Ceiba Groupe is bringing an exclusive luxury rental townhome community to south Florida.
By Kat Zeman
A driving force in real estate development for south Florida, Ceiba Groupe is bringing a high-end project to the heart of downtown Fort Lauderdale.
ID Flagler Village will be the first and only new construction luxury rental townhome community in the area. The $15 million project is also the first of Ceiba’s new ID townhouse brand. ”We’re looking to develop more townhome communities in urban settings that give people the opportunity to have a single-family suburban environment in urban downtown areas,” Managing Principal Jeremy Bedzow says.
The luxury development broke ground in January and has a projected move-in date for early 2018. It boasts 24 three-story residences that feature a mixture of two or three bedrooms and 12 select units have a private terrace.
The project’s architecture, design and location are palpable representations of the burgeoning urban renaissance of Fort Lauderdale’s downtown. “Fort Lauderdale is going through a Renaissance and Flagler Village is the epicenter.” Bedzow says.
Project Executive Jose Urdaneta added that “it’s a niche and boutique project with a lot of unique architectural features and components.”
Rent starts at $3,500 a month for a 1,600-square-foot unit with a 400-square-foot two-car garage. Guillermo Restrepo, vice president of construction, described the rental units as featuring wood-like plank tile flooring, track lighting, built out walk-in closets, ceiling fans, expansive windows, quartz countertops, upgraded appliances and European-style cabinetry in the kitchens and bathrooms.
“The location is also privileged,” Bedzow adds. “It’s the downtown entertainment center of the Fort Lauderdale area. It’s in the heart of all the major leisure and entertainment venues, restaurants and nightlife and only a few short blocks from the new high-speed train linking downtown Fort Lauderdale with downtown Miami and downtown West Palm Beach.”
Fort Lauderdale, Fla.-based Miller Construction worked with Ceiba during the preconstruction phase of ID Flagler. “Miller Construction was an integral part of the project and our partner in identifying what we wanted to do with the project and the design,” Restrepo says. “They are a very good construction partner and we look forward to working on many more projects with them.”
For the past three years, Ceiba’s diverse portfolio has moved away from the luxury condo market – focusing on luxury townhome rental communities and multifamily mixed-use apartment buildings.
Ceiba has roughly $200 million of property either under construction or in some phase of development in cities throughout greater Broward County – including ID Flagler Village. “We go for locations that have strong employment drivers, strong growth components but that are currently underserved from a quality new construction residential perspective,” Bedzow says. “We also have an inventory of several other properties that are in our development pipeline that we are preparing to bring online shortly.”
Family owned and operated, Ceiba was formed in 2012 but its principals have more than three decades of experience in the industry. The firm was founded to continue pioneering developments in south Florida that bring vibrancy to their neighborhoods and enhances the community.
Ceiba promotes itself as a premier development firm that is true to its principles of integrity and innovation, with a collective portfolio that spans trend-setting luxury developments, cutting-edge mixed-use spaces, as well as strategically located office and industrial properties.
“We are primarily entrepreneurs within the real estate space,” Bedzow says. “We have experience owning, developing and operating a diverse portfolio.”