In 1953, Coral Ridge Properties, Inc., founded by James S. Hunt and Stephen Calder (the race track developer) purchased a tract of land from Arthur T. Galt of Chicago. The area consisted of most of what is now Fort Lauderdale north from Sunrise Boulevard, between U.S. 1 and the Intracoastal Waterway north to Floranada Road plus the ocean frontage north of Oakland Park Boulevard, for $19,280,000. As sections were developed, the owners annexed them to the city. The oceanfront land was platted into 22 lots 200 feet wide. The first annex to the city around 1955, was 8 lots at the south end of the “Mile”. They also donated 5.1 acres for Bayview Drive and George English Park and sold 1.84 acres to the school board in 1957 for $32,372.
The original building on the Galt Mile was The Beach Club located where part of the L’ Hermitage Condos now stand. This was a Cabana and Beach Club built to serve the new residents west of the Intracoastal Waterway. Its lower level bar and cafe called the “Lulubelle Room” was a popular spot for residents and visitors alike. It was made famous by Woody Woodbury .(or was Woody Woodbury made famous by the Lulubelle)? After a long run, the club closed in 1964.
The first oceanfront hotel was the deluxe Galt Ocean Mile Hotel built by Coral Ridge Properties. Again, a very popular facility for visitors and locals for dining and entertainment. It was the only hotel in Fort Lauderdale to offer a regular ballroom with a bar, bandstand and table seating. Some of the stars appearing were Sammy Kaye, The Count Basie Orchestra, Peggy Lee and the Tommy Dorsey Orchestra. The same developers later built the seven floor Enquirer Hotel on the land now occupied by South Point. Still later, a small Lauderdale Beach Rutger hotel occupied a spot midway up the beach.
Coral Ridge Property later built the Ocean Manor, the first hi rise hotel with beach frontage. Developer James Hunt and the later famous Johnny Carson occupied penthouse suites.
The first hi rise apartment was Edgewater Arms (about 1960). This was a cooperative since the Florida Condo Law was not passed by the legislature until 1963. (Similar enabling laws of condominiums existed in France in the 18OOs!)
The first freestanding restaurant in the area was located at the south end of "The Mile," an attractive Howard Johnson set amongst trees and flowers and wild parrots. It later became a Miami Sub and now is the Greek Island Restaurant.
Just prior to the Condo Act of 1963, Coral Ridge Properties developed a cooperative, Coral Ridge Towers. This was reported to be the first hi rise cooperative financed by FHA to have a swimming pool. Originally one-bedroom apartments sold for as little as $1,000 down with the assumption of a proportionate share of a 40-year mortgage. In 1964 the condo concept was fully understood and accepted on "The Mile." It developed quickly and the Galt Mile boom began, resulting in what we see today, a large residential community with many fine residential buildings. The Ocean Summit and the Fountainhead were the first two of the boom, followed by the Commodore in 1965.
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