Support Cornerstone Development Project (2019-2022) (Ongoing)
Economic Development
Time Status:
Budget Status:
Percent Complete: 50%
Start Date: 10/01/2018
End Date: 09/30/2025
In 2018, a private developer acquired the Financial Plaza building and parking lot on the southwest corner of University Drive and Sample Road and construction is underway for large mixed-use project called Cornerstone. The project is a component of the city’s vision for walkable downtown and will serve as a catalyst for additional redevelopment in the Community Redevelopment Agency (CRA).
The developer sold the north block to Mill Creek and closed in July. The north block is in for permitting as is the hotel. The developer has secured financing for the hotel and intends to buy it back and develop it. Gary Racks signed on as a tenant in the north block. On September 29th, the Developer requested a special CRA meeting for October 3rd to discuss the developer agreement. Staff also requested copies of the purchase agreement and proof of financing.
Operating Budget: $ 0.00
Capital Budget: $ 0.00
Capital Budget: $ 0.00
Legend:
Initiatives:
Closed Out/Completed | On Target/In Progress | 
Behind Schedule/Late | 
Discussion Needed
Retreat/Workshop Item | 
Delay/Hold | 
No Milestone | 
Not Defined
Initiatives:
Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed Retreat/Workshop Item | Delay/Hold | No Milestone | Not DefinedLegend:
Initiatives: Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed | Retreat/Workshop Item | Delay/Hold | No Milestone | Not Defined
Initiatives:
Closed Out/Completed | On Target/In Progress | Behind Schedule/Late | Discussion Needed | Retreat/Workshop Item | Delay/Hold | No Milestone | Not DefinedCity of Coral Springs | 9500 West Sample Road, Coral Springs, FL 33065 | 954-344-1000