Atlanta-based developer Portman has received approval from the Pompano Beach Planning & Zoning Board for a new mixed-use apartment project at 2400 East Atlantic Boulevard. The eight-story development will feature 397 apartments and 10,600 square feet of retail and restaurant space. Planned amenities include a pool and fitness center.
Portman first introduced the proposal in May. Construction is expected to start this fall, with completion targeted for late 2028. The project will replace an existing office building and parking lot on the 3.2-acre site.
The company is led by Chairman and CEO Ambrish Baisiwala and President John C. Portman IV, grandson of founder John C. Portman Jr., who was recognized for major projects such as Atlanta’s Peachtree Center, San Francisco’s Embarcadero Center, and Detroit’s Renaissance Center.
Portman has traditionally focused on office and hospitality developments but has been expanding into multifamily, industrial, and student housing sectors while updating its leadership team to oversee a $5 billion pipeline.
Pompano Beach has seen increased interest from developers recently, with hundreds of condominium units planned across several new projects. In June, Related Group—led by the Pérez family—and Merrimac Ventures secured a $160 million construction loan for their Waldorf Astoria Residences Pompano Beach project. The Pérezes have also partnered with BH Group on the W Pompano Beach Hotel & Residences.
Additional projects include Ritz-Carlton Residences, Pompano Beach by Fortune International Group and Oak Capital; these partners obtained a $259 million construction loan from Bank OZK in 2023 (https://therealdeal.com/miami/2023/05/11/bank-ozk-lends-259m-for-pompano-beach-ritz-carlton-condo-project/).
“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.”
