Lake Ridge continues its powerful regeneration.
Text Mark Williams
Wedged in between Victoria Park and Poinsettia Heights, Lake Ridge is a tiny, 175-acre neighborhood that has been on a determined, upward swing for 20 years. It runs just 3 blocks north to south between Northeast 13th Street and East Sunrise Boulevard from the Florida East Coast Railway lines on its west to Federal Highway on its east.
To be sure, Lake Ridge was a post-war baby, with much of its rapid build-out in the 1940s and 50s fueled by financing back-stopped by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA). Unlike nearby Coral Ridge, Lake Ridge was never imagined to be a neighborhood of fur coats and country club memberships; it was meant to be down-to-earth and modest. Developers like the Gill Construction Company saw a need for what amounted to starter homes for returning vets and their families and began building in earnest just to the north of Lake Ridge to fill this need. Their development spilled over into Lake Ridge as the platting and utilities had long since been completed. And every once in awhile, you can find a single-family house designed by the well-known architect, William Vaughn.
Lake Ridge has an enviable, east Fort Lauderdale location close to shopping on North Federal Highway, Gateway Shops and The Galleria. Residents are never more than a few blocks from countless shopping and dining destinations, not to mention Bennett Elementary and Sunrise Middle School. And although there are no public parks within the neighborhood’s boundaries, residents love their proximity to Holiday Park, which offers innumerable facilities and activities for every member of the family. In addition, the beach is just 1.5 miles due east. With properties elsewhere in the city being snapped up right and left, the value of its location appears to be turning up the heat on little Lake Ridge… yet again
Rendering of Galleria Villages, phase 1, nearing completion on the eastern edge of Lake Ridge.
Although it saw a downturn in the decades before the millennium, Lake Ridge had changed course by the time 2020 rolled around; and there’s been no turning back since due in large part to low price points compared to its surrounding neighborhoods. Real estate investments in Lake Ridge circa the turn of the century have generally turned out to be savvy bets. Single-family homes that sold below $150,000 in 2000 are worth 2 1/2 times as much today. But the typical 2-bed, 1-bath Lake Ridge single family home from those days is becoming harder and harder to find as townhouse development grows here. One of the newest developments is the first phase of Galleria Villages on NE 18th Avenue. This collection of twelve 2-story townhouses is nearly complete. And although none of these 3-bedroom, 3.5 bath residences has yet to close, the range of asking prices was from $679,000 to $750,000.
In the last 6 months, the median price for a single-family or townhome was $408,500, and ran between $165 and $471 per square foot depending on size, location, and level of finish. At press time there were 13 single-family or townhomes on the market that were not already under contract, the least expensive with an asking price of $398,000 ($199 per square foot) for a 1,990-square foot, 3-bedroom, 3 1/2-bath townhome at Villa Medici. At the other end of the market was a 2200-square foot, renovated 3-bedroom, 2-bath pool home with a 600-square foot, 1-bedroom, 1-bathroom guest cottage offered at $899,000 ($350 per square foot).
On The Market in Lake Ridge
1251 NE 18th Street
3 bed, 3+ bath,
2,017 Square Feet
Compass Florida LLC
1111 NE 18th Avenue
3 bed, 2 bath plus
1 bed, 1 bath casita, pool
2,800 Square Feet
1215 NE 13th Street
2 bed, 1 bath units
1,305+- Square Feet
Earthrise Realty Inc.