R
elated Group and Dezer Development received a boost for their Rosewood Residences luxury condo project in Hillsboro Beach with two major developments this week. The developers secured $307 million in construction financing from an affiliate of Apollo Global Management, which can be increased to $307 million, allowing the project to move forward under new coastal regulations.

    Construction is expected to start by the end of 2023 and will be completed in 2026. Over 50% of the units are already presold, with prices starting at $5.8 million for the 10-story development featuring 70 beachfront condos, 22 Intracoastal Waterway units, and 11 boat slips.

    The project's amenities include a wellness center, two gyms, sports courts, an oceanfront pool and spa, and beach access with food and beverage service. The town commission unanimously approved the project under the Coastal Dune Conservation District, which requires protection of the beach and dunes.

    Rosewood Residences is the second Rosewood-branded condo development in South Florida, following one in Miami Beach. Despite a challenging financing landscape, Related Group has successfully secured large construction loans for several projects this year, including Rivage Residences in Bal Harbour and St. Regis Residences in Miami.