The developers of Metropica, a 65-acre, master-planned community in west Broward, released new renderings showing the overall project and the retail component.
Joseph Kavana of KGH International Development is developing the $1 billion mixed-use project that’s being built in phases. So far, Yoo at Metropica is the first to go vertical. The 28-story, 263-unit tower broke ground in October with an estimated completion date of the third quarter of 2018.
Remaining units range in price from $380,000 to $1.25 million. Yoo at Metropica received conditional Fannie Mae approval in January and is more than 50 percent sold. The Trillist Companies is developing the first condo building, one of eight planned with a total of 2,250 residential units for the Sunrise project. Condos range from 740 square feet to 1,379 square feet.
In all, the development will include 485,000 square feet of retail, 650,000 square feet of office space, a 240-room hotel, landscaped parks, a health and wellness center, a resort-style beach club and elevated recreational amenities such as tennis courts and mini soccer fields. Chad Oppenheim is the lead designer.
So far, Kavana closed on $38 million in infrastructure financing for Metropica in November and $22 million for the retail portion earlier this year. The shopping component, which will include tenants like iPic Theaters, Kings Bowl, Anthropologie, Shake Shack and Pisco y Nazca, will break ground this fall.
Developers expect to complete the entire project within five to seven years.