Cornerstone Downtown Coral Springs coming. $168 Million Development in the works!
The 7.09-acre site currently awaits fresh and contemporary shops, apartments, restaurants, and, more tentatively, a hotel.
Predesco’s affiliate La Boca Partners has since filed plans for 209,279 square feet of offices on the Cornerstone site, which joins the original plan for 352 apartments, and approximately 85,000 square feet of restaurants and commercial space.
Predesco confirmed they are working with Mill Creek Residential to develop the apartments and, tentatively, a hotel on the Cornerstone property with 80 to 138 rooms.
The company said each of these residential and commercial buildings would be up to six stories tall.
Tom Prakas at Prakas & Company will be the one to broker restaurant leases, with adequate parking at Cornerstone also in the works.
Plans from the developer showed close to 1,500 parking spaces, with most of these located in two separate parking garages.
Cornerstone will occupy what is considered the heart of downtown Coral Springs, at the southwest intersection of University Drive and Sample Road.
Coral Springs could sell its former city hall site to Amera Properties to set up a mixed-use development in the city’s new downtown district.
Amera Downtown Development Co., led by veteran developer George Rahael is seeking to purchase 4 acres from the city and start the development of about 300 to 350 residential units, office and retail/restaurants.
Amera owns most of the neighboring shopping center at 9301 W. Sample Road, and it has the rest of the property under contract. When combined with the former city hall site, the developer would have about 12 acres to develop, on the north side of Sample Road, from University Drive to Coral Hills Drive.
The project would be called Village Square.
Under the proposed timeline in the letter of understanding, Amera would make it preliminary design submittal to the city in February 2021 and the plans could be approved by June. The developer agreed to purchase the former City Hall site for $4.6 million, which is in the middle of values determined by two recent appraisals. In addition, the city would contribute up to $600,000 in public benefits for the project, such as water and sewer infrastructure.
Coral Springs created a downtown zoning district to encourage mixed-use development.
The village council voted last month for a development agreement with an entity managed by Barrington Brothers LLC, a local multifamily developer with projects in the Upper Eastside and Little Havana. As part of the agreement, Barrington, led by Arthur and Ken Barrington, will be able to build an eight-story structure with an option for two bonus stories.Read more
Fort Lauderdale-based Merrimac is now joined by Miami-based high-end apartment developer The Estate Companies. The 340-unit project, at 4 North Federal Highway, has been renamed Soleste Cityline, as in Estate Cos.’ Soleste brand of multifamily developments throughout South Florida, according to a press release. The project was originally called Trion at Dania Beach.Read more
Eighteen developers have expressed interest in building Class A office space on three municipal parking lots in Miami Beach adjacent to Lincoln Road between Alton Road and Meridian Avenue. The City put out a Request for Letters of Interest (RFLI) in November to test the waters as it seeks ways to diversify .Read more
The construction permit was filed. According to the filing, a total of 41,164 square feet of general commercial will be built over two stories.Read more
After three years of discussion, the owners of the iconic International Inn at one of the gateways to Miami Beach have reached agreement with the City to voluntarily designate the property historic in exchange for the right to build an 80-ft tall addition to the hotel. City Commissioners approved the agreement after deferring it for six months due to concerns about the hotel’s operations.Read more