Arvida Park of Commerce renamed Park at Broken Sound

The Arvida Park of Commerce has been renamed the Park at Broken Sound as developers prepare to build residential units and retail stores at the 700-acre commercial park in northwest Boca Raton.

Two associations of property owners at the 37-year-old development approved the name change to reflect a new mix of  properties planned for the park, including 1,050 units in three multifamily buildings.

“Our plans will be completed and submitted to the city by June 1,” developer Jamie Danburg said Tuesday at an event in Boca Raton to announce the rebranding of the old Arvida Park of Commerce. Danburg won approval from the Boca Raton City Council in June 2014 to build 370 residential rental units at the park.

The city government opened the park to residential and retail development in 2012 by approving a mixed-use, land-use designation known as “planned mobility.”

Brian Schmier, executive vice president of Schmier & Fuerring Properties, one of the speakers at the announcement event, said his firm is developing 65,000 square feet of retail space at the newly named Park at Broken Sound.

Schmier said the new retail and residential development will leave intact the park’s 29 acres of lakes and waterways and 28 acres of green spaces.

Part of the modernization of the park will include new signage with it new name and logo.

“You’ll have a huge sense of place. You’ll know where you are,” said Bonnie Kaye, whose firm Kaye Communications is handling public relations for the rebranded park. “It’s a perfect address for live-work-play.”