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New condo development proposed for Singer Island

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Singer Island will soon get its third new condominium development in recent years. Photo is a rendering of the proposed new condo tower building to be named Singer Island Gateway which is provided by the developer Singer Island Gateway LLC.

The Riviera Beach City Planning and Zoning Board last week reviewed this proposed plan for Singer Island Gateway, which will possibly be located and constructed along the Intracoastal Waterway.

The 259,800-square-foot, eight-story project is planned for a 1.86-acre site at 2525 and 2429 Lake Drive, the South Florida Business Journal reported. It will have 135 mostly one and two-bedroom units, a pool and amenity deck, as well as a renovated 16-slip marina that would be available for public lease. The project’s architect is Torti Gallas and Partners, and the project’s developer is Singer Island Gateway LLC, a company managed by Palm Beach resident and dentist Richard J. Lazzara.

The plans must now proceed to the Community Redevelopment Agency and city council, according to Jeff Gagnon, Riviera Beach Assistant Director of Community Development.

The property was acquired out of foreclosure in 2013, according to the developer’s application, and contains an old condo building damaged by hurricanes in 2004, according to the South Florida Business Journal. The application estimates construction cost at $55 million, and the eventual annual real estate taxes to the city at $600,000 to $650,000.

Other similar new condo-developments on the island include VistaBlue Singer Island which broke ground in late 2015 and Harbor Point which is in pre-construction. Both of those projects are on the beach. [South Florida Business Journal]Gabrielle Paluch

From The Real Deal Miami via http://ift.tt/2ka23Bl