Ocean Land Investments acquired a waterfront condo development site in Fort Lauderdale for $9 million.
The local developer led by Jean Francois Roy and Dennis J. Eisinger purchased the 59-year-old co-op building at 920 Intracoastal Drive from 16 individual owners. It’s on the west side of the Intracoastal Waterway just south of Sunrise Boulevard. The Galleria Mall is just to the west. It overlooks the historic Bonnet House Museum & Gardens.
Ocean Land Investment plans to build the 17-story AquaBlu with 35 condos on the site. Units will range from 2,136 square feet to 4,295 square feet. They’re priced from $1.4 million to $3.8 million. Amenities will include a fitness center, saltwater pool, barbecue area, and game room.
"We are delighted to move forward with AquaBlu, and have appreciated the support of the community in working with us to bring our vision to fruition,” said Roy. "As we strive to revitalize this dynamic area of Fort Lauderdale, we are committed to delivering high quality residences that complement the natural beauty and sophistication of this community.”
Ocean Land Investments said nearly half of AquaBlu is pre-sold and the building should break ground in October 2015.
Ocean Land Investments is also building AquaVita, AquaLuna and AquaMar in Fort Lauderdale.
