A quiet coastal town in northeast Broward County, Hillsboro Beach is a one-road barrier island, a remote natural obstacle to storm surge as well as the cacophony of crowded urban living. Now, two real estate development companies headquartered in Miami-Dade County – Coconut Grove-based Related Group and Sunny Isles Beach-based Dezer Development – aim to pair the town’s vibe as an oceanfront haven with a brand-name residential resort lifestyle. And as pre-construction sales proceed for their planned condominium, Rosewood Residences Hillsboro Beach, the developers are attracting some affluent current residents of the linear town with one road, a short stretch of State Road A1A known officially as Hillsboro Mile, and unofficially as “Millionaire’s Mile” because of its pricy waterfront homes. “Hillsboro Beach is very much a local market. We have several buyers interested in downsizing from their estates on ‘Millionaire’s Mile,’ as well as families from Fort Lauderdale, Boca Raton and Palm Beach looking for a secluded waterfront retreat,” Eric Fordin, senior vice president of development at Related Group, said October 15 in an email exchange.
The 11.8-acre development site at 1174-1185 Hillsboro Mile is a two-parcel property touching both the Atlantic Ocean and the Intracoastal Waterway. The 5.4-acre west parcel of the site abuts the Intracoastal. The 6.4-acre east parcel along the ocean encompasses a bushy 2.8-acre dune that Broward County designated as a conservation area in 1992. Sunny Isles Beach-based Dezer Development acquired the Rosewood development site for $28.5 million in a 2016 land auction. A bankruptcy judge ordered the auction to repay debts of companies affiliated with home builder John B. Kennelly. Dezer Development, led by President Gil Dezer, subsequently sold the land to Miami-based Related Group for $30 million and began working with Related to develop the property.
Dezer Development and Related Group, led by its founder, Chairman and CEO Jorge M. Pèrez, are planning Rosewood Residences Hillsboro Beach as a 10-story, 92-unit development. By October 2024, pre-construction buyers had made deposits on “over 40 percent of these residences,” Fordin, the Related executive, said in a mid-October email. Asking prices for the 70 oceanfront condos and 22 villas along the Intracoastal Waterway started at $5.5 million. The developers required a 10 percent deposit at contract signing, Fordin explained, plus an additional 10 percent at 60 days, another 10 percent at groundbreaking and a final 10 percent at the building’s topping off.
The Rosewood villas and condos are as big as their asking prices. The residences range from 2,800 to 6,400 square feet. Buyers seeking even more space can opt to combine units. With so much living space, Rosewood is designed to “marry the privacy and convenience of single-family homes with the exceptional amenities of a world-class resort,” Fordin said, and to appeal “to those who prefer a refined, intimate atmosphere over the high-energy bustle of nearby areas.” International luxury hotel operator Rosewood Hotels & Resorts will manage the resort side of the Rosewood development. Its amenity stack will feature a wellness center with a private spa and salon, together with two fitness centers, a yoga studio and sauna. Planned outdoor attractions include an oceanfront swimming pool and spa area with sunbeds and cabanas, plus access to a full-service residents-only beach. Fourteen private boat slips, along with tennis courts and an on-site racquet pro shop, will also be part of the amenity mix. The Rosewood branded development in Hillsboro Beach also will offer luxury guest suites to visiting friends and family.
Asked if a conforming three-story oceanfront condo development on their Hillsboro Beach site would be profitable enough to develop, Fordin said by email that the planned 10-story Rosewood project is “what we believe to be the best low-density, ultra-luxury development program for the property.” The empty, 11.8-acre property at 1174-1185 Hillsboro Mile has seemed destined for some kind of development for some time.
