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"Alta Developers Launches Sales for Gaia Residences in Hollywood, Florida Alta Developers Launches Sales for Gaia Residences in Hollywood, Florida"
Key Points
- 238 units planned at Gaia Residences, a pivot from an earlier 466-unit concept
- Prices range from $400K to $1M — aiming at local and first-time buyers
- Construction to start in 2026, with 72K SF of amenities including co-working and spa spaces
Alta’s Strategic Shift in Hollywood
Alta Developers, led by Raimundo Onetto, has officially launched sales for its new 238-unit condo project in Hollywood, FL — a major pivot from its previously proposed 466-unit wellness-focused complex. The new project, Gaia Residences, will rise 18 stories at 401 N Federal Highway and targets a more attainable price point for local and first-time buyers priced out of South Florida’s luxury market.
A Scaled-Back Vision with Strategic Pricing
What changed?
The original plan was for two towers and 466 units with a wellness theme. The updated plan cuts the unit count nearly in half: 238 condos in an 18-story tower.
Why the pivot?
Onetto cites new condo regulations that are displacing residents, many of whom can’t afford $1,500+/SF new developments. Gaia aims to fill that gap with prices starting at $400,000 and an average of $850/SF — below many competing projects in South Florida.
Inside Gaia Residences: Amenities & Design
Despite scaling back the unit count, Alta is holding firm on quality. The project offers 72,000 square feet of shared amenities, including a resort-style pool and spa, fitness center, and co-working spaces.
The design teams include CFE Architects and ID & Design International. Shared spaces and optional unit packages will be furnished by RH (Restoration Hardware). Sales are being led by Fortune International Group, and construction is expected to begin in 2026.
Hollywood’s Condo Moment: Rising Competition
Alta is not alone in eyeing Hollywood as South Florida’s next hot condo spot. Other major developments include:
- Icon Beach Residences: A 350-unit, 37-story tower by Related Group and BH Group, set across from the Diplomat Beach Resort.
- Eturna: A 36-unit boutique condo on Hollywood Beach with completion expected this year.
Hollywood offers a unique value proposition — positioned between Miami and Fort Lauderdale, yet still relatively underdeveloped. Investors are betting that demand will flow from both renters and buyers being priced out of surrounding markets.
The Sweet Spot
By shifting from wellness luxury to attainable new construction, Alta Developers is making a smart bet on unmet demand in South Florida’s condo market. The $400K-$1M price band hits a sweet spot, especially with displaced condo owners looking for options below the ultra-luxury threshold.
If absorption is strong, expect more developers to follow this middle-market model — especially in second-tier hotspots like Hollywood.
