A billionaire project coming to Fort Lauderdale. Planned development for The Galleria at Fort Lauderdale By Miriam Valverde, Sun Sentinel A $1 billion neighborhood of homes, senior-living apartments and hotel rooms, including a 45-story tower that could become Fort Lauderdales tallest building, may eventually rise around the Galleria at Fort Lauderdale. The malls owner, Keystone-Florida Property Holding Corp., announced plans this week for seven buildings containing 1,600 apartments or condos and 150 hotel rooms, connected by tree-lined streets, walkways and bike lanes in what the company calls a walkable community off Sunrise Boulevard. If approved by the city, construction would start in late 2015 and be completed in phases over seven years, mall executives said. Keystone-Florida submitted plans to the citys Department of Sustainable Development on Tuesday, but theyre already raising concerns about parking and more traffic in an area clogged with cars. Fort Lauderdale Mayor Jack Seiler said he has not seen the plans but has spoken with developers. The project would seem to benefit the community through new jobs and housing, but developers need to address parking and traffic concerns, Seiler said. Everything is about balance, Seiler said. You can bring good projects in here and good development, but at the end of the day, youve got to maintain balance with quality of life. Theres no reason to believe theyre not going to make the necessary compromises to really present a first-class project in the city that also preserves our quality of life. The Galleria project joins a string of major developments announced in Broward County in recent months. In Sunrise, developer Joseph Kavana, of Miami, plans to break ground next year on Metropica, a project with up to 2,500 condos, 300 townhomes, commercial and office space and a 2-acre park deeded to the city. In Dania Beach, Aventura-based Master Development hopes to build DaniaLive Marketplace, a 1.3 million-square-foot open-air shopping center that would include big-box stores, restaurants, hotels and apartments. I think were beginning to get to a saturation point now, said Jack McCabe, chief executive of McCabe Research & Consulting, based in Deerfield Beach. Without a doubt, developers confidence is running very high. The Galleria development would be built on 40 acres owned by Keystone-Florida. The 45-story tower would stand on the eastern edge, containing luxury apartments or condos. A city spokesman said it would be Fort Lauderdales tallest building, three stories higher than Las Olas River House, which advertises itself as the tallest in Broward County. Ralph C. Meola, who lives near the Galleria, attended a standing-room-only meeting Monday night where project staff presented the plans to the community. Many residents were concerned about traffic, he said. They had tons of major objections, Meola said. The sheer density of it all, the impact on the neighborhood, the drastic change it would be. Some parents also were concerned about possible overcrowding at schools, he said. Mall representatives said they are conducting traffic studies and will continue to have community meetings to hear from neighbors. The Galleria is home to about 100 retailers and anchored by Macys, Dillards and Neiman Marcus. Its roster also includes restaurants P.F. Changs, The Capital Grille and Trulucks. The shopping center opened in the 1950s as an open-air venue called Sunrise Shopping Center. It became an enclosed mall in 1980 and was renamed the Galleria at Fort Lauderdale. This is just the next progression to maximize our property, said Mark Trouba, the Gallerias general manager. The mall lost two major national tenants in recent years: Lord & Taylor in 2002 and Saks Fifth Avenue in 2008. The mall has struggled to fill the large spaces they left behind. The new development will better position the Galleria in the retail industry, Trouba said. Retailers look for dense regions when choosing where to open, he said. Retail is all in the numbers, said Beth Azor, president of Azor Advisory Services, a retail consulting firm in Davie. Demographics and income — thats what drives retail. Adding people is good; adding people with money is even better.
Posted on: Sun, 14 Sep 2014 12:36:26 +0000
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