First-time real estate developer moves forward with $370M South Florida project
A first-time real estate developer is moving forward with his large scale, mixed-use development in Broward County.
Guiseppe Iadisernia broke ground on the 10-acre, approximately $370 million project Oasis Hallandale at 1000 E. Hallandale Beach Blvd. in early May. Located five minutes away from Gulfstream Park Racing and Casino, the development includes five commercial buildings — with a total 59,219 square feet of retail and restaurant space — 34,691 square feet of office space, and 1,486 parking spaces, according to a press release.
The project also includes plans for two 25-story condominiums. The towers will each have 250 units, ranging from a one bedroom, one-and-a-half bath unit spanning 891 square feet to a three bedroom, three-and-a-half bath condo covering 1,843 square feet. Units start at $427,000. Amenities include indoor and outdoor movie theaters, gym, ping-pong room, pool and 24-hour lobby attendants. Though not on the water, the units offer ocean views.
Architect Bernardo Fort-Brescia, principal of Coconut Grove-based Arquitectonica, designed the project.
The project is due for completion by 2025.
“We’ve been in the early stages of construction and the work being done hasn’t interfered with any government recommendations. We think it’s important to keep the momentum going for our community. Our in-house sales team has discovered they could be very successful via digital platforms,” Iadisernia said by email.
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Oasis International Realty Company, led by Norma Campos, is overseeing sales for the residential towers. She said that 60% of two of the five commercial buildings have been reserved.
“The pandemic has threatened the state of the market but I believe South Florida will come out of this very strong. People are learning to adapt to new methods of business and buyers are beginning to reevaluate their priorities, searching for ample square footage in proximity to the outdoors. Being now more connected than ever, it’s true that people are realizing much of our day to day could be done electronically but this will never fully replace face-to-face interaction,” Iadisernia said.
South Florida’s growing population and Hallandale Beach’s location between Miami and Fort Lauderdale drew Iadisernia to the vacant site, formerly owned by development firm Chateau Group. Iadisernia paid $12 million for the land in 2013 and received initial approvals in 2016.
“Hallandale Beach is evolving from a destination that was widely known for snowbirds and retirees into one of the fastest growing cities of Broward county set in a prime location. With so many people having their eyes on South Florida, we need to create hubs beyond Miami-Dade. Hallandale gives buyers the best of both worlds with leisurely landmarks in close proximity to the beaches such as Gulfstream Park, Aventura Mall and a great selection of high-end restaurants,” Iadisernia wrote.
The Italian-born Iadisernia has lived in South Florida for the past 15 years. Raised in Venezuela, Iadisernia established the electrical equipment company, Iadiexport, located just outside of Caracas, before moving to the States. Today, the company has 400 employees, he said.
He has established other companies since living in South Florida, including the Hallandale-based horse training facility Big Stable and Wellington-based Git Barn Manure and Waste Management Removal.
The coronavirus has caused delays for some construction projects in South Florida. But others say they are on track for their original completion dates, including 57 Ocean in Miami Beach, Aston Martin Residences in Brickell, and Missoni Baia in Edgewater.
This story was originally published May 21, 2020 at 7:00 AM.
