Miami firm may do $100M Lauderdale Lakes project

Miami /
Feb.February 28, 2016 11:15 AM

The Lauderdale Lakes City Commission agreed to negotiate the sale of a 23-acre parcel in the city to Miami-based American Land Ventures for a mixed-use development.

The 23-acre parcel on the southern side of Oakland Park Boulevard at Northwest 31 Avenue is the largest vacant site in Lauderdale Lakes.

The city’s Community Redevelopment Agency bought the parcel in 2010 for $5.7 million.

Jason Robertson, vice president of development at American Land Ventures, told the Sun-Sentinel the value of the 23-acre parcel is between $7.5 million and $8 million. The city will get an appraisal done as negotiations proceed.

Robertson told the Sun-Sentinel that American Land Ventures would build a $100 million development there with a mix of rental apartments, retail stores, restaurants and commercial buildings.

Among other projects, American Land Ventures has developed the New River Village along the Riverwalk park in Fort Lauderdale. “We’ve blurred the lines between public space and private space so everybody can enjoy the Riverwalk,” Robertson said told the Sun-Sentinel.

Three other companies besides American Land Ventures submitted proposals to develop the vacant parcel in Lauderdale Lakes.

If the city fails to negotiate an agreement with American Land Ventures, it would start to negotiate with the second-ranked proposal, a joint venture between Lawrence Wright Luxury Development and GreenField Companies LLC.

A development proposal by ImmoCorp Capital was ranked third by the city commission, and one by BH Investments US LLC was ranked fourth. [Sun-Sentinel] — Mike Seemuth


Related Articles

arrow_forward_ios
Dan Deitchman and Koby Assaraf with a rendering of Industry | Oakland Park
Oakland Park developer partners with former Link Real Estate exec on new firm
Oakland Park developer partners with former Link Real Estate exec on new firm
Renderings of the project (Group P6)
Group P6 lands $69M construction loan for Boca Raton project
Group P6 lands $69M construction loan for Boca Raton project
Alex Sapir and Bella Sapir (Credit: Mark Von Holden/WireImage via Getty Images, and ADRIEL REBOH/Patrick McMullan via Getty Images)
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Alex Sapir’s family closes on condos at Sapir’s Arte in Surfside
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Dezer’s 30-acre megaproject in North Miami Beach gets first approval
4075 to 4201 Northwest 34th Street, Lauderdale Lakes and Peak Capital’s CEO Chris Manning (Credit: Google Maps)
Lauderdale Lakes affordable housing complex fetches $17M
Lauderdale Lakes affordable housing complex fetches $17M
Scott Schoenlank, Andor Kovacs and 6041-6047 Kimberly Boulevard, North Lauderdale (Linkedin, Google Maps)
Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M
Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M
3099 N State Rd 7, Lauderdale Lakes (Credit: Google Maps)
Another drugstore sells: Lauderdale Lakes Walgreens flips for $8M
Another drugstore sells: Lauderdale Lakes Walgreens flips for $8M
Jeff Burns, Nick Rojo, The Bohemian Lake Worth
Affiliated Development’s Lake Worth Beach apartment project approved
Affiliated Development’s Lake Worth Beach apartment project approved
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...