Pines City Center in Pembroke Pines is expected to break ground later this year after the developer announced that it bought a 17-acre tract for $15.9 million.
The Terra real estate firm said the land will be part of the first phase of the 47-acre project at the southwest corner of Pines Boulevard and Palm Avenue. Publix Supermarkets will anchor the 200,000-square-foot first phase, which should open in 2017, Terra said.
The second phase will include 100,000 square feet of commercial space, 385 apartments and a movie theater.
“We’re seeing a surge in demand for new retail and lifestyle offerings in the area,” said David Martin, president and co-founder of Coconut Grove-based Terra, in a statement.
House prices keep climbing in South Florida, though the region is losing ground to other areas nationwide, a new report shows.
Prices in Palm Beach, Broward and Miami-Dade counties rose 7.3 percent in July from a year ago, the 17th consecutive increase, according to the Standard & Poor’s/Case-Shiller home price index.
South Florida has ranked among the top three metro areas for price gains and even led the nation last summer. But San Francisco (10.4 percent), Denver (10.3), Dallas (8.7) and Portland (8.5) moved past the tri-county area in the latest survey.
Officially postponed: The public vote on a lease that would clear the path for a headquarter hotel next to the Miami Beach Convention Center.
At Wednesday’s Miami Beach city commission meeting, commissioners did not consider placing the item on the November ballot.
Developer Jack Portman, who wants to privately finance a $400 million, 800-room hotel that would rise up 30 stories on public land behind The Fillmore Miami Beach at the Jackie Gleason Theater, requested the delay.
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