Posted on August 27, 2019 · Posted in Land, Multi-Family, Office, Retail

At its city commission meeting, Dania Beach will consider whether to enter into negotiations with two developers to build a large-scale apartment complex, offices and a hotel on city land that now houses City Hall, a library, fire station, parking garage and two historic buildings.

A rendering of the $634.2 million mixed-used project that developers are seeking approval from the Dania Beach City Commission. The project would be built on the site that now houses City Hall and the library.

The $634.2 million project calls for razing City Hall and building a smaller government building surrounded by high-rise apartment buildings, keeping the fire station and parking garage intact and moving the two historic buildings, one of which houses the Dania Beach Chamber of Commerce.

Under the proposed deal, the city would sell its 6.42 acres to Armada Hoffler Properties, a Virginia-based developer that specializes in public-private partnerships, and Capital Group, a Boca Raton-based developer. The City Hall building is valued at nearly $7 million, according to county records, and that represents only a portion of the total property value.

The city, in turn, would lease back a new building to be built by the developers. The new building would consist of four floors. The first floor would be a lobby. The second floor would be an 18,000-square-foot library, which would replace the stand-alone library now on the site. The top two floors would be City Hall.

Rendering of project

If the proposed deal is approved by the city, it would enter into a 20-year lease with the developers for the new building that would contain the City Hall and the Dania Beach-Paul DeMaio Library. While it’s not clear what the annual rent would be, the developers’ proposal calls for boosting the rent by 2.5 percent a year over 20 years.

The project at 100 W. Dania Beach Blvd. would consist of three phases: Phase 1, Phase 2, and Future Phases. Under Phase 1, four apartment buildings would be built: Each would contain nine levels for a total of 550 apartments. In addition, each of the buildings would have four levels of parking and one level of retail, creating 14-story buildings.

Phase 2 would include a more than 300,000-square-foot, 14-story apartment building with 400 units and parking. A future phase includes two 9-story office buildings and a 150-room hotel.

The fire station would stay on the site. But the two historic buildings, one of which houses the chamber of commerce, would be relocated. These changes are planned for Phase 1, whose construction would be completed by 2027.

The city views the project as a catalyst to rejuvenate its downtown, followed by Kimco Realty’s plans to build a 102-acre, mixed-use project Dania Pointe off Interstate 95, as previously reported by the South Florida Business Journal. Other projects, like that of Dev Motwani who bought 16,000 square feet of land for 286 apartments for lease at $5 million in 2017, soon followed.

“The success of Dania Pointe has allowed the city to leverage some of the investment interests to initiate new development projects,” said City of Dania Beach Community Redevelopment Agency Executive Director Rickelle Williams.

 

Source: Miami Herald

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