The unnamed project is planned to be developed on 115 acres between Northwest 108th Avenue and Palm Avenue, to the south of Pines Boulevard. Three 100,000-sf buildings would contain class A office space. Another 40,000 sf of office space would be interspersed with some proposed residential use located above it. The town homes would sell for about $250,000 to $300,000.
Such a development would come at no small cost to the city. The city of Pembroke Pines expects to spend approximately $46 million on the project. This amount includes $21 million to buy property and another $25 million for roads, sewer system and other items.
However, Marty Gayeski, deputy city manager for Pembroke Pines, tells GlobeSt.com that the project is a smart move for economic development.
"It's smart growth," Marty Gayeski, deputy city manager for Pembroke Pines, tells GlobeSt.com. "It's economic development. It's bringing in ad valorem" tax dollars. "The city can control the development that goes in there, rather than (getting) piece-by-piece" development," he adds.
The project still needs to go through the permitting process, and it will be at least a year before site work for the project begins, Gayeski says. If the project is successful, Pembroke Pines officials say it may increase the tax base there by up to $200 million, which could mean $2 million in additional revenue to the city per year.
Miramar, south of Pembroke Pines, also is working on developing a "downtown" project.
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