Land Development Today - July/August 2007 - (Page 33)

will be working in the midst of a burgeoning business hub,” said Donna Abood, Chief Executive Officer of Colliers Abood Wood-Fay, which is handling the project’s commercial leasing. “We expect the office space to be a premium product that is perfectly in line with the property’s up-market residential and condo/hotel components.” On Florida’s Gulf Coast, construction is well underway on Signature Place, a 36-story mixed-use project — destined to be an icon — in downtown St. Petersburg with 36,737 square feet of Class-A office condominium space. The tallest building in Pinellas This 36-story m ixed-use projec t, Signature Plac planned for St. e, is Petersburg, FL (Courtesy Cant Development). or County, Signature Place will also have 206 condo residences and 40 lofts. When complete, Signature Place will span a city block in the downtown’s waterfront live/work/play corridor. “The architecture and downtown location makes Signature Place a most desirable corporate headquarters location for any business that seeks a presence in the Tampa Bay area,” said Developer Joel Cantor, CEO of Cantor Development. An estimated 2,400 to 12,890 square feet of office space is available on each of the building’s first four floors. Another ambitious mixed-use project is expected to reshape the office market in Plantation, a Fort Lauderdale suburb with a significant corporate presence. U.S. Capital Holdings, LLC, a locally based private equity investor, recently submitted formal plans for 321 North, a $350 million redevelopment on the site of a former regional shopping center that will pursue Leadership in Energy and Environmental Design (LEED®) certification. In addition to 650,000 square feet of retail space and 400 to 600 residential units, 321 North will feature 300,000 to 400,000 square feet of new Class-A office space in two new buildings. “We look forward to seeing this project contribute to the local economy by adding an enticing and compelling destination that lures new businesses and encourages leisure spending,” said Bryan Liu, Vice President of U.S. Capital. More than 50 Fortune 500 companies, including Motorola, American Express, and DHL, now have operations in Plantation. With the lowest office vacancy rate in metropolitan Fort Lauderdale (Broward County), Liu is optimistic that 321 North’s office component will advance the city’s growth as an employment center. The mixed-use project is a key component in the city’s 850-acre Midtown District, which will include public infrastructure elements to enhance the street, encourage pedestrian activity and create parks and plazas. As Plantation Mayor Rae Carole Armstrong said, “It is anticipated that U.S. Capital’s plans will combine the best of Plantation’s suburban lifestyle with the excitement of dynamic and upscale venues to serve the resident and business community.” Lessons for Developers For developers considering mixeduse projects with office components, these Florida projects illustrate some of the issues that need careful consideration: Circle 156 • or www.LandDevelopmentToday.com/adinfo www.LandDevelopmentToday.com 33 http://www.invisiblestructures.com http://www.invisiblestructures.com http://www.LandDevelopmentToday.com/adinfo http://www.LandDevelopmentToday.com

Table of Contents Feed for the Digital Edition of Land Development Today - July/August 2007

Cover Contents Our Voice: Industry Advocates Your Voice: Reader Response Cover Story: Preparing Your Tax Strategy The Rules of the Game Historical Redevelopment Project Profile: Seattle’s High Point Retention: From Ravine to Road Land Use: Picatinny Arsenal Mixed Use: Florida Offices Industry News Products/Services Showcase Classifieds Recommended Reading Advertiser Index Editorial Board The Last Word: What? Me Plan… Urban Development

Land Development Today - July/August 2007

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