The Dania Beach City Commission unanimously voted on Tuesday to start negotiations with developers for a $634 million mixed-use project on city land.
Virginia Beach, Virginia-based Armada Hoffler Properties (NYSE: AHH) and Boca Raton-based Capital Group, led by Mario Caprini, were the winning bidders in the request for proposals (RFP) for a public-private partnership (P3) for its 6.42-acre municipal property at 100 W. Dania Beach Blvd.
The site currently has City Hall, a fire station, two historic buildings and a 440-space parking garage.
The city is working with Colliers International South Florida on the RFP.
City officials will now negotiate with the developers to finalize terms of the agreement and the scope of what they could build. The City Commission must approve the deal at another vote.
Armada Hoffler CFO Michael P. O’Hara couldn’t be reached for comment.
The developers want to lease the city property and buy the land directly to the east between Southwest First Avenue and Federal Highway – excluding the Hotel Morrison that was recently developed. Its long-term development plan calls for 1.18 million square feet with 2,240 residential units and 5,130 parking spaces. That would include office buildings of 202,500 and 138,000 square feet and a 150-room hotel. There would be 41,000 square feet of ground-floor retail and restaurant space.
The five residential buildings would each rise 14 stories.
The office buildings and the hotel would be one of the later stages of the project on the property along Federal Highway.
The developers would also build – at no capital costs to the city – a $30 million 63,000-square-foot municipal building with city hall, a library, the chamber of commerce and the women’s club, plus a $3.6 million 12,000-square-foot fire station.
The developer would spend another $3 million on common areas. The city parking garage would remain.
The terms of the leases for land and public buildings will be determined by negotiations between the city and the developer.
The developer is working with PALMA Architects with Cartaya & Associates, and Keith and Associates on the project.
Article Written By: Brian Bandell