$21 Million Tamarac Village Project Closer to Completion

by Guest Contributer March 21, 2020

by Guest Contributer March 21, 2020 32 views

$21 Million Tamarac Village Project Closer to Completion 4

By: Saraana Jamraj

The long-awaited Tamarac Village, which is slated to be the epicenter of retail and dining in Tamarac, is making progress as its being redeveloped– with an estimated completion date scheduled.

In 2008, the city began purchasing 17 properties between 94th Avenue and Pine Island, totaling 23 acres along Commercial Boulevard for approximately $21 million—as the future property that would become Tamarac Village. The city then spent an additional $1.6 million on carrying costs and expenses related to the Community Development District– or special taxing district– created for the project.

Sue Zeiler, spokesperson for the city, explained that due to a development in 2015, the city is not paying for the construction or development of Tamarac Village — the developers are.

“Instead, Tamarac entered into a lease agreement with JKM Tamarac Village, LLC, for JKM Developers to construct the project and eventually purchase the property,” said Zeiler.

While it was an expensive investment, the city expects it to pay off, especially with the population of Tamarac changing—bringing in new demographics, younger people and families, and more new businesses.

Currently, the developers are constructing Phase 1, which consists of seven residential buildings that will offer 211 rental units and a residential clubhouse, along with prepping the areas designated for city parks, and the streetscaping of NW 57th Street.

Developers are also in the process of submitting plans for Phase 2, which include six residential buildings offering 190 residential units and additional streetscaping. Phase 3 will consist of three commercial buildings and more streetscaping.

According to Zeiler, the construction of the total Tamarac Village project is already 40 percent completed.

Although it’s nowhere near finished, the city has been promoting and marketing the new commercial space since late last summer.

This is all part of Tamarac’s Economic Development efforts, which also include redeveloping Colony West, new restaurants and businesses, and new commercial and residential properties.

They hope to launch a new website sharing the success stories of Tamarac Village and other developments so that the local community stays updated –and potential investors as well.

“I want to make sure our entrepreneurs and Tamarac small business owners know about the resources available to them to start and grow their businesses here,” said Economic Development Manager Lori Funderwhite.

If all goes as planned, and there are no delays due to the COVID-19 pandemic, the project will be completed in 2022, and residents will no longer have to travel to The Walk in Coral Springs or the Promenade in Coconut Creek to enjoy strolling through a shopping hub.