Boutique condo planned in Fort Lauderdale; prices range to $1.7 million
By Paul Owers, Sun Sentinel 5:15 p.m. EDT, April 9, 2014
A developer that built 10,000 condominium units in Panama and Venezuela has started construction on its first residential project in the United States — a boutique waterfront condo in Fort Lauderdale. Grupo Alco is building Adagio On The Bay, a 12-unit development at 1100 Seminole Drive. The site overlooks the Intracoastal Waterway and Hugh Taylor Birch State Park.
Prices range from $1.5 million to $1.7 million. Four of the units already are under contract, said Leonardo Coll, president of Grupo Alco. The two- and three-bedroom condos are about 3,000 square feet. Amenities include designer finishes, floor-to-ceiling windows, wine coolers and a private marina.
Adagio is expected to open by the end of 2014, Coll said. Grupo Alco paid $1.8 million for the Adagio site in 2012, Broward County property records show. "We were very sure that when we invested in Fort Lauderdale, the economy was coming back, and we were right," said Coll, whose father started the firm in 1958 in Venezuela. It recently opened an office in Fort Lauderdale.