Dive Brief:
- Miami-based developer Related Group and Fort Lauderdale, Florida-based investor and developer Merrimac Ventures have partnered with global hotel chain Hilton to build the Waldorf Astoria Residences Pompano Beach, a 92-unit beachfront condo tower in Pompano Beach, Florida.
- The development, expected to be completed in 2026 according to a local news outlet, is the first stand-alone residential building under the Waldorf Astoria hotel brand and its first property in Broward County, according to a press release. Units will range from two to five bedrooms, 2,100 to 6,100 square feet in size, priced starting at $2.5 million, according to the property’s sales material.
- Amenities will include a marina with 19 boat slips for purchase, a courtesy dock, private cabanas and building features modeled after Waldorf Astoria hotels, including a “Peacock Alley” gathering area.
Dive Insight:
The Waldorf Astoria Residences will be the latest of three Related Group developments in Pompano Beach, following the Casamar and Solemar condo towers, and billions of dollars of properties in development in Broward County as a whole. Merrimac Ventures has deployed over $3 billion in capital in the area and has an active pipeline worth $3.7 billion, according to the release.
Pompano Beach has experienced substantial new development growth over the last several years, particularly with new residential developments. The city has established a community redevelopment agency intended to attract private development to particular areas, including the Martin Luther King Jr. Blvd. and Old Pompano neighborhoods, via incentives.
The city has also seen millions of dollars of public improvements, including investments in the downtown arts and entertainment district, located to the west of the Waldorf Astoria Residences, according to the release.
The tower will stand 28 stories tall, overlooking a 2-acre beachfront section. Designed by Miami-based Nichols Architects, the building will combine a white facade with gilded accents and glass-walled balconies with curved dividers scattered throughout. The property will display selections from the contemporary art collection of Related Group’s founder, Jorge M. Perez.
Each unit will have a private elevator and entry foyer, wine refrigerators, built-in coffee systems and smart home capabilities. Residents are also given Hilton Honors Diamond status for the length of their ownership, offering discounts and other benefits at Hilton properties.
