Florida, like much of the U.S., is rebounding and as a sign of this rebound commercial space is growing. With more people working and more money being spent, businesses are looking to either expand in Florida or move here. As the South Florida Business Journal reports, two new commercial projects are being considered by Fort Lauderdale.
The Fort Lauderdale Development Review Committee will take a look at two proposals for local commercial projects. The projects include a self-storage facility and an EB Hotel. One of the major issues of the proposals to consider is the need to rezone the area that the hotel would be built on. The hotel would be the second EB Hotel for Florida and provide 178 rooms and nine stories of luxurious living space. The development of the area for the hotel would require three parcels, currently owned by another properties company, to be rezoned.
The self-storage unit also being considered is the area's answer to the needs of hundreds whose apartment buildings are undergoing almost constant remodeling. The five-story storage facility would be placed on a 1.5 acre lot that was purchased back in September for $3.2 million. The developers of the self-storage project started their business in 2014. Since then the demand for storage facilities in the area has grown to warrant their expansion into the Pembroke Pines and Fort Lauderdale area.
For residents everywhere seeing commercial development usually prompts a sigh of relief. Even though there seems to be a lot of developing going on in the area, there are always more plans in the works. For developers and individuals looking for information on Florida commercial real estate, rezoning laws and development, speaking to an attorney may help provide answers.
Source: The South Florida Business Journal, "Fort Lauderdale considers two major projects, including EB Hotel," Brian Bandell, Nov. 24, 2015