Under the radar pocket markets in South Florida are becoming hotspots for buyers and developers.
Hallandale Beach has one of the fastest growing populations in Broward County. Currently, the population is 40,000 but the city says it anticipates its population to grow by 30 percent over the next five years.
“This is midpoint. You have Miami Airport, Fort Lauderdale Airport,” Shahab Karmely, CEO of Kar Properties said.
Hallandale Beach has found itself in the middle of a real estate boom. Developers say they see the area as underdeveloped and a place for opportunity.
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“I came across this just sleepy beautiful stretch of beaches, not crazy,” Karmely said.
Now, you’ll find luxury high end buildings stretching the coast, like 2000 Ocean. It’s a resort-styling private residential building. Plus, there’s also cool new entertainment spots like the Carousel Club at Gulfstream Park.
“The property itself is spectacular, we’re fortunate enough to create a concept to fuse thoroughbred horse racing with local South Florida hospitality,” Emi Guerra, co-founder of Breakwater Hospitality Group said.
Now, a new wave of people are falling in love with the once retiree escape.
“I feel we’re lucky to be apart of the growth of Hallandale Beach,” Guerra said.
$1 billion worth of development is underway in the city according to the Hallandale Beach CRA. Developers say they are finding what’s left of South Florida that’s not quite established, but have the foundation in place to be something great.