Former Howard Johnson hotel demolished in Fort Lauderdale.
In the news...
The former Howard Johnson hotel in Fort Lauderdale Beach was
brought down to clear the way for an 18-story luxury condo tower.
The old hotel at 700 North Atlantic Blvd. was sold for $23
million during a bankruptcy auction last year to Maryland-based developer
Cignal Corp., but after the company failed to show at the closing, the property
was moved to runners-up, Dev Motwani's Chieftain Holdings for $20 million.
After the building is cleared away, the condominium tower
dubbed Paramount Fort Lauderdale Beach will be built by developer Encore
Housing Opportunity Fund, a group headed by Art Falcone and Nitin Motwani.
For a quick look at the demolition, click here:
For a quick look at the demolition, click here:
The building will house 95 condos overlooking the Atlantic
Ocean shoreline and the landscape of Bonnet House Museum and Gardens along
A-1-A.
Residences will range from 1,934 to 3,493 square feet ,with
prices starting at $1 million, according to a news release.
The building will take 18-months to build and is slated to
open winter 2016.
Encore Funds is also teaming up with developer Daniel Kodsi
for the 18-story project.
Kodsi is best known as the CEO of Royal Palms Communities,
which has developed mixed-use real estate for the past two decades.
Feb 19, 2014. From The South Florida Business Journal
