Ft. Lauderdale company gets loan for condo building construction

July 21, 2017 by  

AquaBlu Fort Lauderdale LLC has received a loan in the amount of $17m to continue construction of the new AquaBlu Condo tower.

The building is located along the Intracoastal Waterway, and construction is currently on the twelfth floor. This is after an $8m first mortgage was granted to the company in 2016 to begin construction. Both the first mortgage and the more recent loan were granted by New Wave Loans Residential.

The project broke ground in 2016. Ocean Land Investments, the company that manages AquaBlu, states the tower’s anticipated finish date is in 2018. Construction is being completed by Winmar Construction, and the building was designed by Borges + Associates. Many businesses use banner printing to create advertisements on construction fencing and barriers while a building is being erected.

The condos in the finished AquaBlu building will be in multiple sizes, ranging from 2,136 to 4,295 square feet. Pricing on the condos will range from $1.75m to more than $3.5m. The building is also slated to have many amenities, including a games room, barbeque area, saltwater pool, and fitness center. The tower will be 17 stories and will have 35 units. According to Ocean Land Investments, over 70% of the units have already been sold.

The area was originally purchased by the developer for $9m. The tower’s location is east of Galleria Mall, and is near the Bonnet House Museum & Gardens.