South FL Condo Market on the Upswing in Dania BeachMonday, August 27th, 2018
by Timea Papp
from Multihousing News
Considered one of the last undeveloped seaside markets in South Florida, Dania Beach is garnering attention from luxury developers that recognize the market’s strong growth potential. Dania Pointe is one of the first micro-cities taking shape in Dania Beach, bringing the live-work-play experience to the area.
Stuart Meyers, chairman & CEO of Meyers Group—the company developing the residential component of Dania Pointe—spoke to Multi-Housing News about the luxury condo market in Dania Beach, as well as about the way The Avery at Dania Pointe fits into the scenery.
What are some of the key factors contributing to the rising condo market in Dania Beach?
Meyers: Dania Beach has one of the highest-rising condo market pricing in Broward County. Urban sprawl is one reason that has affected a multitude of cities in South Florida. When markets such as Miami and Fort Lauderdale become saturated, it’s natural for the growth to spill over in neighboring cities, such as Dania Beach.
Another factor that is contributing to this growth is the new Florida Power & Light plant that is slated to bring in nearly $800 million in new construction. This plant will add jobs to the area and stimulate the economy. Dania Beach is ultimately the last seaside market that is undeveloped by major luxury projects. This potential is now being tapped and one of the reasons why growth is occurring.
Which is the main demographic drawn to the Dania Pointe residences?
Meyers: The main demographic drawn to The Avery at Dania Pointe is the working professional with an active lifestyle—aged between 25-35—who values the ability to live, work and play all in the same area. The magic behind Dania Pointe is that it is its own micro-city that can function independently from a major metropolitan area such as Miami.
What is the principal difference between the luxury condo market in Fort Lauderdale and the one in Dania Beach?
Meyers: While both areas are going through major periods of growth, Dania Beach is just now starting to see a boom in residential communities. Fort Lauderdale has been building luxury condos at an exponential rate for the past five to eight years. Dania Beach and Hollywood are now both seeing huge support from the public sector and are growing across the board with residential, commercial and mixed-use projects.
With this growth comes the need for luxury residential options. The luxury market in Dania Beach is relatively new, so those who establish developments first have the ability to set the precedent in the area, as opposed to Fort Lauderdale which already has a standard in the market.
What is the primary appeal of The Avery at Dania Pointe, that sets it apart from other developments?
Meyers: The Avery at Dania Pointe has one major element on its side—location. Dania Beach is one of the biggest up-and-coming areas in South Florida. Projects like Dania Pointe are reshaping what was formerly known as Main Street America. In addition to a slew of amenities, The Avery at Dania Pointe offers accessibility to almost 1 million square feet of retail and restaurants in addition to Class A offices, hotels, luxury apartments and public event space. Also, the development is just minutes away from Fort Lauderdale-Hollywood International Airport, multiple beaches and right around the corner from Downtown Fort Lauderdale.
What amenities will the residential component of the project provide its residents?
Meyers: The Avery at Dania Pointe will feature 264 units in an eight-story concrete block building, with an elevator-serviced garage. Residents will live just steps from the shopping and dining experiences offered on Main Street, and with offices also on-site, residents will enjoy a 24-hour lifestyle center that they will rarely need to leave. Enhancing the residential life will be a pool, a fitness center and a yoga room. More luxury amenities will be released as development progresses.