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You heard me right — Tri-Rail’s Deerfield Beach Station is poised to have transit-oriented development by 2010.
According to real estate website globest.com, Atlanta-based developer York Residential has received final approval to begin construction on the the Deerfield TOD. The project is expected to cost $180 million, with construction beginning in early 2009. Let’s hope that our market conditions don’t squash this development.
The mixed-use TOD will be adjacent to Deerfield Beach Station along Hillsborough Boulevard. Some specs according to the article:
- It will include three residential buildings with 467 market-rate apartments and 82 workforce-housing units, 36,000 sf of office space, 14,500 sf of ground-level retail space, a 140-room hotel and two parking garages with 1,146 spaces.
- The residential units are expected to come on line in 2010 while the completion date for the remainder of the project has not been determined.
- Target rents for the residential units also have yet to be set. According to Yonce, rents for a one-bedroom unit in the area range from $1,100 to $1,150 per month.
There are also 3,500 employees that work within a quarter mile of the development site, which means there could be a considerable walk-to-work element to this TOD. Let’s just hope that the design is up to far so that walking in and around the development will be a pleasant experience.
Note: Photograph is not a rendering of Deerfield Beach’s proposed TOD.
Photo: mhginc.com
