HALLANDALE BEACH, FL-Developers are planning to break ground in the spring on the $170-million Phase 1 of the 60-acre Village at Gulfstream Park development. The project is being developed by Aurora, Ontario-based Magna Entertainment Corp. and Cleveland-based Forest City Enterprises Inc.

The project, which has received final approval, will be built around MEC's thoroughbred racetrack and will be constructed over the next 10 to 15 years, Forest City regional director of development Will Voegele tells GlobeSt.com.

The total project calls for 1,500 condominiums, 750,000 sf of retail space, 140,000 sf of office space, a 500-room hotel and a 2,500-seat cinema. It will also include the construction of 225 affordable work force housing units on the site and in neighborhoods within the city. Phase 1 will include 375,000 sf of lifestyle retail, featuring 70 upscale shops and specialty stores, and 70,000 sf of office space. It is expected to be completed in fall 2008.

The location of the project, along US 1 and centrally located in Miami-Dade, Broward and West Palm Beach counties, is among its attributes, developers say. Another impetus for the project was the redevelopment of the racetrack, where a casino recently opened. "This is just a great marketplace," Voegele says. "Miami-Dade, Broward and West Palm are some of the fasting growing areas in the country."

Developers have begun marketing the retail space to a mix of international, national, regional and local tenants, but have not yet signed any leases for the space. Marketing efforts for the office space, which will be constructed on top of the retail space, have already started. "We anticipate attracting companies that want a presence in a high-profile area," Voegele says.