A joint venture led by Richard Waserstein’s Waterstone Capital, along with Uri Bubil and Roni Avraham, advanced plans on April 14 to redevelop the Pillars Hotel & Club in Fort Lauderdale into a 15-story condominium building.
The proposal was discussed at the city’s Development Review Committee meeting, where a representative for the developers confirmed that they are moving forward with their vision for the Pillars Club & Residences. The project would be located at 109 and 111 North Birch Road and would involve replacing the existing hotel—which currently has 18 rooms and seven condo units—with a new structure containing 43 residential units across fifteen stories.
Waterstone Capital is based in Bay Harbor Islands and led by Waserstein. Bubil leads Mazalub Real Estate in Miami, while Avraham heads SR Holdings Group. Property records show that Michael Landry’s Landry Trebbi Investment Corporation transferred ownership of one of the sites to the developers’ entity earlier this year, while another parcel remains owned by Georgia Bedford and Jan Behnke of Michigan.
Architect Kobi Karp has been selected to design the new condominium tower. The planned amenities include two penthouse units on the top floor, as well as a pool, spa facilities, and fitness centers. According to a representative for the development team, technical feedback from city officials will be addressed before seeking approval from the city commission.
Fort Lauderdale has recently attracted increased interest from condominium developers who view it as a more affordable alternative compared to Miami or West Palm Beach. There are currently over 3,900 condo units under development across Fort Lauderdale and nearby Pompano Beach. Other recent projects include Diana Ulis and MICL’s Ritz-Carlton Residences—an upcoming two-building complex—and Miki Naftali’s Viceroy Residences-Fort Lauderdale.
