Sales are being launched this week for a luxury condo project at the former Howard Johnson hotel on Fort Lauderdale Beach. The old hotel which was severely damaged during Hurricane Wilma in 2005 is being razed later this month.
The project, Paramount Fort Lauderdale Beach, plans for 95 condominiums starting at around $1 million. Construction of the building is scheduled to begin later this year, with a completion projected in the winter of 2016.
The developers are requiring buyers to make down payments in three installments. !0 percent to reserve the unit, 10 percent to go under contract, and another 10 percent at ground-breaking.