Terra, Lennar’s Pembroke Pines townhome project advances

Developers want 165 townhomes

Miami /
Nov.November 11, 2020 12:32 PM
Terra CEO David Martin and 16000 Pines Boulevard, Pembroke Pines

Terra CEO David Martin and 16000 Pines Boulevard, Pembroke Pines

Pembroke Pines commissioners gave initial approval to a zoning change that would allow Terra and Lennar Homes to build a townhome project of at least 125 units.

The rezoning for Pines Village Market at 16000 Pines Boulevard passed 3 to 2 on first reading last week. A final reading is expected in early December.

The exact number of units was the focus of complaints from local residents. Coconut Grove-based Terra and Miami-based Lennar Homes want to build 165 townhomes at the development. The city’s planning and zoning Board recommends 140 townhomes, while commissioner Iris Siple and multiple residents said the developer should be held to 125 units.

The extra units would provide a strain on traffic in the area, opponents of the zoning change argued during the commission meeting. Yet, some residents called into the virtual meeting to express approval of the project, saying they would be interested in living in the development once it is completed.

The developers are willing to help with traffic improvements, including paying for another traffic light, and moved some units around to avoid obscuring views from the neighboring residential areas, said Dennis Mele, an attorney with Greenspoon Marder representing the applicant.

Mele said the commercial portion of the project is still under construction. He said a grocery chain has leased 25,000 square feet of space at the development, but declined to name it.

Tenants signed for the commercial part of the development include Cheddar’s Scratch Kitchen restaurant and a Regions Bank, according to records.

Commissioners Siple and Angelo Castillo voted against the measure. Mayor Frank C. Otis, xommissioner Thomas Good Jr. and Vice Mayor Jay D. Schwartz voted in favor of the measure.

Terra bought the land in a $23.5 million deal with the city in 2016. The property formerly housed a 24-hour, 347,000-square-foot U.S. Post Office distribution center.

In 2017, Terra scored $48.8 million in financing to begin construction on the mixed-use development.

Nearby, the Publix-anchored Village Square Shopping Center in Pembroke Pines scored a $14M refinancing loan in August.


Related Articles

arrow_forward_ios
Mast Capital CEO Camilo Miguel Jr. and a rendering of Waterline Miami River (Mast Capital)
Mast Capital JV reels in $71M loan for Miami River multifamily development
Mast Capital JV reels in $71M loan for Miami River multifamily development
Blackstone CEO Stephen Schwarzman and the Crosskeys Apartments complex at 1850-2100 SW 81 Avenue in North Lauderdale (Getty, Apartments)
Blackstone picks up North Lauderdale apartment complex for $14M
Blackstone picks up North Lauderdale apartment complex for $14M
20351 Sheridan Street, Vital Pharmaceuticals' Jack Owoc and EverWest's Rick Stone (Google Maps, Twitter, EverWest)
Bang Energy’s warehouse in Pembroke Pines trades — with a $58M bang
Bang Energy’s warehouse in Pembroke Pines trades — with a $58M bang
David Martin of Terra and an aerial shot of 1177 Kane Concourse in Bay Harbor Islands, FL (Terra, Google Maps)
Terra nabs $141M construction loan for Bay Harbor Islands mixed-use project
Terra nabs $141M construction loan for Bay Harbor Islands mixed-use project
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
Surfside collapse defendants deflect responsibility in new court docs
Jamestown sells Sunny Isles Beach apartment complex for $111M
Jamestown sells Sunny Isles Beach apartment complex for $111M
Jamestown sells Sunny Isles Beach apartment complex for $111M
L&L Holding's David Levinson and Robert Lapidus, Carpe Real Estate Partners' Erik Rutter and David Weitz with a rendering of the project (James Corner Field Operations, L&L, Carpe)
Developers buy former Rubell site in Wynwood, plan major mixed-use project
Developers buy former Rubell site in Wynwood, plan major mixed-use project
Banking on Boynton Beach: Nuveen drops $126M for apartment complex
Banking on Boynton Beach: Nuveen drops $126M for apartment complex
Banking on Boynton Beach: Nuveen drops $126M for apartment complex
arrow_forward_ios

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

Loading...