REAL ESTATE

Pompano Beach looks for master developer of innovation district

BY Al Urbanski

The city of Pompano Beach, Fla., and the Pompano Beach Community Redevelopment Agency have issued a call to brokers to join their search for a master developer of the city’s Downtown and Innovation District.

A 2% commission is being offered for what a press release calls a “transformative project, one of the last of its kind in the South Florida market.”

Over the past 20 years, Pompano Beach’s Northwest CRA has assembled more than30 acres of land within the almost 70-acre Innovation District. Most developable parcels are generally located along the busy I-95 corridor and Atlantic Boulevard.

A master plan devised from a previous market analysis calls for 750,000 sq. ft. of office and flex space, 200,000 sq. ft. of retail and restaurant space, 1,500 residential units, a 420-room hotel, and a new City Hall and government offices.

“By reaching out to the national real estate broker community, we hope to expand our list of potential applicants,” said Pompano CRA director Nguyen Tran. “We are seeking developers who understand our goals for the area, offer experience in prior projects of this scope and have the financial capability to undertake this project.”

One distinctive featured envisioned for the project by the CRA are linear waterways like those found in Amsterdam that could serve as a drainage system as well as a distinctive visual trademark.

Letters of Interest must be submitted electronically through the City’s eBid System on or before July 10, 2019. The complete solicitation document, which can be downloaded here.

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