COCONUT CREEK, FLA. — A joint venture, consisting of Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group, has closed on the $68 million purchase of 170 acres in Coconut Creek for the development of Mainstreet, a mixed-use community that will serve as the South Florida city’s future downtown core.
Mainstreet will encompass 12 development blocks with a projected build-out value at approximately $1 billion. The multi-phase project will include approximately 80,000 square feet of grocery-anchored retail space, dining and civic amenities. The residential component of the Broward County project will consist of 792 apartment units, 414 townhomes, 148 villas and 296 condominium units. Developers will break ground on the first phase of construction in late 2025.
Amenities will be distributed across four blocks and will include a village green activated with gathering areas, children’s play areas, a splash pad, a dog park, performance space, public art, a parking garage and a site reserved for a new fire station or similar civic use. Green space will be woven throughout the project, highlighted by a 14-acre wetland preserve and more than six miles of biking and exercise trails.
The property’s legacy stretches back more than a century. The site was originally purchased in 1918 by Eva and Joe Johns, who farmed beans during the winters before permanently settling there in 1921. The couple’s son, Earl Johns, continued farming the site until his passing in 2009. Mainstreet will pay tribute to this history through dedicated spaces designed to celebrate the farm’s role in shaping the city.
Land use counsel Miskel Backman LLP oversaw the project’s entitlement and approval process. Nelson Mullins represented the joint venture partners in the closing transaction and in securing the buyer’s financing, which was provided by CIBC Bank USA.