Real Estate News

Luxury condo tower breaks ground at planned 65-acre project in Sunrise

From left to right: Trillist Companies president and CEO Scott Leventhal, Sunrise Mayor Michael Ryan, KGH International Development executive Michael Besso, KGH chairman and CEO Joseph Kavana.
From left to right: Trillist Companies president and CEO Scott Leventhal, Sunrise Mayor Michael Ryan, KGH International Development executive Michael Besso, KGH chairman and CEO Joseph Kavana.

Developers broke ground on a luxury condo tower in Sunrise on Tuesday, heralding the first stage of what they say will be a massive 65-acre, mixed-use development called Metropica near the Sawgrass Mills mall.

They also announced a host of new restaurants and shops for the project’s retail center, a 480,000-square-foot mall, including New York-based burger chain Shake Shack, Peruvian gastrobar Pisco y Nazca and clothing store Anthropologie.

The 28-story residential tower will include 263 condos with the luxury amenities that have become standard at projects downtown and on the beach: 24-hour gym, tennis courts, children’s play room, private club room, business center and movie screening room. Units range from $300,000 to more than $1 million, and are priced between $375 and $425 per square foot. That’s expensive for West Broward but still cheaper than new construction in Brickell ($641 per square foot) and Edgewater ($563 per square foot).

8Number of luxury condo towers planned for Metropica development in Sunrise

KGH International Development and the Trillist Companies have formed a partnership to develop the tower, which is being designed by London-based Yoo Studio. KGH chairman and CEO Joseph Kavana said his company will break ground on the mall in early 2016. Trillist is a partner only on Metropica’s residential side. Chad Oppenheim is the master planner for the entire development.

Also announced for the mall are retailer Free People, jeweler Kendra Scott, organic eatery True Food Kitchen, Mexican chain Salsa Fiesta, gourmet food shop Oil and Vinegar, and gaming arcade/restaurant Kings Bowl.

The mall will be anchored by luxury dine-in cinema iPic.

The developers said they ultimately plan to build a total of eight luxury condo towers with 1,800 residential units. Kavana has owned the land since 1995, but his initial plans to develop were derailed by the financial crisis in 2007.

  Comments