some of the largest, most well-known developers in South Florida.
The Ritz-Carlton residences is set to call Pompano Beach home. The two-tower high rise will mark the most expensive development in the city – and now all eyes are on the city.
“You know, the last couple of years everyone has been so down because of the pandemic but real estate is just the one thing that keeps going,” said Kyle Martinez, who lives in Pompano Beach.
Sitting on Florida’s gold coast, Pompano Beach refers to itself as “Florida’s warmest welcome.” Now, the Ritz-Carlton residence is coming to town.
“The fact that Ritz is really committed to coming with us to Pompano, it’s a statement that Pompano really is a great place to live in,” said Edgardo Defortuna, president and CEO of Fortune International and Oak Capital, which teamed up with Ritz-Carlton residences to make homebuyers dreams come true.
“My wife who works with me and my three kids said let’s take a drive and when we came here they said this is awesome,” said Defortuna, “The ocean and then you can have your boat in your backyard, where else can you do that? You have to do that, you have to buy it and we walked on the beach and it was really a family decision. ”
The east tower will overlook the beachfront. On the other side of Ocean Boulevard, the west tower will overlook the intercoastal.
One-hundred percent of the units will have waterfront views. It’s an owners-only luxury resort, beach club and yacht club. A one-stop shop as people who live here believe more people will be saying Pompano Beach than they ever thought they would.
By the end of the year, you’ll likely start to see construction crews start work on the towers. Once construction starts, it will take 28 months to complete – making the towers officially open in 2025.