Apartments proposed onMargate plaza
Affected tenants agree to vacate
Part of aMargate shopping center could be demolished to make way for a 220-unit apartment complex.
The proposal submitted to the city calls foran8-acreproject called Marquesa on the eastern portion of the existing strip shopping center at 5203 Coconut Creek Parkway.
Four buildings, with four stories each, would house 80 one-bedroom, 116 two-bedroom and 24 three-bedroom apartments. The unitswould range from 756 to 1,210 square feet in space and from$1,100 to $1,550 in rent, said Robert Cambo, the property owner’s spokesman. There also would be a community clubhouse and pool.
Middle-class workers who find it hard to qualify for mortgages and come up with hefty down payments are looking for more rental options, Cambo said.
“Thehousing stock inMargate is older, newprojectshave leased successfully,” he said. “We think we’re bringing shoppers to the city, [they’ll] spend money in the city.”
Site plan approval and plat approval are both pending before the city’s Development Review Committee.
The 18-acre property was purchased in 2015 for $12.3 million by Miami-based Alliance XVI LLC. Alliance’s developer partner has not yet been announced.
Under the proposal, the shopping centerwould go from190,000 square feet to 120,000 square feet. Cambosaid one tenant, a memorial chapel, has already vacated the site. Three others — a law firm, a nonprofitandaday care, have agreed to relocate.
The site of the shopping center also has two charter schools, West Broward Academy and Ascend Academy Charter High School, whichwould not be affected. lhuriash@sunsentinel.com, 954-572-2008 or Twitter @LisaHuriash