SUNRISE, FL—The proposed $1-billion Metropica mixed-use development project here has the backing of the City of Sunrise.
Earlier this week, the City of Sunrise Commission gave the development a unanimous 5-0 vote of confidence. The development agreement with the city for phases one and two allow for the development of 1,250 high rise residential units, 485,000 square feet of commercial and 150,000 square feet of office space on 28 acres of the property.
“We are excited that Sunrise continues to be a magnet for innovative, trend-setting and sustainable development,” says City of Sunrise Mayor Michael J. Ryan. “We are also enthusiastic to collaborate on a project which has the potential to alter how we view urban-style development for decades to come.”
Metropica Holdings also received a unanimous vote in favor of the project during the preceding Land Planning Agency meeting. A resolution approving a Cost Recovery Agreement between the Metropica Improvement District, the City of Sunrise and Metropica Holdings, LLC, whereby the developer guarantees to reimburse the city for any future infrastructure expenditures, was also passed unanimously in a separate meeting.
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