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Private Project Updates
Of the 54-acre Town Center site, 14-acres house the majority of the public uses (City Hall; Community Library-Education Center; Cultural Center - ArtsPark) and the remaining 40-acres are generally slated for private development.
On February 16, 2005, the City Commission approved the sale of the 40-acre private parcel to the joint partnership of the Rockefeller Group Development Corp/Kimco Realty (Rock-Kim Miramar). The private development was programmed to contain approximately 150,000 square feet of retail and fitness, 85,000 square feet of office and 504 residential units (134 townhouses, 370 garden apartments). These components are essential to fulfill the mixed-use Town Center vision.
In 2012, Rock-Kim sold the land slated for residential to Mill Creek Residential Trust, LLC. Construction of the residential units was completed by early 2015. In late 2015, Mill Creek Residential sold the Mosaic at Miramar Town Center Apartments (formerly known as Modera) to a New York firm for $120 million.
To date, construction has been completed on five of the six private development blocks at Town Center. There are currently 504 built residential units, 110,000 square feet of built retail space and 45,000 square feet of built office space, which represents over 1,500 residents residing on site and over 350 employees. Additional retail, office and/or residential is planned for the final remaining 3.8-acre undeveloped block.
In late 2017, IMC Equity Group purchased Rock-Kim’s remaining assets within Miramar Town Center, namely Block 4A (commercial only) and Block 4B. The City repurchased Block 2 and intends to seek a qualified developer in 2018 to finalize development.
After undergoing a market assessment and request for proposals process, the City approved a Purchase and Sale Agreement with Related Development, LLC in June 2019 for the development of 27,500 to 32,500 square feet of ground floor retail and up to 400 residential apartment units on the 3.8-acre Block 2 property. Construction is expected to commence in mid-2020.
To date, construction has been completed on five of the six private development blocks at Town Center. There are currently 504 built residential units, 110,000 square feet of built retail space and 45,000 square feet of built office space, which represents over 1,500 residents residing on site and over 350 employees. Additional retail, office and/or residential is planned for the final remaining 3.8-acre undeveloped block.
In late 2017, IMC Equity Group purchased Rock-Kim’s remaining assets within Miramar Town Center, namely Block 4A (commercial only) and Block 4B. The City repurchased Block 2 and intends to seek a qualified developer in 2018 to finalize development.
After undergoing a market assessment and request for proposals process, the City approved a Purchase and Sale Agreement with Related Development, LLC in June 2019 for the development of 27,500 to 32,500 square feet of ground floor retail and up to 400 residential apartment units on the 3.8-acre Block 2 property. Construction is expected to commence in mid-2020.