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Las Olas 0DWWHUV

Vision for Las Olas:

A Balancing Act

By Jennifer Nayak

espite tremendous growth, Las
Olas is in transition. To address
Dkey issues ranging from retail
space to long-term goals, an open
community luncheon on September fifth,
2018 offered some answers.
Hosted by real estate professionals
Howard Elfman, Broker, Distinctive
Homes Realty and Michael Faerber,
Realtor at D’Angelo Realty Group, and
co-sponsored by the Tower Club, the
focus was a panel discussion with key
property owners on Las Olas.

Panelists included Michael
Weymouth President of The Las Olas
Company; Steve Hudson President of
Property Owners of Las Olas 10-0
& CEO of Hudson Capital Group Inc. about $60-$80 a foot. Some of the buildings need to be
and Charles Ladd: Vice President of Property Owners of Las retrofitted to adapt to retail’s changing face and needs. For
Olas 10-0 & Barron Real Estate Inc. example, when they brought in Louie Bossi’s in 2015, they
The trio collectively own and manage more than 80% of the spent $6.5m to renovate and design their restaurant. It’s
current properties along Las Olas Blvd. It’s their joint mission now their best performing location.
to attract the best tenants that support the community’s present Changes to the streetscape from lane configurations to
needs, limitations and potential. sidewalks to landscaping have been discussed. The current

A primary concern addressed was vacant space. Mike commissioners created a comprehensive citywide plan that
Weymouth explained that two years ago the boulevard was includes Las Olas Boulevard BOE a task force to address
at 100 percent occupancy, but retail trends have shifted to these issues UIBU SFDFOUMZ IFME B QSPEVDUJWF GJSTU NFFUJOH.
online shopping. The Las Olas Company’s plan is to attract Steve Hudson added that widening the sidewalks and
the right kind of retailers, restaurants and businesses, be making the boule-vard more pedestrian friendly is extremely
selective with tenants and protect the local history. important. Protecting the New River and historic residential

“In 1995, Las Olas did not have the benefit of a thriving areas is critical as well. Maintaining its charm, while
downtown business community, luxury high-rise condos and updating the infrastructure, will attract the right investors.
other cultural attractions to support it like we do today,” When asked what he sees as the future of Las Olas, Hudson
TUBUFE Charlie Ladd. said, “I see a well-curated Las Olas and downtown that

The Boulevard needs businesses who can afford to be reflects our Live + Work + Play lifestyle. No other city in the
there and stay. Ladd noted that the average per-square-foot world has the same combination of history, business, culture
rent on Atlantic Ave. in Delray Beach is $70 a foot on and residential - all surrounded by the natural beauty of the
Lincoln Road on South Beach it’s $300 a foot. Las Olas is New River. We have to protect and preserve that.”

28 LAS OLAS BOULEVARD & ISLES