A Portman Residential-controlled entity has closed on two land parcels at 2400 East Atlantic Boulevard in Pompano Beach, clearing the way for an eight-story, 381-unit mixed-use project on the site of a former bank branch and a vacant office building. The purchase closed October 22, according to Broward County records.
As reported by TAPinto Pompano Beach, the deal bundled sales from two different sellers. The outlet reports the land sales totaled $8.9 million overall, while elsewhere in its reporting it separately states that Wells Fargo Bank, N.A. sold the main bank parcel for $9.37 million and Sharon S. Gordon sold adjacent land lots for $3.35 million — figures that do not match the stated $8.9 million total. The 3.2-acre site, according to Multifamily & Affordable Housing Business, currently features a vacant vintage office building and a former bank.
What Portman Plans to Build
Portman Residential has indicated groundbreaking in fall 2026, with the project's design phase currently underway and construction anticipated to begin that same season, per the developer's own project page on Portman Holdings's site. Completion is slated for late 2028, the company has indicated. The plan is meant to convert the site from a small office property into a multifamily development, according to the same account.
The project layout includes regular apartments alongside rowhouses and townhomes opening directly onto the street, with sidewalks and bike paths designed for accessibility via Atlantic Boulevard. Building plans call for a rooftop pool, an outdoor deck, an inner courtyard, a gym, and a six-story parking garage. The development site sits one block from the proposed McNab House & Botanical Gardens in Pompano Beach.
Retail Space and Approval Timeline Still Murky
Ground-floor space for shops and outdoor dining is part of the site plan, though the exact square footage is disputed across sources. Citybiz reported the development will include 10,591 square feet of retail space with al fresco seating, while Florida YIMBY separately described a proposal with 12,000 square feet of ground-floor retail facing East Atlantic Boulevard — the two figures don't line up, and the dossier evidence doesn't resolve which is current.
The approval timeline carries a similar wrinkle. Pompano Beach's Planning & Zoning Board approved Portman's development of the site in August 2025, and a city planning agenda confirms that a major administrative adjustment tied to Portman Residential LLC, identified as P&Z# 25-16500002, was listed for the site that same month — though the agenda itself doesn't specify whether the request was ultimately approved, denied, or deferred. Separately, Portman's own project page states that entitlements for the project were finalized in September 2025, while citybiz has reported the project received planning commission approval in August 2025. These are distinct milestones, with planning approval preceding entitlement finalization.
A Senior VP's Pitch for the Neighborhood
Marc Brambrut, senior vice president at Portman, made a statement in a press release issued at the time of the 2025 development approval. Brambrut said Portman will deliver a residential and retail experience blending with the surrounding area and offering amenities for residents and visitors, according to citybiz. That outlet also notes Portman's residential team has developed more than 20,000 residential units across its portfolio.
The Florida YIMBY account adds that the proposal includes 506 parking spaces, averaging to roughly 1.27 spots per apartment unit. Portman's own project description frames the surrounding area as in flux, too: the downtown is undergoing a transformation featuring new cultural venues, public spaces, and waterfront enhancements, per the company's project page.
Part of a Broader Pompano Beach Building Wave
The acquisition lands amid what The Real Deal has called a building boom in Pompano Beach, with numerous projects reshaping the city's landscape. That outlet has also reported that developers are continuing to snap up multifamily sites in the city despite higher costs and concerns about overbuilding. Other proposals circulating in the area, according to the same publication, include a 163,000-square-foot Costco Wholesale project and a separate 132-unit multifamily building.
