Hallandale Beach: South Florida's Next Real Estate Hot Spot

The scene from the oceanfront pool at 2000 Ocean, a new Hallandale Beach, Fla. waterfront luxury multifamily development from KAR Properties.KAR Properties

It wasn’t all that long ago that Hallandale Beach, Fla. was little more than a scruffy beach town. Today, having found itself the epicenter of a real estate investment boom, it is rapidly on its way to emerging as South Florida’s next prime real estate nexus. In keeping with its new standing, the city is undertaking enormous renovation projects, constructing new developments and welcoming the arrival of upscale restaurants and shops.

With an estimated population of nearly 40,000, Hallandale Beach is among the fastest-growing Broward County municipalities. It has long been so well known for Canadian snowbirds wintering near its Atlantic Ocean beaches that it has sometimes been dubbed “the southernmost Canadian city.” But today it has also begun attracting a more global contingent, with a number of Europeans buying vacation homes. They are lured in part for the convenient location between Miami and Fort Lauderdale, and closeness to Fort Lauderdale-Hollywood and Miami International Airports, the Port of Miami and I-95.

Some new arrivals have no doubt been drawn by Hallandale's various high-end amenities, fine dining and luxury shopping venues. Among the city's prime recreational offerings are the upscale Diplomat Golf Course and the $9 million Gulfstream Pegasus World Cup Invitational, which since its 2017 debut has become known as the world's richest thoroughbred horse race, and increasingly a winter racing season highlight.

Not far from Hallandale Beach is the second largest mall in the U.S. in terms of retail space. Located on Biscayne Boulevard, Miami's Aventura Mall is anchored by Bloomingdale's and Nordstrom and offers a vibrant array of more than 300 individual stores and shops. Also nearby is ETARU, a newly unveiled Japanese Robatayaki concept restaurant from famed international restaurateur Rainer Becker, creator and co-founder of Zuma Restaurants around the world, as well as ROKA London.

Don't forget beaches

Last but far from least are the beaches of Hallandale Beach. The city serves up some of the most beautiful and hidden sandy expanses in all of South Florida. The beaches of Hallandale Beach are distinguished from other Broward County beaches by their distinctive views and the protected native coastal vegetation.

Speaking of the city's waterfront, a number of developers have begun scouting locations in Hallandale Beach due to Miami's increasing scarcity of waterfront land. Among the newer Hallandale Beach oceanfront developments are the following:

Hallandale ArtSquare. Completed last spring, this six-building mixed-use community features 368 rental apartments, a fitness center, resort-style pool, outdoor fire pit, entertainment lounge and 12,000 square feet of shopping and dining space.

2000 Ocean. New York City, NY-based KAR Properties developed this private residential nook, providing resort-style living. Featuring design by architect Enrique Norten of TEN Arquitectos and concept design by Kobi Karp, 2000 Ocean is a 38-story glass tower fronting the Atlantic Ocean's white sands that features 64 beachfront homes. It is not only the newest landmark development to come to the city, but also the first residential project in the United States furnished by Italian design brand Minotti.

The partnership with acclaimed Italian design brands Minotti and minotticucine allows KAR Properties to imbue 2000 Ocean with a heightened sense of unalloyed elegance and personalized interior design services.

Reflected in prices

The growing exclusivity of Hallandale Beach is reflected in the median sales price per foot of $209, approximately 10 percent higher than Broward County average. The recent costliest single-family home listed in Hallandale Beach is a 4,819-square-foot waterfront home on Oleander Drive with four bedrooms and 3.5 baths, listed for $6.99 million.

The highest sale price was for a 4,747-square-foot five-bedroom, 4.5-bathroom waterfront home at 455 Holiday Drive that sold for $1.89 million last year.

It's a far cry from the late 19^th Century days when the area's first European-descended resident (and town namesake), Luther Halland, touted its then most appealing quality.

Cheap land.

Hallandale Beach: South Florida's Next Real Estate Hot Spot curated from Forbes - Real Estate