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Sabbia Beach in Pompano closes $45M construction loan

A new oceanfront high-rise of condos referred to as Sabbia Beach is coming to Pompano Beach. This is Pompano Beach’s first new beachfront condo project in nearly a decade, which just closed $45 million in construction financing. Sabbia Beach, developed by Fernbrook LLLP, is more than 65 percent sold, according to a press release. Ocean Bank is the lender. The development team is led by Danny Salvatore, president and founder of Canada-based Fernbrook Homes, and Federico Fernandez, CEO of Venezuela-based Grupo Fernandez. The 19-story, 68-unit tower officially broke ground in May and plans to be completed by the second quarter of 2018. Verdex Construction is the general contractor. Condos are priced from $1 million to $5.3 million, and the majority of buyers are domestic, Canadian and ...

Love Street project nabs final OK from Jupiter council

Jupiter is about to get more restaurants, office space and retail shopping stores off Love Street. Developer Charles Modica is moving forward with his Love Street mixed-use project now that the Jupiter Town Council has given him the approvals he needed. On Tuesday, the city council gave Modica’s development team the OK to move forward with building their marketplace-style project on 3.8 acres of land at the corner of Love Street and A1A. A $30 million development of retail/restaurants/offices was approved by a 3-2 vote Tuesday night by the Jupiter town council. Plans call for 12,917 square feet of restaurant space, 15,000 square feet of offices, 20,728 square feet of retail and 215 parking spots. The nearby 13-slip marina is already in use by commercial ...

WPB commission gives nod to Marina Village project on North Flagler

The Marina Village project planned for North Flagler Drive between 38th and 42nd Streets in West Palm Beach, a joint venture between Miami developer the Related Group and West Palm-based boat repair/refit company Rybovich, is starting to take shape The West Palm City Commission last month approved the site plan for the first of six residential towers on the 19-acre site next to Rybovich’s boat yard and headquarters at 4200 North Flagler Drive. The first building is 25 floors with 132 apartments and a four-story garage. The first phase also includes a 3,025 square-foot beach club with swimming pool and a public promenade. Construction on the first building should begin late this year, with completion expected in 2018, Steve Patterson, CEO of Related, told The ...

First new condo project in more than decade comes to Palm Beach island

Sketches of 3550 South Ocean New York and San Francisco-based developer DDG is about to start taking reservations for the first condo project built on Palm Beach’s barrier island in more than a decade. The luxury development, which fronts the Atlantic, is named 3550 South Ocean. It will consist of a six-story building with 30 condos ranging from about 2,800 to 3,400 square feet. Units will have floor-to-ceiling windows, with ceilings up to nine feet in height. The building, at 3550 South Ocean in South Palm Beach, will include a fitness center, an oceanfront swimming pool and private beach access. Units will be priced at $2.3 million to $3.5 million. “For anyone who wants to be on the ocean with beach access, this is a rare opportunity,” Joe ...