Sale of City Property leads to Redevelopment of Village Square
Published on October 13, 2020
Coral Springs, FL – The Office of Economic Development is proud to announce that on October 7, 2020, the City Commission approved the Amera Downtown Development Company, LLC (Developer) conceptual plans for development of the northwest quadrant of the city’s downtown area and the sale of the property where City Hall once stood. Plans include the redevelopment of the property known as Village Square as well as two city-owned parcels to its west. The city-owned property was sold to the developer for $4.6 million.
With a thriving downtown, George Rahael, President of Amera, plans to attract new businesses and revenue to the city. When asked why Rahael chooses to invest in Coral Springs, he said, “My family is so proud of Coral Springs, the city we have called home since 1979. We take great pride in investing in our hometown to ensure it is the best it can be for our family and the residents of Coral Springs. We raised our children here and now our children are raising their children here. The revenue and vitality that results from development is key to keeping Coral Springs beautiful and thriving. Simply put, we love the community which is why we choose to live and invest in our city.”
Amera Downtown Development Company, LLC also developed, though no longer own, Design Row on Sample Road between Woodside and Rock Island, Charter Place on Southeast corner of Sample and University and the Chipotle on University Drive South of Royal Palm Blvd. In addition to Village Square, they currently own The Walk on University and the Starbucks at the northeast corner of Sample Road and University Drive.
Of the plans, Economic Development Director Kristi Bartlett said, “One of the strategic priorities for our city is to have development in Coral Springs which enhances our community, while improving revenue. This investment, along with other planned projects, will add vibrancy and commerce to Downtown Coral Springs. We are excited to work with Amera as we see a true downtown come into focus.”
Grocery, retail, restaurants and entertainment are within the development proposed project, which will enhance the tax base in the city as well as the quality of life and sense of place for residents, businesses and visitors. The developer currently owns portions of Village Square and intends to purchase the remaining properties.
With the City Commission’s approval, Amera architects and planners have started developing plans and will have preliminary designs to soon to share with city staff for their input and direction.