New condo development proposed for Singer Island.
The 259,800-square-foot, eight-story project is planned for a 1.86-acre site at 2525 and 2429 Lake Drive, the South Florida Business Journal reported. It would have 135 mostly one- and two-bedroom units, a pool and amenity deck, as well as a renovated 16-slip marina that would be available for public lease. The project’s architect is Torti Gallas and Partners, and the project’s developer is Singer Island Gateway LLC.
The property was acquired out of foreclosure in 2013, according to the developer’s application, and contains an old condo building damaged by hurricanes in 2004. The application estimates construction cost at $55 million, and the eventual annual real estate taxes to the city at $600,000 to $650,000.