Yearly Archives: 2016

The Miami to Fort Lauderdale Train is Coming!!!

Coloney Group 26/12/2016

As a partner of All Aboard Florida’s Brightline, The Coloney Group got a sneak-peek at the progress of this passenger train that will connect downtown Miami–Downtown Fort Lauderdale–West Palm Beach in under 30 minutes from one city to the next!!! For more information about the Passenger Rail Station, visit: http://allaboardflorida.com/stations/fort-lauderdale.

For more information about what this exciting development means for Fort Lauderdale Real Estate, call me now 954-801-7320.

 

 

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‘North Beach Village’ developer ends renovation of three motels, sells properties for $12.1 million

Coloney Group 19/04/2016

By Arlene Satchell

Sun Sentinel

February 12, 2016, 6:49 PM

A company tied to Swedish developer Par Sanda — who spearheaded transformation of a group of mid-century mom and pop beachside motels into the “North Beach Village” — has sold three motel sites for $12.1 million, Broward County records show.

The former Martindale motel at 3016 Bayshore Drive had been earmarked for redevelopment along with two adjacent parcels. Sanda and his team had planned to reopen the sites as a 100-room resort called Flow.

The adjoining lots previously were occupied by the Sandy Shores and Seaside motels.

Property sales records show Fort Lauderdale-based Flow Hotel LLC as selling the three motel sites, totalling 25,865 square feet, to Bayshore Hotel LLC.

Florida business records list Bayshore Hotel’s manager as Pawel Plata, who is also associated with the nearby Shell motel at 3030 Bayshore Drive, which is closed for renovations. He also is connected with the Seville Hotel & Apartments a few blocks away.

Sanda’s investment company bought the Martindale and other two motels for $4.9 million in April 2013.

Christine Sposa, vice president of operations at North Beach Village Hotel Properties, the Sanda affiliate that oversees its hotel operations, said the decision to sell the Flow property to Plata made sense as he shares a “similar idea and vision,” for the neighborhood.

Plata had started renovating the adjacent Shell hotel when the Flow redevelopment began, and he was “intrigued” by Sanda’s plans, Sposa said.

Redevelopment of the triple-motel site began in late 2013 and the first phase of the new Flow hotel — 25 rooms — was initially expected to open in spring 2014. That didn’t happen and the project wasn’t completed.

Sposa said recent talks between Sanda and Plata about the site’s future eventually led to its sale.

“[Plata] loves the area and sees great things happening here,” said Sposa.

Plata could not be reached for comment Friday.

With the Flow project out of the pipeline, North Beach Village Hotel Properties is focusing on continued beautification and improvements at its existing properties, Sposa said.

By late March or early April, 16 new rooms will be added at the company’s  Tranquilo hotel on Vistamar Street as part of a renovation of an adjacent property, she said.

The company also recently reopened its outdoor eatery Plaza Bistro during weekends.

Since 2010, Sanda’s investment companies have purchased more than 35 low-rise buildings and lots and spent about $80 million to create the European-style village between Fort Lauderdale beach and the Intracoastal Waterway west of the Hilton Fort Lauderdale Beach Resort and south of Bonnet House.

Renovations of several 1950s-era motels and inns in the area have taken place, by Sanda and other property owners.

Today, Sanda’s North Beach Village Resort collection of 16 boutique properties also include the Cocobelle Resort, Tara hotel, Aqua, Beach Gardens, Royal Palms and Tropirock and Solas hotels.

Last year, the company opened an art gallery in a building previously used for short term-residential rentals called Village Design as part of its desire to expand entertainment and dining options.

“It’s becoming a cool place for event space,” Sposa said.

Prior to that, the company opened its 15-room flagship North Beach Hotel at 551 Breakers Ave., which offers a mix of deluxe studios and one-bedroom units as well as two penthouses with full kitchens.

The hotel’s Village Café restaurant and bar has also become a popular neighborhood dining and entertainment spot, she said.

Demand for North Beach Hotel’s penthouse space, which features a multipurpose loft with its own balcony terrace and entertainment area, has been growing since its opening, Sposa said.

“Now things are really starting to take off,” she said. “Since we hired an event coordinator we’ve been doing site tours like crazy. This year is going to be a big boom for us [with events].”

Staff researcher Barbara Hijek contributed to this report.

asatchell@tribpub.com, 954-356-4209 or Twitter@TheSatchreport

Copyright © 2016, Sun Sentinel

This article is related to: Commercial Real Estate

Satchell, Arlene. ‘’North Beach Village’ developer ends renovation of three motels, sells properties for $12.1 million’. Sun Sentinel 2016. Web 12 Feb. 2016.

 

 

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Brightline and The Wave, Florida’s Planned Train and Streetcar Systems

Coloney Group 14/03/2016

Left image by Brightline. Right image by Wave Streetcar

Brightline

“Sleek, modern, and 100% American made. This is Brightline. The express train service that’s coming to Florida in the form of a brightly colored fleet connected to a high-tech locomotive.

Designed with their guests and optimal efficiency in mind, their locomotive and passenger cars are being manufactured in California by Siemens USA, the global powerhouse of innovative train-builders. And a fuel-efficient Cummins diesel-electric engine built in the heart of Indiana will power the locomotive with 16 cylinders pumping up to 4400 horsepower for optimum reliability and consistency. The lightweight engine is designed to have lower emissions and reduced noise, plus positive pressure clean air management and energy efficient LED lighting throughout. It’s their smart locomotive that is powering your trip.

The ingenuity of their train service is obvious both inside and out. From the fun of trying to ride each of the bright orange, green, pink, blue and red colored cars, to simply enjoying your view out of their giant picture windows that are perfectly aligned with every seat.

Choose between two tiers of available seating options – Smart and Select – and enjoy free Wi-Fi, smartly placed power outlets, and custom built leather seats with plenty of room and multiple seating configurations! Within each tier, there will be a quiet car where you can work or relax, and a social car for when you’re traveling with family, friends or colleagues.

You can enjoy a cup of coffee or glass of wine delivered right to your seat or check out a new take on a train café car designed to meet your every need; stocked full of quality food and drink options, wine and local beers, a retail store, souvenirs and entertainment.”

Source: http://www.gobrightline.com/train

The Wave Streetcar

The Wave Modern Streetcar is a 2.8-mile streetcar system that will serve as a local circulator in Downtown Fort Lauderdale. Once people get to Downtown, they will have a viable transportation option that will help them to transport “beyond the car” by using The Wave, to move around quickly and safely.

It is expected that, once completed, the Wave will encourage private investment to bring new housing, shops, restaurants and retail opportunities. It is also expected to connect Downtown’s many points of interest and link to the regional transit network.

The Wave is environmentally sound. The streetcar is powered by electricity, which when compared to gasoline, significantly reduces emissions and harmful air pollutants. It also provides a quiet ride, unlike the bus that operates on a noisy combustion engine. Additionally, the streetcar glides on steel wheels while the bus uses rubber tires that are not environmentally sound and are difficult to dispose of.

In early 2014, it was announced that the Wave Streetcar project was recommended for $50 million in Small Starts grant funding in the Fiscal Year 2015 United States Department of Transportation budget, providing additional funding required to design and construct the project. A consultant is being procured for the Final Design of the project which will be completed during 2014-2015. Technical specifications are being developed for the procurement of the streetcar vehicles with a goal of receiving delivery of the vehicles in 2017.

Source: http://wavestreetcar.com/about_the_project

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New cash regulation in Miami leaves Ft. Lauderdale best place to invest 2016

Coloney Group 19/02/2016

As international investors seek new opportunities within the U.S., real estate and additional developing markets continue to attract attention. At the Coloney Group, we work with investors from around the world and aim to find the best investment opportunities in Florida.

Recently, Miami-Dade has begun to explore the possibility of implementing additional verification requirements for international investors and partners. These new checkpoints could reveal investor information for international buyers, like full names, addresses, and country of origin. Law enforcement has said this is necessary to minimize money laundering and other kinds of crime. The Coloney Group recognizes that all cash transactions are necessary in real estate to expedite the process, so we are helping our clients invest in Ft. Lauderdale in addition to Miami.

Ft. Lauderdale presents several opportunities for the discerning investor and first time homebuyer alike. The rental market is extremely strong. Prices are as high as ever and inventory is extremely low, which makes a great scenario for landlords/investors. Fort Lauderdale has been consistently listed as 1 of the top favorable investor markets in the nation. It’s a remarkable time to invest and purchase properties here.

The Coloney Group can help you find the investment property or home of your dreams. We work with agents and professionals all over Florida, and can guide you through all of the processes necessary to obtain property. The Coloney Group also can share access to our exclusive listings.

If you are considering Florida as your next investment destination or as the location of your future home, be sure to reach out to our trusted, world class real estate gurus at The Coloney Group. We consider each client a partner and can pull from over three decades of experience in Florida to reach your goals. Give us a call today to discuss your needs

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