Greater Fort Lauderdale / Broward County 2018 An in-depth review of the key issues facing Broward’s economy featuring the exclusive insights of prominent industry leaders
$159.00 ISBN 978-0-9988966-1-8
59999
9 780998 896618
Contents:
44 Market voices: Caroline Fleischer, Co-Managing Principal, Cresa South Florida; Ryan Nee, Vice President & Regional Manager, Marcus & Millichap Real Estate Investment Services of Florida; Michael Comras, President & CEO, The Comras Company of Florida
49 Construction, Infrastructure & Utilities:
7 Economy:
10 Progress on the sea: With yearround sunshine and a favorable business climate, Broward County is attractive for companies and people. Even recent outside influence, both political and natural, has not managed to destabilize the area
of National Sales, Hotwire Communications
29 Perspective: Peggy Nordeen, CEO,
31 Real Estate:
12 Interview: Beam Furr, Vice Mayor, Broward County
population, investor capital has
14 Interview: Bertha Henry, CEO, Broward County
Fort Lauderdale’s real estate market
35: Interview: Dennis Mele, Shareholder, Land Use & Zoning
22 Interview: Bob Swindell, President & CEO, Greater Fort Lauderdale Alliance
24 Technical knockout: “Work in the Cloud, Live in the Sun,” the Greater Fort Lauderdale Alliance advertises, as local companies, government institutions and schools help to make the IT sector an exciting prospect
26 Interview: David Henshall, Director, President & CEO, Citrix Systems
34 Right time, right place: Bolstered
found the right place in Greater
20 Interview: James Donnelly, Chairman, Broward Workshop
52 Viewpoint: Charles “Chip” Reid, CEO, Current Builders
54 Perspective: Gregory Stuart, Executive Director, Broward Metropolitan Planning Organization
55 Interview: Bob Moss, Chairman & CEO, Moss & Associates
56 Perspective: Henry Sniezek, Director, Broward County Department of Environmental Protection & Growth Management
58 Perspective: Thomas Miller, CEO, Miller Construction Company
59 Interview: Thomas Hutka, Director, Broward County Department of Public Works
60 Perspective: Michael Kaufman, President & CEO, Kaufman Lynn Construction
by a thriving economy and growing
25 Perspective: Rehan Khan, President & CEO, Acordis International
51 Interview: Scott MacLaren, President, Stiles
32 Real Estate in numbers
11 Interview: Rick Scott, Governor, State of Florida
Starmark International
50 Quality controlled: With demand for property increasing, the construction industry’s main challenges are shortages of workers and available land. The area’s utilities companies are effective and well run, adding to a robust infrastructure
Executive Vice President
8 Economy in numbers
27 Perspective: Daniel O’Connell,
Chair, GreenspoonMarder 36 Interview: Joseph Kavana, Chairman & CEO, K Group Holdings, Inc. 37 Perspective: Jim Ellis, President, Ellis Diversified; Chair, Riverwalk Fort Lauderdale
63 Transportation & Aviation:
38 Interview: Greg West, Chief Development Officer, ZOM Living;
64 Transportation & Aviation in numbers
65 Upward mobility: With ample airport connections, a new tricounty rail system and a developed road network, Broward County’s transport sector is well positioned to offer support and convenience to the area’s residents
Chair, Urban Land Institute Southeast Florida & Caribbean Region
40 Interview: Ryan Shear, President, Property Markets Group
42 Interview: Michael Weymouth, President, The Las Olas Company
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Contents: 66: Interview: Mark Gale, CEO, Fort-Lauderdale-Hollywood International Airport 67: Interview: Robert Fornaro, President & CEO, Spirit Airlines 68: Perspective: Jason Annunziata, Director, Fort LauderdaleHollywood International Airport, jetBlue 70: Interview: Jack Stephens, Executive Director, South Florida Regional Transportation Authority
74 Perspective: Diana Alarcon, Transportation & Mobility Director, City of Fort Lauderdale
77 Marine & Logistics:
78 Marine & Logistics in numbers
80 Sea of opportunity: Broward’s advantageous position allows the marine and logistics sector to be well served and an essential part of the local economy. Port Everglades is a crucial economic driver for the county, region and state
81 Interview: Steven Cernak, Chief Executive & Port Director, Port Everglades
82 Interview: Patrick Collins, General Manager, Crowley
83 Perspective: Charlie McCurdy, President & CEO, Informa Global Exhibitions 85 Perspective: Jim Hertwig, President & CEO, Florida East Coast Railway
87 Pembroke Pines:
88 Progress in the Pines: With an emphasis on community, Pembroke Pines is building on its strengths as a family-friendly environment with excellent education and medical amenities, while the new Pembroke Pines City Center is adding new dimensions to the area’s offerings
89: Interview: Frank Ortis, Mayor, City of Pembroke Pines
90 Perspective: Mark Doyle, CEO, Memorial Pembroke
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91 Viewpoint: Charles Dodge, City Manager, City of Pembroke Pines
92 Viewpoint: Leah Carpenter, CEO, Memorial Hospital West
94 Interview: Ron Bergeron, Founder & CEO, Bergeron Land Development
95 Interview: David Martin, President, Terra Group
97 Banking & Finance: 98 Banking & Finance in numbers 100 Bank balance: A mixture of national institutions and community banks means Broward County is well served when it comes to financial institutions. Potential new legislation could have a positive impact on institutions in the banking sector as it experiences continuing consolidation 101 Interview: Tony Coley, South Florida Regional President, BB&T 103 Interview: Cressman Bronson, Florida Regional President, PNC Bank 104 Perspective: David Druey, Division President, Centennial Bank 105 Market voices: Shannon Alfonso, Florida Region President & CEO, Marsh & McLennan Agency; Zeb Holt, South Florida Area President, Arthur J. Gallagher & Co.; Rachel Sapoznik, President & CEO, Sapoznik Insurance
107 Healthcare: 108 Environmental health: With an aged demographic and environmental challenges, the area’s medical facilities have their work cut out for them. A number of top-class institutions are ensuring that the area’s residents are well served
115 Market voices: Penny Shaffer, South Florida Market President, Florida Blue; James Repp, President & Chief Operating Officer, AvMed; John Benz, President & CEO, Community Care Plan 116 Perspective: Joyita Garg, Vice President of Florida PACE Centers, Miami Jewish Health 117 Interview: Patrick Taylor, President & CEO, Holy Cross Hospital 118 Perspective: Nancy Humbert, Executive Vice President of Ambulatory Services and External Affiliations, Nicklaus Children’s Hospital
119 Education:
109 Interview: Dr. Wael Barsoum, President, Cleveland Clinic Florida
120 Level best: All levels of education are catered to in Broward County, and the sector is a major employer. International students and locals alike enjoy a high quality of instruction
114 Interview: Aurelio Fernandez, III, President & CEO, Memorial Healthcare System
121 Interview: George Hanbury, President & CEO, Nova Southeastern University
reater Fort Lauderdale / G Broward County 2018 130 Perspective: Roger Moore, CEO, Nautical Ventures Group 131 Interview: Paul Puma, Southern Regional President, Kimco Realty 132 Perspective: Robert Shapiro, President, Master Development 134 Perspective: Dev Motwani, President & CEO, Merrimac Ventures
137 Tourism, Culture & Sports: 138 Everything under the sun: Greater Fort Lauderdale has plenty to offer tourists, with the secondlargest cruise port in the world and high-quality attractions. The area is making the most of trends such as Airbnb and luxury travel as the industry moves with the times 139 Interview: Stacey Ritter, President, Greater Fort Lauderdale Convention & Visitors Bureau
122 Interview: Arthur Keiser, Chancellor & CEO, Keiser University
140 Interview: Lisa Lutoff-Perlo, President & CEO, Celebrity Cruises
124 Interview: David Armstrong, President, Broward College
141 Perspective: Edie Rodriguez, CEO & President, Crystal Cruises
127 Dania Beach: 128 Life’s a beach: Once known as the antique capital of the South, Dania Beach now has much more to offer. It is a logistics base, has a growing IT sector and is a family-friendly tourist destination 129 Interview: Tamara James, Mayor, City of Dania Beach
142 Interview: Matthew Caldwell, President & CEO, Florida Panthers 144 Interview: Kelley Shanley, President & CEO, Broward Center for the Performing Arts
ISBN 978-0-9988966-1-8 President: Abby Melone Chief Financial Officer: Albert E. Lindenberg Managing Editor: Alex Mazonowicz Executive Director: Erica Knowles Editorial Manager: Jared Kimball Art Director: Nuno Caldeira Editorial Assistant, Contributing Writer: Valerie Silva Production Assistant: Michael Gargula Accountant: Andrew Mellet Intern: Mackenna Smith Invest: Greater Fort Lauderdale / Broward County is published once a year by Capital Analytics Associates, LLC. For all editorial and advertising questions, please e-mail: contact@capitalaa.com To order a copy of Invest: Greater Fort Lauderdale / Broward County 2018, please e-mail: contact@capitalaa.com All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, without the express written consent of the publisher, Capital Analytics Associates, LLC. Whilst every effort has been made to ensure the accuracy of the information contained in this book, the authors and publisher accept no responsibility for any errors it may contain, or for any loss, financial or otherwise, sustained by any person using this publication. Capital Analytics Associates, LLC accepts no responsibility for the return of unsolicited manuscripts and/or photographs, and assumes no liability for products and services advertised herein. Capital Analytics Associates, LLC reserves the right to edit, rewrite, or refuse material.
147 Interview: Bonnie Clearwater, Director & Chief Curator, Nova Southeastern
Photo Credits: Contents:
pg 42 – Comras Company of Florida
pg 4 – City of Pembroke Pines
pg 46 – Metropica
Economy:
Construction:
pg 15 – FEC Railway
pg 49 – Small: Hotwire Communications
pg 18 – Brightline
pg 50 – Miller Construction Company
pg 21 – B roward County Department of Environmental Protection and Growth Management pg 24, 28 – Citrix Systems pg 27 – Wyncode Academy
pg 52 – Kaufman Lynn Construction pg 54 – Master Development pg 58, 60 – B roward County Department of Public Works Transport & Aviation:
Real Estate:
pg 63 – Large: FLL
pg 31 – L arge: Ellis Diversified
pg 65 – Southwest Airlines
Small: ZOM Living pg 41 – Ellis Diversified
pg 72 – jetBlue pg 74 – Spirit Airlines
Marine & Logistics: pg 77 – Large: FLL Small: FEC Railway pg 79 – Port Everglades pg 82, 84 – FEC Railway
Education:
Pembroke Pines: pg 87, 88, 93, 94 – City of Pembroke Pines
pg 130– Nautical Ventures
Banking & Finance: pg 97 – Small: PNC Cressman
Tourism:
Healthcare: pg 107 – Large: NSU Small: Memorial Healthcare System pg 108, 112, 116 – NSU pg 110 – Memorial Healthcare System
pg 138 – Winterfest
pg 119 – Large: NSU Small: Broward College pg 120, 123, 125 – Broward College Dania Beach: pg 132 – Kimco Realty pg 137 – Large: NSU Art Museum pg 140 – Broward Center for Performing Arts pg 143 – Florida Panthers Pg 146 – NSU Art Museum Fort Lauderdale
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Dania Beach: Once a quiet farming town, Dania Beach has grown into an economically vibrant city. Today it remains a hub of the region’s robust marine industry, and its notable sports and entertainment offerings are of great interest to enthusiasts of both. Meanwhile, construction of the massive multiuse development Dania Pointe is progressing, bringing with it a new stream of residential and commercial opportunities.
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Life’s a beach: Once known as the antique capital of the South, Dania Beach now has much more to offer. It is a logistics base, has a growing IT sector and is a family-friendly tourist destination The City of Dania Beach is building upon its existing character and absorbing a hotbed of new development activity. Located in the heart of the tri-county area of Miami-Dade, Broward and Palm Beach, Dania Beach is adjacent to and just south of the Fort LauderdaleHollywood International Airport (FLL) and just west of Port Everglades. The city straddles the heavily traveled Interstate-95 corridor, providing unparalleled access to the major north-south highway and only a mile away from I-595, Broward’s major east-west highway. Dania Beach encompasses miles of ocean, beachfront and intracoastal properties to the east and stretches over 2 miles to the west. It is a significant center for the marine industry and other industrial and commercial properties, in addition to existing residential neighborhoods, many of which are located on water features such as the ocean, the intracoastal waterway and interior canals. Dania Beach is an important entertainment destination in South Florida with the newly renovated Casino @ Dania Beach. It will soon be home to Dania Pointe, a 2.5-million-square-foot mixed-use development to be built along I-95 on a 102-acre parcel 128 | Invest:
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of land. Dania Pointe will include shops, restaurants, entertainment venues, two hotels, corporate offices and more than 1,000 residential units. With abundant waterfront property and beautiful beaches, the city’s tourism industry is one of its primary economic drivers, as evidenced by the increase in hotel development, occupancy and visitor spending. Multifamily developments are springing up throughout the city, with an additional 3,000 units projected to be built within the next few years. Danish background Dania Beach was the first city incorporated in Broward County in 1904. It was originally a town made up of 12 Danish families. In 1898, the town was officially incorporated. The total of 35 residents were of Danish origin, giving rise to the name “Dania.” Dania Beach has grown into a city with a population of approximately 30,000. Major growth is expected over the next decade, with over 3,000 new residential units already approved for development. The name was officially changed to Dania Beach in 1998 to emphasize the beachfront on the eastern boundary of the city.
Downtown attractions Downtown Dania Beach is expanding along Dania Beach Boulevard and Federal Highway (U.S. 1). In 2107, the downtown area is home to 12 hotels, with construction of an additional four expected to be complete by the end of 2017 and the beginning of 2018. Arts and design have a strong commercial presence in Dania Beach, which was once known as the antique capital of the South. Dania Beach houses a unique Antique Row along U.S.-1 featuring art galleries and shops. Lucky breaks Anchoring the activity in the downtown area is the new Casino @ Dania Beach, which has recently been redeveloped and provides a year-round entertainment venue. As the newest casino in Broward, The Casino @ Dania Beach has 900 Las Vegas-style slot machines, a 24-table poker room and live Jai-Alai, an iconic squash-like game known as the fastest ballgame in the world because of the unique device players use to accelerate the ball. Dania Beach is also home to the 800,000-square-foot Design Center of the Americas (DCOTA). The center is transforming into a mixed-use development that includes high-end designers to the home furnishings trade, Class-A corporate offices and a new luxury LeMeridien hotel that is currently under construction. Over the next few years, DCOTA will have more than 1.2 million square feet of commercial uses. New developments The goal of the Oasis Project is to improve the physical quality of life for residents of the city’s existing neighborhoods. The main focuses of the project include beautifying the city, increasing property values and fostering neighborhood pride. The Oasis endeavor has been broken up into 14 separate projects, with each one focusing on a different area or street in the city. With 11 having already been completed, the city’s work will continue on projects 12 and 13 as of November 2017. New street signs, sidewalks and driveways will be incorporated as part of these projects. The deep blue The Ocean Park Beach beautification is another ongoing major ongoing initiative undertaken by the city. Split into three phases, the purpose of this project is to enhance and revitalize the Dania Beach Ocean Park by focusing on beach restoration, preservation, landscaping and beautification. Phase one of the project focused on the beautification of the Dania Beach Ocean Park and was completed in March 2017.
Tamara James Mayor, City of Dania Beach
As a native of Dania Beach, what do you hope to be the biggest accomplishments during your tenure as Mayor? One of my main priorities as mayor of Dania Beach is to rebrand the city. We want to transform it into a city in which anyone can be proud to work, live and thrive in, regardless of gender, sexual orientation, religion, classification or age. Some of the biggest challenges that we face in achieving these goals continue to be traffic and our pension obligation with the Broward Sheriff’s Office. We will continue working with the Broward Metropolitan Planning Organization to make sure that we are evolving along with the needs of the surrounding residential districts and businesses. As our tax base increases, we are making sure that we secure additional police and firefighters to sustain the growth in Dania Beachs. How does Dania Beach distinguish itself from other cities in the area? Dania Beach was the first city to be incorporated within Broward County and to this day remains a true gem. We are one of few cities in Florida that has a marina located directly on the beach. In addition to that, accessing and parking along our beach is convenient. We have a restaurant on the pier. The city is located at a perfect distance from Port Everglades and Fort LauderdaleHollywood International Airport, and that location is an advantage both from a quality of life perspective for residents as well as businesses considering operating here. How is the city ensuring that new economic development helps benefit all residents? Continuing to focus on generating new economic development means that we will be expanding our tax base. I hope that with all the ongoing and upcoming economic development in Dania Beach we will soon be able to lower our effective tax rates. This is a situation in which everyone wins. Additionally, the businesses that we are bringing into Dania Beach will be businesses that our residents will be able to enjoy. www.capitalanalyticsassociates.com | 129
DANIA BEACH OVERVIEW
Phase two will cost $4.9 million and focus on the beautification of Ocean Park, including a pedestrian beach walk, new parking areas and improved access. It is expected to be completed in 2018. Phase three is being planned with restaurants, a playground, a pavilion, a newly-renovated retail complex, a banquet hall and mixed-use education building at a total cost exceeding $20 million. It is estimated that the full program will be completed by 2024. The road ahead Preliminary plans are currently being studied by the Florida Department of Transportation (FDOT) to substantially improve the I-95 interchanges at Griffin and Stirling Roads, which serve as the main entrances to the city from the heavily traveled north-south interstate highway. Various other infrastructure improvements are under construction and planned. A significant improvement is in the process of being completed by the end of 2017. FDOT awarded approximately $5 million to replace the Ravenswood Road Bridge over the Dania cutoff canal. Construction began in November 2015. The project includes installation of new drainage and sewer lines, construction of a new bridge and reconstruction of Ravenswood Road. Other road improvements are planned and under construction throughout Dania Beach, including the award of approximately $1 million for roadway improvements on SW 30th Avenue, completed in summer 2017. The main purpose of the project was to widen the road to allow for greater traffic flow. Marine core The marine industry plays a vital role in the city. The Dania Beach Pier is a focal point for the beachfront and there is a 120-boat marina managed by Westec Marine,
The marine industry plays a huge role in supporting Broward’s small businesses, especially along the waterways of Dania Beach.
– one of the largest marine management companies in Florida. More than 300 marine-related companies are based in Dania Beach, which is also home to the Nova Southeastern University Oceanographic Center and Florida Atlantic University’s SeaTech Program. The $11.5-billion industry is an economic driver for the city because of the direct access to Port Everglades, the Intracoastal Waterway and the Atlantic Ocean. Dania also serves as an important center for marine research and technological innovation. The STAR Center located in the city on 10 acres of land is a not-
Roger Moore CEO – Nautical Ventures Group
We have an optimistic outlook for the local marine economy and the economic outlook for Dania Beach is quite strong. One of our future challenges will be finding qualified workers. The Marine Industries Association of South Florida has identified this as the number one problem facing the industry. Currently, the marine industry’s growth is outpacing the rate of mechanics, tradesmen and craftsmen graduating from technical schools.
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Paul Puma, Southern Regional President – Kimco Realty
for-profit division of the American Maritime Officers Union. More than 3,000 commercial vessel and cruise ship maritime officers are trained annually at this facility, including navigational and engine room officers. The STAR center is equipped with the most modern and advanced technology equipment and simulators in the entire U.S. Tourist spot The warm weather and the beach invariably are the main factors attracting tourism to Dania Beach. The close proximity to the airport and the cruise port are other significant factors attracting visitors to the city, with cruise ship passengers enjoying themselves for days both before and after their cruise travels. Tourism is a major economic force in Dania Beach with 10 percent of Broward’s total hotel capacity, or 2,200 rooms located in the city. This will increase in the immediate future with an additional 1,100 rooms already under construction or with site plan approved. By the end of 2017, there will be the completion of four new hotels. This addition, along with other planned and approved developments, should increase the number of rooms available in Dania to almost 3,500, which is expected to constitute approximately 15 to 18 percent of Broward’s total hotel room inventory. In
How does Dania Pointe fit into Kimco’s overall portfolio? Dania Pointe represents a large investment by the company and satisfies an important step in meeting our goal for portfolio growth in the dynamic South Florida market. In many ways, Dania Pointe marks a new direction for Kimco Realty as we meet the demands of the evolving shopping center by creating a sense of place for the surrounding community, where customers can shop, dine, live, work and be entertained. Florida is the third-fastest growing state in the U.S. It has been identified as a core market for Kimco Realty with the goal of growing our portfolio within key submarkets such as South Florida, including of course, Broward County. Kimco Realty currently owns and operates 32 shopping centers in South Florida. When the opportunity became available to purchase the 102 acres for the Dania Pointe project, we recognized the value of a new South Florida development and its strategic location along I-95. Working with the City of Dania Beach and Broward County on the Dania Pointe development has been a positive experience, and we are certain that it will continue to be as we move forward with the development process. How will the integration of technology help attract visitors to Dania Pointe? One of the benefits of developing 102 acres from the ground up is being able to plan the fiber optic infrastructure. This fiber optic infrastructure will afford the residential and office developers the opportunity to build smart buildings for the benefit of their customers and operations. For the retail component, there will be interactive kiosks and digital screens that will keep visitors and residents informed of upcoming events. Efficient irrigation systems, smart parking decks for shopper convenience, project-wide Wifi connectivity and lighting management will also be made possible due to this investment in fiber optic infrastructure. www.capitalanalyticsassociates.com | 131
DANIA BEACH OVERVIEW
2015, average hotel occupancy reached 79 percent while total 2015 visitor expenditures amounted to $14.2 billion. Logistic base The trade and logistics support sector is a major employer in Dania Beach. The city is becoming an important destination for the tech industry with Magic Leap and Chewy, Inc., two major startup companies founded in Dania Beach. In fact, Chewy, the leading online retailer of pet food and supplies, is currently the largest employer in the city. The company increased its sales from $26 million in 2011 to almost $2 billion in 2017. Magic Leap has been one of the highest capitalized startups in the U.S. with more than $700 million of venture capital, including a major investment from Google. Chiquita Banana is also headquartered in Dania Beach. Chiquita, the world’s largest international banana and pineapple distributor, had annual revenues of $2 billion in 2016. Small wonders In the western area of the city, new logistics businesses and flex space and storage warehouses are flourishing, with additional headquarters buildings planned for smaller corporations attracted to the city. In July 2017, it was announced that the new startup, Plum, has raised $9 million of venture capital in late 2017. Plum, which has come up with an innovation to chill wine by the glass, is headquartered in Dania Beach. In addition to downtown businesses such as Staged Right Events and the Runway 75 Restaurant, there are dozens of small businesses operating on Federal Highway, along Stirling Road and in the western Tigertail Avenue sections of the city. Nautical Ventures, a full-service marine retailer, and Redline Media Group, a fullservice creative marketing agency, are only a few of the actively growing small businesses in the city.
New master planned developments are providing several years of demand for the local construction sector.
Robert Shapiro President – Master Development We envision Dania Pointe as being the beginning of a renaissance for Dania Beach. We are going to be raising the bar for other regional developers. People will be able to live, work, shop and dine at Dania Pointe while having an enjoyable experience. Dania Pointe is also going to be a smart town, mixed-use development, which will have major fiber optic infrastructure that will enable high-speed wireless connectivity and provide complete digital capability.
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Emerald Construction is a woman or minority-owned business headquartered and employing some 125 people in Dania Beach. The company has been operating for over a decade and specializes in hospitality, retail and mixed-use developments. Recent projects include the Royal University Plaza at Coral Springs, the Miami Arts Charter School in Wynwood, Miami and the Tropical Letter Carriers union mail center in Miramar. Smart mix Dania Beach is moving with the times and implementing smart city technology as part of Dania Pointe a 2.5-million-square-foot mixeduse community. Developed by Kimco Realty, Dania Pointe will be the newest attraction to the city with an approximately $1 billion mixed-use development on a 102 acres of land. Plans are approved and underway to build up to 900,000 square feet of retail space, 1,000 luxury rental and condominium multifamily apartment homes, 350 hotel rooms and 506,000 square feet of Class A office space. With its central location adjacent to I-95, just south of the airport, and west of the cruise port, Dania Pointe is likely to become a catalyst for additional growth in the area. With the 2.5-million-square-foot Dania Pointe, together with the adjacent 1.2-million-square-foot DCOTA, the area from Griffin Road to Stirling Road will effectively act as a sub-metropolitan business district in Greater Fort Lauderdale. With over 28 restaurants and entertainment uses planned, Dania Pointe has the potential to become the restaurant and entertainment capital of Broward County. Dania Pointe will feature smart technology throughout the development. It will be offering high-speed internet connectivity by installing an advanced fiber-optic technology infrastructure throughout all of the uses of the development. This will allow applications by
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DANIA BEACH OVERVIEW
Once centered on tomato farming, Dania Beach now draws large crowds to its many leisure and entertainment offerings.
smartphones and other smart devices to be used as keys to offices, apartments and hotels and allow digital control of lighting and air conditioning. Family friendly The recently completed multifamily complex, The Place at Dania Beach consists of 144 residential units and 8,000 square feet of commercial space for dining and retail. The city has also approved eight other
multifamily developments with more than 2,000 additional apartments, single-family homes and townhomes. At The Place at Dania Beach, rental rates start at approximately $2 per square foot. The project has many amenities for residents including a rooftop recreation facility, pool and fire-pit. It is the first completed multifamily project in the city. Trion is expected to be the next luxury, mixed-use multifamily rental property to be developed by
Dev Motwani President & CEO – Merrimac Ventures
The real estate market is healthy. There is a lot of supply that has been planned or being built right now across multiple product types because Broward has net positive migration. We are attracting new demographics such as foreign buyers and younger people, and interest rates are still low. We’re not immune to issues that might impact the global economy, but the fundamentals are solid.
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could generate about $400 million in net savings for FPL customers and reduce greenhouse gas emissions. This renewable innovation is planned to be in service by 2022. Help wanted Despite all of its accomplishments, Dania Beach faces a few areas requiring improvement. Affordable housing is a key issue, particularly to accommodate more young professionals joining the workforce in Dania Beach. In addition, workforce preparedness is another concern. With so many projects to take place to facilitate growth in Dania Beach, the city needs skilled construction workers. In addition, the city will need more companies trained in IT and administrative positions once all the new major projects start coming online. The city is attempting to address these issues with sponsored training programs and public-private partnerships at no cost to employees to help prepare for the new economy anticipated in the city. Like many other older cities in the U.S., issues exist to improve the overall utility infrastructure of Dania Beach. Plans are being considered to upgrade the water supply system. Storm drainage within the city also needs to be addressed, especially in light of climate change and the low ground elevations in the city. The city’s proximity to the ocean exacerbates normal wear and tear and requires constant improvement. Merrimac Ventures at the northeast corner of Federal Highway and Dania Beach Boulevard. The $70-million project will consist of 300 apartments, 16,000 square feet of retail and incorporate various luxury amenities including a fitness center, a dog park, co-working spaces, yoga and spinning rooms and an attractive pool deck. Construction plans are currently underway. Work is projected to start in 2018. Several other low-rise and mid-rise eight-story to 14-story multifamily apartments have already been approved and are expected to be built over the next three to five years, adding approximately 2,000 residential units to the city. In addition, a number of single-family home developments are currently in the pipeline for the eastern and western areas of the city, including several distinctive developments planned by Stellar Homes. Power play Florida Power and Light (FPL) has plans to upgrade its power generation facilities in Dania Beach. As a result of a major redevelopment of its existing plant, the FPL Dania Beach Clean Energy Center is scheduled to produce 1,200 megawatts of energy with 24/7 capacity, which
Looking ahead Dania Beach is renewing itself as an urban development hot spot. Multiple developments are underway to urbanize and diversify the city and substantially increase its tax base and other revenues. The invention and reinvention of commercial and entertainment venues and emphasis on mixed-use developments are beginning to attract newer and younger residents. The city’s central location within South Florida and its proximity immediately south of the airport, west of the cruise port, and its location along both sides of I-95 make it a desirable locale for residents and business owners alike. With the additional taxes to be obtained from new developments, the city will continue to grow and improve its existing neighborhoods and infrastructure to achieve its overall objectives. With an increasing emphasis on urbanization and diversification, the implementation of smart city technologies at Dania Pointe and expansion of other mixed-use sites such as DCOTA, the city commission is committed to facilitate the creation of a dynamic and vibrant renaissance to the city while maintaining and improving the city’s existing historic neighborhoods and charm. www.capitalanalyticsassociates.com | 135