In 2012, with the housing market starting to recover from a prolonged downturn, Grand Birch LLC paid $2.45 million for less than an acre along North Birch Road in Fort Lauderdale.
The plan was to build Privage, an 11-story condominium with views of the ocean and Intracoastal Waterway.
Four years later, the project is on the verge of breaking ground — but with a new name and a different developer that paid a premium for the site.
Boca Raton-based SobelCo. has launched sales for 321 at Water's Edge, a 23-unit condo at 321 N. Birch Road. Construction is set to begin in the fall, and the project is due to open in early 2018.