Presentation on theme: "Case Study- Mizner Park, Boca Raton City purchased the 28.7-acre site for $58 million Issued a long-term lease for a mixed-use development on 12 acres."— Presentation transcript:
Case Study- Mizner Park, Boca Raton City purchased the 28.7-acre site for $58 million Issued a long-term lease for a mixed-use development on 12 acres Reserved remainder for parks, plazas and civic uses. Project spurred the development of the downtown area Turned an a lower-than-market rate rent values to an area with the highest rental rates in all of South Florida. The result was a 14-fold increase in property values between 1990 & 2002
Ultimately, we are doing this because it will enhance the quality of life for Palmetto Bay residents.
Project Area N North: SW 158 th Street East: 97 th Ave to SW 174 St 93 rd Ave to SW 168 th St 91 st Ct to SW 158 th St West US 1 southbound Ln South Eureka Drive Phase 2 Phase 1
Factors of Importance for the Project Design – Provide services close to home – Green areas buffering single- family homes – Urban Parks – Public Plazas – Pedestrian-friendly design – Attractive roads and public right- of-ways – Protect residential neighborhoods
DRTF Recommendations 1.Franjo Road as Main Street 2.Mixed-use District 3.Entertainment District 4.Office/ Residential District 5.Medical District 6.Civic District Mixed-UseMixed-Use Mixed-UseMixed-Use Residential- Multifamily Medical District Office/ Residential Civic/ Park Civic/ Park Mixed-Use EntertainmentResidential- Multifamily MUMU