Developer: Economic Forces Catapult Fort Lauderdale Onto The World Stage

There is a time in the life of a city when economic forces that have been building for years cement its status on the world stage.

This coming-of-age is typically a result of the inter-related advantages of geography, port access to foreign trade, cultural diversity, creativity and substantial public and private investment in these assets. Despite cyclical ups, downs and corrections, the city’s durable economy will survive and thrive.

Riva rendering

Riva rendering

According to Bradley Deckelbaum, a fourth-generation residential real estate developer who is building RIVA, a new luxury condominium in Fort Lauderdale, that time is now.

The term “Greater Fort Lauderdale” more accurately defines the statistical market comprised of downtown, beachfront and suburban neighborhoods in Broward County’s 31 municipalities, of which the City of Fort Lauderdale is the largest and the county seat. Broward County has invested substantially in the expansion of Port Everglades and Fort Lauderdale/Hollywood International Airport.

GlobeSt.com caught up with Deckelbaum to dive into his reasoning in part one of this exclusive interview.

Globe Street: What makes you believe Fort Lauderdale’s time has come to be acknowledged as a world-class city?

Deckelbaum: Fort Lauderdale has developed a strong economic foundation of its own, with cruising, tourism and the marine industry among its pillars, capped off with a thriving arts scene and nascent tech sector capped. These fundamental backbones are reinforced by a diverse range of industries which include real estate, manufacturing, finance, insurance, technology and avionics/aerospace.

Globe Street: Other than a strong economic foundation, what are other necessary factors which enable a city to become a favored destination?

Deckelbaum: We are fortunate that our city officials have routinely supported smart growth and development of a walkable downtown connected to the beach, where people can live, work and play. This, combined with a growing creative class of entrepreneurs, professionals, artists and others are bringing new ideas and creative energy.

Globe Street: Are you seeing more interest from buyers and brokers who previously only had blinders on for Miami?

Deckelbaum: Yes, and the interest we’re seeing it’s not just from buyers. Luxury condo developers who used to be stuck on Miami are warming up to Fort Lauderdale. Many well-known Miami developers who in years past sold heavily to Latin Americans are now building condos in Fort Lauderdale. Given the strength and stability of the of the US economy as a place to invest in real estate, there is every reason to believe that Fort Lauderdale will continue to attract more foreign buyers in years to come.

 

Source: GlobeSt.

Leave a Comment