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Trash Hauler, Pit Owner Betting 11-Acre Dirt Hole Will be Worth Millions as Development Site

POMPANO BEACH, FL-Locally based Star Services Group has an unconventional deal with Copans Lakeview Venture Partnership of Florida to fill Lakeview's burrow pit with its solid waste collections and then negotiate to become a 50-50 partner in the land that could be worth millions after it is prepared for the construction of a commercial development. Pompano Beach is 60 miles north of Downtown Miami.

By David R. Corder | Updated on February 15, 2001

POMPANO BEACH, FL-In an unconventional deal, locally-based Star Services Group, a trash hauler, is filling, for free, an 11-acre burrow pit owned by Copans Lakeview Venture Partnership of Florida. After the pit is filled, Star gets the right to negotiate with Lakeview for a 50-50 ownership stake in the dirt they currently assess at $300,000 per acre ($6.88 per sf) or about $3.3 million.

They feel the dirt hole could be worth at least 10 times that amount after it is leveled and prepared for a commercial development site. The land is currently zoned for industrial-warehouse development, according to the Broward County property appraiser’s office. Pompano Beach is 60 miles north of Downtown Miami.

“Part of our operation continuously creates land by using construction and debris as fill,” Patrick F. Marzano, Star Group president, says in a prepared statement. “As land becomes scarcer and development can’t move further into the Everglades, filling burrow pits becomes a lucrative business.”

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