From David Volz
The City of Pompano Beach and its Community Redevelopment Agency (CRA) are thrilled to announce the finalization of the Downtown Master Developer Agreement with RocaPoint Partners, LLC. This pivotal agreement, marking a significant milestone in our City’s development, will be put to a vote during a special joint meeting on Thursday, June 20, at 6:00 p.m. at the Commission Chambers, 100 W. Atlantic Boulevard.
After a dedicated journey of 25 years, involving numerous meetings, presentations, and community forums, this momentous day will officially kickstart a thrilling new phase in the development of a Downtown destination.
“This is a momentous time for our City,” said Mayor Rex Hardin. After years of meticulous planning and community input, we are excited to embark on a new phase of prosperity for our City. As this development unfolds over the next decade, our Downtown will evolve into an economic powerhouse, fostering job creation, and lightening the tax burden of our residents.”
While many cities across the nation struggle to revitalize last-century designs, Pompano Beach will create a new and exciting downtown destination that will be built for future generations to enjoy and experience. The City and its CRA developed this vision with cutting-edge objectives and laid the groundwork by assembling parcels of land approximately 75 acres along the I-95 corridor over the past 30 years. To find the best team to lead the project, the City and CRA hired globally acclaimed real estate firm CBRE as the agent to broadly market the opportunity and analyze responses for a master real estate developer. After careful consideration, RocaPoint Partners was selected, according to Sandra King, spokesperson for Pompano Beach.
This blend of past performance and their visionary outlook for Pompano Beach made Roca Point the best selection for the Master Developer role. In previous presentations, the firm detailed the economic impact of their plan, which includes an approximately $2 billion investment in our Downtown. Key projects include multifamily housing, office space, a commercial/retail mix, a hotel, open space, a new civic center, a new City Hall, and parking, according to King.
