The City of Pompano Beach and Pompano Beach CRA have issued a Request for Letters of Interest (RLI) for a Master Developer for the City's Downtown and Innovation District. The South Florida municipality has undergone a tremendous transformation during the past few years, and the creation of a dense urban downtown is the next redevelopment goal.
The purpose of the RLI is to identify qualified master real estate developers to acquire and develop real property assets owned by the City and the CRA in Downtown Pompano Beach. Those selected to proceed to a proposal stage, will provide their best and final proposal for the master development of the Parcels in Downtown Pompano Beach.
"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," said Nguyen Tran, CRA Director. "Over the past 20 years, the Northwest CRA has assembled over 30 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, making this one of the last prime development opportunities of its kind in South Florida."
Based on a previous market analysis, the following can guide the master plan for a mix of desirable uses:
Office/ Flex space 750,000 sq. ft.
Retail 165,000 sq. ft.
Residential 1,500 units
Hotel/ Hospitality up to 420 rooms (multiple building)
New City Hall/ Government Offices P3 opportunity
Restaurant 35,000 sq. ft.
Education open opportunities
In addition, as part of the marketing and branding strategy for downtown, the CRA envisions a creative and unique drainage system, possibly using linear waterway systems that create a visible and desirable asset for development parcels, much like the waterways in Amsterdam in the Netherlands, and San Antonio, Texas (from a visual perspective). A stormwater conceptual master license has already received county approval and a drainage district will need to be formed. Design and construction of a creative and aesthetically pleasing drainage option can occur simultaneously with the vertical development.
Letters of Interest must be submitted electronically through the City's eBid System on or before July 10, 2019. Developers must be registered on the City's eBid System in order to view the solicitation documents and respond to this solicitation. The complete solicitation document can be downloaded for free from the eBid System as a pdf at: https://pompanobeachfl.ionwave.net/CurrentSourcingEvents.aspx.
Media Contact: Kay Renz Kay@KRPRmediagroup.com 561-654-8151