Fort Lauderdale's iconic Galleria Mall is set for a major transformation after being acquired for $73 million by a joint venture between GFO Investments and the InSite Group. The sellers, Keystone-Florida Property Holding Group, had owned the site since 1993. Now under new ownership, the Fort Lauderdale Galleria Mall redevelopment, led by Miami developer Russell Galbut, is part of a larger shift toward vertical, mixed-use neighborhoods in South Florida.
This ambitious plan reflects the city's growing focus on walkable, high-density living, bringing homes, retail, and hospitality together in one of Fort Lauderdale’s most central locations.
Overview of the Fort Lauderdale Galleria Mall Redevelopment
Fort Lauderdale Galleria Mall Redevelopment is one of the largest and most ambitious projects proposed under Florida's Live Local Act, which aims to address housing affordability and streamline development approvals. This multi-billion-dollar plan includes more than 3,100 residential units, a 170-room hotel, and over 900,000 square feet of commercial and retail space.
Located in the heart of Fort Lauderdale and surrounded by high-value properties, including waterfront homes priced as high as $39 million, the Galleria site sits at the center of one of the city's most desirable areas. The location adds strong potential for long-term real estate appreciation, especially as the area shifts toward a more urban, walkable environment.
Key Details of Fort Lauderdale Galleria Mall Redevelopment
Russell Galbut, co-founder of Crescent Heights, is one of the most influential landowners in Florida. His firm has developed more than 35,000 residential units across the U.S., with a strong focus on Florida. Galbut's expertise in building mixed-use communities positions this project for success, leveraging his experience from similar projects in Miami Beach and other urban centers.
Project Breakdown: Residential, Commercial & Hotel Plans
According to documents reviewed by the South Florida Sun Sentinel, initial plans were submitted in August, but several components will need updates based on feedback from city officials. The redevelopment is split into two main zones:
Galleria East:
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5 towers, each 30 stories high
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1,981 residential units (1,181 market-rate, 800 workforce)
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675,968 sq ft of retained mall commercial space
Galleria West:
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4 towers, each 30 stories high
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1,161 residential units (690 market-rate, 473 workforce)
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Hotel with 170 rooms
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Retail, office, and additional commercial space
Why Does This Project Matters for Fort Lauderdale?
Increasing Demand for Workforce Housing
Fort Lauderdale, like much of South Florida, is facing a housing affordability crisis. By including over 1,200 workforce housing units, Fort Lauderdale Galleria Mall Redevelopment addresses a critical local need. These units are intended to serve those who earn too much for traditional affordable housing but still struggle to afford market-rate rentals.
Resources like the Florida Housing Coalition have long advocated for this type of housing to maintain diverse, economically stable communities.
Transforming Retail Spaces into Vertical Neighborhoods
As shopping habits shift and malls struggle to stay relevant, developers are reimagining these spaces into vibrant neighborhoods. The Fort Lauderdale Galleria Mall redevelopment follows this trend, turning an aging retail hub into a place where people can live, work, dine, and shop without leaving their block.
How Fort Lauderdale Is Growing with Urban Village Projects?
Fort Lauderdale Galleria Mall Redevelopment project is part of a larger movement within Fort Lauderdale to create self-contained, walkable communities. Here are three other notable examples:
Pier Sixty-Six: A Luxury Waterfront Landmark
Completed in recent years, Pier Sixty-Six is a high-end mixed-use development featuring luxury condos, a resort hotel, fine dining, office spaces, and a world-class 164-slip marina. It stands as a model for waterfront redevelopment in the region.
Bahia Mar: A $2 Billion Resort-Style Destination
The Bahia Mar redevelopment led by The Related Group and Jimmy Tate includes:
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A St. Regis hotel
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Four luxury condo towers
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Pricing from $3 million to $25 million
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A marina and waterfront park upgrades
FAT Village: Fort Lauderdale’s Creative Corridor
FAT Village (Flagler Arts and Technology) is undergoing a $500 million transformation into a vibrant, arts-driven community. It will feature:
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600 apartments
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Creative retail
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Office towers
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Completion expected by mid-2026
Concerns From the Community and City Officials
While the Fort Lauderdale Galleria Mall redevelopment promises significant benefits, it has also sparked pushback from city officials and nearby residents. Mayor Dean Trantalis and others have voiced concerns about the project’s size and impact on local traffic. With nine 30-story towers in the proposal and limited road access in the area, critics worry that the added density could overwhelm existing infrastructure. Another point of contention is the absence of new office space, which some believe is essential for creating a more balanced, sustainable neighborhood.
This isn’t the first time the Galleria Mall has been the focus of major redevelopment efforts, and previous attempts failed largely due to similar concerns. In 2015, a 45-story residential tower was scrapped after backlash over height and traffic. A later 2023 proposal, which included housing, restaurants, and a boutique hotel, was also rejected over congestion and scale. While the current plan benefits from the Live Local Act, which may allow it to bypass some zoning obstacles, community engagement and public trust will still play a critical role in determining whether this version moves forward.
FAQs About Fort Lauderdale Galleria Mall Redevelopment
What will happen to the Galleria Mall?
Most of the existing mall will remain but be integrated into a mixed-use neighborhood with new towers, housing, and commercial space.
How many units are in the redevelopment plan?
A total of 3,142 residential units are proposed, with a mix of market-rate and workforce housing.
Who is Russell Galbut?
Galbut is a prominent Miami developer and co-founder of Crescent Heights, a national real estate development firm.
When will the Galleria Mall redevelopment be completed?
There is no official timeline yet, but the developer plans to use the Live Local Act to fast-track approvals. Construction could begin as soon as approvals are granted.
Preparing for Major Growth in Fort Lauderdale
Fort Lauderdale Galleria Mall Redevelopment is a sign of bigger changes ahead in Fort Lauderdale’s real estate scene. Whether you’re an investor, buyer, or simply curious about housing opportunities in this area, you’ll want expert guidance.
Contact The Mastropieri Group Realtors® at (561) 544-7000 to learn more about this and other upcoming developments in South Florida. With deep local knowledge and proven success in the Fort Lauderdale market, we’re here to help you make smart, informed real estate decisions.
