CORAL SPRINGS — One of South Florida’s largest planned developments is undergoing a revision to meet the demand for housing: It’s expected to now offer more than double the number of apartments — with more than 700 units.
Broward County commissioners recently approved the latest development plans for Cornerstone at Downtown Coral Springs, located in a prominent spot of the city, on the southwest corner of North University Drive and West Sample Road. It’s being built on 7 acres next to the new City Hall complex — and will feature three buildings that are eight stories each, two of them apartment buildings and one of them a hotel.
The city envisions the residential section of a redevelopment plan, “Modera Coral Springs,” to become an integral part of its future downtown, a destination for people to live atop shops and eateries.
The apartments will be in two buildings, with retail space on the ground level, which will be primarily restaurants, according to the master developer. The intent is to make it a “downtown gathering place,” said master developer Rod Sheldon, with Boca Raton-based Predesco Property Investments.
“There is tremendous demand for housing,” Sheldon said, of the decision to add more apartments. “We’re proud to be a part of this groundbreaking opportunity.”
Apartments will range from one to three bedrooms and the first phase could be ready for tenants as early as May. The final project is expected to be completed in 2025.
A spokesman for the apartment building developer, Mill Creek Residential, could not immediately comment on building amenities or projected rental costs.
Pushing for homeownership, City Commissioner Josh Simmons said he was initially hoping the units would become condos. But he said multiple factors, from insurance costs to the market demand, means the project will become rentals. He’s embracing the new project: “I’m welcoming anyone who wants to come live in our city.”
He’s envisioning a downtown hub for the city, where people are “sitting outside, enjoying our beautiful Florida weather, that’s what we’re hoping to get,” he said. This project will be a “vital part of our city’s future.”