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Paramount Fort Lauderdale – First Luxury High-Rise in 10 Years

August 14, 2014

iHummingbird is proud to announce that Paramount Residences Fort Lauderdale, a new luxury condominium high rise, has chosen iHummingbird as its exclusive “Smart” Technology Home Automation provider. All 95 residences will have an iPad, Launchport on-wall docking station, Sonos Music system, Nest thermostat, Apple Network router and Seura 27″ waterproof, flush mount TV with iPad control as standard features. The showroom, located across from Shooters Restaurant on Oakland Park Blvd. and the intercostal, 3020 NE 32nd Ave., Ft. Lauderdale, is now open and taking reservations. In less than 6 months, Paramount Fort Lauderdale has already sold 38 of the 95 units. iHummingbird will be designing, installing and working with each resident to synch and optimize the standard technology features as well as offering upgrades from motorized shades, additional music zones, surveillance cameras and media systems to customize their home.

Paramount Fort Lauderdale BeachThe visionaries behind Miami Worldcenter, the 30 acre mixed-use project in downtown Miami, Art Falcone andNitin Motwani, have teamed with longtime Florida developer Daniel Kodsi to bring Fort Lauderdale its first luxury condominium on the beach in a decade.

Paramount Fort Lauderdale Beach, an 18-story, condominium tower will be developed through Encore Housing Opportunity Fund, which Falcone co-founded and leads. Kodsi will jointly develop the project, which will be the brand’s second outpost since launching Paramount Bay in downtown Miami.

Officially launching sales today, the 95 residences will be exclusively marketed by OneWorld Properties led by President and CEO, Peggy Olin Fucci.

Boasting a prime, oceanfront location on Florida’s Gold Coast, Paramount Fort Lauderdale Beach will rise on the site of the former Howard Johnson hotel at 700 North Atlantic Boulevard along the historic A-1-A thoroughfare. Overlooking the lush landscaping of Bonnet House Museum & Gardens and the endless Atlantic shoreline, the development’s ideal setting offers sophisticated city living within walking distance of popular area restaurants, boutique shops and entertainment venues while providing an exceptional beachfront lifestyle.

Focused on creating a one-of-a-kind lifestyle experience, Paramount Fort Lauderdale Beachwill be designed by Revuelta Architecture International, whose notable credits include theEpic Hotel & CondominiumsGrovenor House, and Jade Residences, with interiors by ID & Design International, who was recently tapped to design Zaha Hadid’s 1000 Museumproject, among others. Residences will range from 1,934 to 3,493 square feet with prices starting at $1 million. The building is slated for occupancy winter of 2016 and will have an 18-month construction window.

“We are excited to usher in a new era in Fort Lauderdale Beach with the introduction of Paramount,” said Falcone. “Paramount will be the market’s preeminent, 5-star luxury condominium and a driving force in redefining Fort Lauderdale Beach living.”

As the first condominium tower in the surrounding area to not include a hotel component,Paramount Fort Lauderdale Beach will create a true residential enclave offering intimacy and exclusivity, yet affording residents all of the family-friendly full-service amenities of a resort, such as multiple private pools, beachfront cabanas and club privileges, a fully-equipped gym, ground-floor restaurant, and a children’s play area. As the newest area high-rise in ten years, the building will also be among the most high-tech and high-touch with the most modern conveniences.

“Paramount Fort Lauderdale Beach will be representative of the brand’s commitment to delivering premier, customized environments that go above and beyond,” said Peggy Olin Fucci. “Meeting the increasing market demand for sophisticated living, Paramount will crystallize a vision for this community that is both unique and transcendent.”

Paramount Fort Lauderdale BeachOne of the project’s most outstanding features for developer Nitin Motwani, who grew up on Fort Lauderdale Beach, is the significance of the location.

“I remember when the Howard Johnson was considered the strip’s tallest building. It is such a privilege and unique vantage point for me to be involved in the area’s transformation,” saidMotwani, whose family has been involved in the repositioning of Fort Lauderdale Beach into a luxury destination for more than a quarter century. “Paramount offers buyers a unique window to be part of this resurgence.”

Motwani serves as Managing Director of Encore Housing Opportunity Fund, which currently has over $1 billion of planned investments in Florida, California, Texas, and Arizona. In addition to Paramount, Motwani is Managing Principal of the 27-acre Miami Worldcenter project in downtown Miami.

Art Falcone is an industry veteran with more than 30 years of experience purchasing, financing, developing and managing a wide range of real estate product types. Prior to Encore, Falcone served as CEO and Chairman of the Falcone Group, a vertically integrated real estate organization whose subsidiaries have developed billions of dollars of real estate across the country.

In this unique venture, Encore Funds has joined forces with Daniel Kodsi, best known as CEO of Royal Palm Communities, with 25 years of experience developing a diversified real estate portfolio of more than $1.1 billion in mixed use, multi-family, condominium and single-family home development. Having built 44 separate development projects and over 4,000 units in Florida, Royal Palm Communities is consistently credited for defining new neighborhoods with their award-winning projects.

“There are very few buildings which can truly say they will have transformed an area,” concluded Kodsi. “Representing a new paradigm for oceanfront luxury living in Fort Lauderdale, our development team is confident that Paramount Fort Lauderdale Beach will serve as a catalyst for future Paramount residential towers throughout Florida, as well as the rest of the country.”

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