Downtown Fort Lauderdale has a lot going on these days where it is clear that it’s quickly becoming a hot spot. Now a developer is proposing two towers totaling 879 units spread over two towers. This will be a mixed-use development on the 500 block of South Andrews Avenue. The project has a large scope which will also include a 36 story building with over 300 hotel rooms along with 200,000 square feet of offices and 52,000 square feet of retail space. At this juncture it is not clear whether the residences will be condos or apartments.

The downtown Fort Lauderdale area is booming with over 15,000 apartments and condos that have been approved and built in recent years as a “live-work-play” destination is being created. Just as recent as January the city commissioners approved another 1,200 apartments along the Las Olas Riverfront.

Although most developers will typically try to ask for more units than the city approves, this development proposed as “Southside CityCentre” is still in the early stages of approvals. Mayor Jack Seiler states that the area is on the radar for being prime for workforce housing. He recently states That’s going to be a good thing,” Seiler said. “Affordable, workforce housing is desperately needed in the downtown corridor.”

As with most larger developments, Seiler is concerned about the traffic and impact this will have on the immediate area. The hopes are that with more of these developments being so close to area amenities, walking will be more encouraged with the close proximity.

The project is quite large and ambitious considering all that his has to offer. However, the developer is continuing to go through all of its due diligence for approvals just as anyone would. The general consensus is that it will most likely go through in some fashion even with some scaling back on the project’s scope.

According to “The Real Deal’s” Broward Showcase and Forum, the residential real estate market of Broward County is attracting more and more buyers from the Northeast and Miami areas.

Panelists at the meeting stated that many of the buyers seen as of late have been residents of the Northeast, Miami as well as foreign buyers. It was shared that condo sales at the Paramount Fort Lauderdale Beach development have been approximately 30% foreign buyers from predominantly the Latin Americas. The interesting thing is this is typically the crowd that areas like Miami will attract.

In general foreign buyers have been coming from countries such as Canada, Brazil, the United Kingdom and Venezuela as well as a large influx from the Northeast. In addition, as some of South Florida has seen some price cuts, Broward by and large has seen prices increasing. Panelists shared that there is a decent amount of inventory for condos priced over the $1 million mark with several months of supply. However in the single family segment of homes under $500,000, the market is as tight as a drum. Most homes that come available on the market and are renovated do not last and are swept up by immense buyer demand.

The level of affordability and popularity of Fort Lauderdale has also caused buyers to consider it over Miami. Downtown areas are becoming more and more developed which is catering to those who want a lifestyle where you can walk to work as well as shopping and dining options. The live-work-play setup is becoming a desired option in which Fort Lauderdale is now offering. It was also stated that there has been more buyers from Miami in the last two years than by comparison to the last ten years.

Interested in what properties are available on the market now? Contact me today for more details.

The 2.3 acre site in Fort Lauderdale has been purchased for $4.65 million with plans by the investor group to build a mixed-use development with a residential component. Project Manager, Steve Dapuzzo, has shared that the development is going to be called “West Side Market” and is slated to have a brewery, food hall, rooftop garden and 100 apartments.

The site is ideally located at the corner of Sistrunk Boulevard and Northwest 2 Avenue near Flagler Village and just a couple of blocks away from the train station that All Aboard Florida is creating for its Brightline passenger rail service.

Dapuzzo states that the first phase of construction will be for the food hall and the brewery. The second phase would be the construction of the 100 loft style apartment residences. Additional details include that the apartments would be “micro-lofts” that will be suitable for those who are seeking live/work spaces. Anticipated completion will be in 2019.

The development will be the first major commercial construction project that is located west of the railroad along Sistrunk Boulevard. Over a year ago another potential buyer had put the property under agreement but didn’t close as they had reservations about the area. However, as time progresses there have been more and more buildings erected in the area with more on the horizon making this location more of a prime destination. Fort Lauderdale’s Community Redevelopment Agency is excited that West Side Market will bring more life to the area making it as vibrant as it was years ago.

As more development, offices, transportation and retail establishments are emerging, the downtown area is soon to be a booming and hot destination sought after by many.

The spring is typically a time when most everyone has taxes on their mind. For some of us, this can mean making final payments while others will be lucky enough to receive a nice refund check. Regardless of your particular situation, one thing we all have in common is we all have to pay our taxes. Here are 6 things that you can take full advantage of when you are preparing your next return.

Home Office – If you don’t already have a home office, you may want to invest in creating one. Having an office allows you to take a tax deduction in a couple of ways. You can do this with the simple method of $5 per square foot or you can calculate a percentage of your home’s electric bills and expenses. However, you must use the office regularly and exclusively for work as well as record your expenses by keeping receipts.

Pay Property Tax early – This can work to your advantage for whichever year you may need to take a larger deduction. For example, you may get your tax bill in December with a due in late January. Pay it in December if you need a larger deduction for that year, or don’t pay it until January if you estimate that you will need a larger deduction in the following year.

Solar Panels – “You can take a credit of up to 30%, with no cap, on the equipment and installation costs of solar energy panels and solar water heaters you purchase in 2017,” says Jacob Dayan, partner and co-founder of CommunityTax.com. This equipment must be used to heat water or power either your primary or second home. This cannot be used for a luxury item such as a pool or spa.

HELOC for improvements – If you are going to be building an addition or doing a significant remodel, consider taking out a home equity line of credit. The interest on the loan is tax deductible which means that the upgrades can be a lot cheaper for you.

Home Improvement Receipts – Make sure that you keep records and receipts of improvements that you make to your home. Any significant improvement like a kitchen remodel, new roof or furnace can be used against your capital gains taxes you may have to pay when you sell the home.

Pay Points – If you intend on buying a home this year or think you will be refinancing, then you could save on taxes in terms of points. Points are also known as loan origination fees or discount points which is prepaid interest. If you are going to be purchasing a home, then you can deduct them for the year that you make the purchase. If you are just refinancing, then you can deduct them over the whole term of the new loan.

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If you in the market for a home in South Florida, don’t overlook Fort Lauderdale. The area is no longer just a spring break destination as it is chock full of superb dining, shopping, entertainment, arts and now luxury condo living. Here are 9 new luxury developments that are emerging in Fort Lauderdale.

The Residences at W Fort Lauderdale
All 171 unit owners can enjoy the luxury services of the W Hotel while residing in these homes featuring Italian cabinetry, stone counters, entertainment systems and more. Priced from $730,000 to $1,500,000 these homes are available for immediate occupancy.

100 Las Olas
Soon to be Fort Lauderdale’s tallest tower, this 46-story building will feature 121 residences and a 238-room Hyatt Centric hotel. Homes feature Nolte cabinets with quartz countertops, Jenn-Air appliances, and Grohe and Kohler plumbing fixtures. Common amenities include an observation deck, a fitness center, pool, cabanas and a club room. Delivery is projected in fall 2019. Priced from $800,000.

321 Water’s Edge
321 at Water’s Edge will have an exclusive 23 waterfront homes, ranging in size from 2,800 to 3,800 square feet. Designer kitchens boast custom Italian cabinets, Hansgrohe fixtures, quartz countertops, and Gaggenau appliances. Building amenities include a chic lobby, a private wine club and lounge with personal wine storage, fitness center as well as a waterfront pool and a private marina. Projected completion will be December 2018 with prices from $1.95 million to $3.5 million.

Auberge Beach Residences and Spa
This development features two towers on 450 linear feet of beachfront land offering 171 units. The development’s North Tower, with a glass-encased lobby and a restaurant from a Michelin-starred chef, is slated for completion by the end of 2017, while the South Tower, with a world-class spa, is expected to be finished by mid-2018. Priced from $1.5 million to $9.8 million.

Botaniko Weston
Spread out on 121 acres, Botaniko boasts 125 single-family homes with 5 to 7 bedrooms each varying from 6,500 to 9,700 square feet. These homes boast modern interior-design schemes by V-Starr Interiors, the firm led by tennis champion Venus Williams. Estimated delivery will be in the fourth quarter of 2017. Priced from $1.9 million.

Coral Ridge Country Club
Enclave is perfectly situated on 22 acres within Coral Ridge Country Club, the Enclave is comprised of 36 single-family homes at a championship golf course. Renowned builders include Bomar Builders and Grey Door Luxury Homes, however you can choose your own builder as long as they get approval from the homeowners association. Residents can apply for membership in the country club, with amenities including a pool, dining, and tennis courts as well as the 18-hole golf course. Priced from $800,000 to $1.4 million.

Ocean Resort Residences
This development has 290 units which are fully furnished including features such as curved screen televisions, spacious private balconies, marble entry foyers, and kitchens with Sub- Zero and Wolf appliances. Amenities include a pool, cabanas, a poolside restaurant and bar, fitness center, a Conrad-branded spa, and an on-site gourmet market for convenient shopping. Priced from $400,000.

Paramount Fort Lauderdale Beach
Adjoining the beautiful gardens of Bonnet House, this 95-unit development boasts townhomes and penthouses as well as traditional condominium units. The homes contain semi-private elevators, gourmet kitchens with Italkraft cabinets, quartz countertops, and appliances by brands such as Sub-Zero, Wolf, and Bosch; and wine storage. The building also includes an oceanfront restaurant, a club room with a private dining room, fitness center, a pool with food and beverage service, and concierge services making it luxury complete. Completion is set for this summer with available units priced from $1.2 million.

Riva
This 100-unit luxury condominium building is the first on Middle River in Fort Lauderdale with 15 stories. Riva has a private club for residents, fitness center, club room, exhibition kitchen, spa, private wine lockers, pool, cabanas, and dog walk. Completion is slated for late summer 2017 and priced from $700,000 to $2.65 million.

There can be a lot of excitement when purchasing a home as you are envisioning your new life in this property, but it is important to keep your emotions at bay while you stay on track with the steps of the sale. Home purchases can and do in fact fall through at times and according to the National Association of Realtors, 1 in 16 deals do not close. Why do these deals falling apart? Here are some of the top reasons so that you can avoid them.

Changes in credit
Your credit can fluctuate throughout the course of a deal. Things like a missed payment, opening up a new credit card, making a large purchase all can have an affect on your credit score. Make sure you are making your payments on time and avoid making any large purchases so you don’t jeopardize your eligibility for a mortgage.

Home Inspection
A home inspection is always a wise thing to do. Keep in mind that no property is perfect and most will have something come up even if it is relatively minor. Try to keep things in perspective if there are necessary repairs. For more significant issues, you may try negotiating with the sellers to see if they will work with you on the issue.

Failure to get pre-approved
Every buyer should connect with a reputable mortgage agent before they even begin their home search. Only a mortgage agent will be able to provide you with a pre-approval letter that lists the amount that you can afford. This letter is also helpful to accompany offers so that sellers know they are working with a qualified buyer.

Running out of funds
Your downpayment is not the only thing that you will need to have cash for. In addition, there are miscellaneous moving expenses, potential repairs and closing costs at the very least. Your mortgage broker can provide you with a good faith estimate for what you will need regarding monies that are directly related to the deal.

Loss of perspective
Sometimes even the smallest things can get blown out of proportion. Keeping in constant communication with everyone can help avoid many of these potential issues. Don’t lose sight of the big picture as well as sometimes the smaller issues really don’t matter so much in the end.

Cold feet
Buyers many times get emotional and excited during the home search and offer process. Once the inspection report is complete and is followed by paperwork and writing checks the purchase becomes a true reality. In the end, homeownership is worth it as you build equity in the home that you will begin making new memories in.