Developer of Metropica in Sunrise is Searching For a Joint Venture Development Partner

Metropica is the greatly anticipated urban high street development encompassing 65 acres and more than 4 million square feet of world-class residential, commercial, hotel, conference and public spaces. Originally approved in 2014, the development will offer over 1,900 high-rise residential units and an abundance of unrivaled experiences including world-class shopping and dining, a five-star health and wellness center, a resort-style Beach Club, several public spaces dedicated to visual and performing arts, additional elevated recreational amenities such as a tennis club, mini-soccer fields and its very own Central Park. 

Almost a decade later, the developer is seeking an equity partner for the project to start picking up the pace and will need more than $250 million to do so. According to one of the brokers leading the equity search, the developer is amenable to "re-looking at the site plan and building something that is going to fit well in today's economy." Because of the huge demand for high-end rentals in the neighborhood, the developer is thinking about constructing apartment complexes.  

In 2020, the developer completed one of the 263-unit residential structures included in the plan called, Metropica One. The recent listing does not mention Metropica One. 

Stay tuned for more updates on this project. 

Photos courtesy of K Group Holdings, Inc. 

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