A Texas-based real estate firm is moving forward with plans for a boutique condominium project in Fort Lauderdale’s Las Olas neighborhood. Claremont Property Company, headquartered in Bellaire, Texas and led by Keeley Megarity, will develop an eight-unit, five-story building at 50 Isle of Venice Drive. According to a press release, the units will be priced between $3 million and $3.5 million.
Property records indicate that Megarity acquired the 0.3-acre waterfront parcel in October for $7.5 million from 50 Isle of Venice Partners LLC, which is affiliated with Construction Development Associates (CDA). The CDA affiliate had previously purchased the land in March for $4.5 million. Logan Newell and Dino Flora of Native Realty represented Megarity in the transaction.
The planned development will feature condos ranging from 3,050 to 3,200 square feet each. The building will also offer seven boat slips measuring 38 feet each and a pool, according to a spokesperson for the developer. Construction is expected to begin soon and is projected to take approximately 18 months.
Fort Lauderdale has seen significant growth in condominium development recently, with over 3,900 units proposed across Broward County—many concentrated along the city’s waterfront and downtown areas. Other notable projects include Whitfield Las Olas by Steve Hudson and Charlie Ladd, which will have both hotel rooms and condominiums; OceanLand Investments’ Sixth & Rio condos; and the St. Regis Resort and Residences at Bahia Mar Fort Lauderdale—a joint venture between Related Group, Tate Capital, and Rok Acquisitions that will feature two towers with a total of 160 condo units alongside a luxury hotel.
This surge in new developments reflects a broader trend across South Florida as developers view Fort Lauderdale as a more affordable and relaxed alternative compared to Miami or Palm Beach.
Las Olas has traditionally been recognized for its luxury single-family homes rather than condominiums. In 2024, financier Donald Sussman sold his nearby mansion for $70 million—a record-setting price for the area.
