Atlanta-based developer Portman has received approval to move forward with a mixed-use apartment project in Pompano Beach, reflecting the area’s ongoing development activity.
The Pompano Beach Planning & Zoning Board approved the eight-story building at 2400 East Atlantic Boulevard. The project will feature 397 apartments and 10,600 square feet of retail and restaurant space. Planned amenities include a pool and fitness center.
Portman initially proposed the development in May. Construction is scheduled to begin this fall, with completion expected in late 2028. The site currently holds an office building and parking lot.
Portman is led by Chairman and CEO Ambrish Baisiwala and President John C. Portman IV. Portman IV is the grandson of the firm’s founder, architect John C. Portman Jr., who was known for designing Peachtree Center in Atlanta, Embarcadero Center in San Francisco, and Renaissance Center in Detroit.
The company has traditionally focused on office and hospitality projects but is now expanding into multifamily, industrial, and student housing developments as it manages a $5 billion pipeline.
Pompano Beach has seen increased interest from developers recently, with several large-scale condo projects planned for the city. In June, Related Group and Merrimac Ventures secured a $160 million construction loan for their Waldorf Astoria Residences Pompano Beach project. The Pérez family also partnered with BH Group for the W Pompano Beach Hotel & Residences.
Other developments include Ritz-Carlton Residences by Fortune International Group and Oak Capital, which obtained a $259 million construction loan from Bank OZK last year.
“Portman first proposed the project in May. Construction is set to begin this fall, and Portman expects to complete construction in late 2028, the release shows.”
“Portman is helmed by Chairman and CEO Ambrish Baisiwala and President John C. Portman IV. Portman IV is the grandson of the firm’s late founder and famed architect, John C. Portman Jr., who died in 2017. He is best known for designing and building the Peachtree Center in Atlanta, the Embarcadero Center in San Francisco and the Renaissance Center in Detroit, according to his New York Times obituary.”
“The development firm, historically focused on office and hospitality projects, has been expanding its portfolio to include multifamily, industrial and student housing projects. It has also been revamping its leadership to manage its $5 billion pipeline.”
