Italian fashion house Armani is planning its second residential project in South Florida in an area that is seeing increased development along the waterfront for luxury condominiums.
Armani is teaming up with several South Florida developers to build the Armani/Casa Residences Pompano Beach at 1550 N. Ocean Blvd. in Pompano Beach, Florida.
Armani/Casa is joining a growing list of luxury towers rising in Pompano Beach that include the first-ever standalone Waldorf Astoria Residences, being developed by Related Group and Merrimac Ventures, and the Ritz-Carlton Residences from Fortune International Group and Oak Capital.
The Pompano Beach residential property is set to be "one of the most exclusive of those I have carried out to date," Giorgio Armani said in a news release. "I found the integration between the architecture, the natural landscape and the ocean particularly inspiring, and I was excited about the possibility of working for a demanding clientele, being able to convey my vision with complete freedom."
Other project partners on Armani/Casa Residences Pompano Beach include Vertical Developments, WellDuo, GCF Development and SP Developments. Plans include two 19-story towers comprising 28 oceanfront units. Each floor is expected to have a single residence with units starting at 3,250 square feet and going up to 6,000 square feet for the penthouse.
Pompano Beach "is increasingly becoming a sought-after destination in South Florida, and we’re seeing a significant shift in how people view Broward County overall," Tomas Sinisterra, president of SP Developments, wrote in an email to CoStar News. Pompano Beach offered the team "a unique opportunity to develop a luxury project in a rising market," offering a lower density and "unparalleled views, privacy, and exclusivity."
Prices begin at $5 million. Fortune Development Sales, a division of Fortune International Group, is leading the sales. Completion for the condos in the Pompano Beach area, a seaside municipality in Broward County about 33 miles north of Miami, is anticipated sometime in 2028.
Armani/Casa Residences Pompano Beach is the latest project in the United States from Armani/Casa, the furniture and home design division of Armani Group. Armani/Casa has developed residences across the globe, including in London, Beijing, Tel Aviv, Istanbul and Mumbai. It opened southern Florida's first Armani/Casa-branded condos in the Miami area's city of Sunny Isles Beach with Related Group and Dezer Development in 2019.
"Demand for luxury condominiums in South Florida has grown significantly over the last few years," said Sinisterra with SP Developments. He added that the team had seen a shift with a growing number of domestic buyers from major U.S. cities like New York and Los Angeles, citing the region's "favorable tax conditions, warm climate, and luxurious lifestyle."
According to the Miami Association of Realtors, Broward County has seen the strongest demand for condos priced over $1 million out of southern Florida's tri-county area. Condo sales were up 131% in Broward County in September compared to the same time in 2019, more than the 121% increase seen in Palm Beach County and 87% in Miami-Dade.
Armani's first Manhattan residential offering has been completely sold out. The 10-unit development with SL Green Realty is at 760 Madison Ave.
Branded residences across southern Florida have become increasingly popular as a way of attracting high-net worth individuals. The region is home to multiple hospitality-branded condos, such as the Ritz-Carlton Residences in Miami Beach, Ritz-Carlton Residences in Sunny Isles Beach and two St. Regis-branded projects — one in Sunny Isles Beach, also from Fortune International Group, and the second in downtown Miami under development by Related Group.
Other groups, such as car companies and additional fashion brands, have joined in the trend.
"We feel the city is perfectly positioned to become a prominent luxury destination, which is why we chose it for this collaboration with Armani," Sinisterra added.
Three of the developers on the Armani/Casa Residences Pompano Beach project — Vertical Developments, WellDuo and GCF Development — previously worked together, and are also working on Riva Residences, a yacht-themed waterfront condominium in Fort Lauderdale, Florida.
For the record
Architecture at Armani/Casa Residences Pompano Beach was designed by G3 Architecture. Landscape architecture was designed by West 8.