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SUNRISE, FL-Gampel Financial Corp. is winding through the final regulatory review of a plan to build a $65 million, luxury multifamily community near the Sawgrass Mills Mall, 29 miles north of Downtown Miami.

The Aventura, FL-based corporation, directed by prominent South Florida developer Harry Gampel, is proposing construction of 396 units in a 23-story structure with an accompanying six-story parking garage.

Construction completion is anticipated around two years from now, Margo Absher, Gampel executive vice president, tells GlobeSt.com. Although a general contractor has not yet been selected, the company awarded the design contract to the Hialeah architectural firm of Cohen Freedman & Encinosa.

It also is uncertain yet whether the company intends to market the property as condominiums or rentals, Absher says. But the project will target increasing numbers of professionals working in the rapidly expanding Sunrise/Weston office and industrial submarket market looking for a shorter commute to work.

“We’re targeting more than just young professional people,” Absher says. “This could be a great site for empty-nesters and executives who may prefer high-rise living.”

The project still faces some remaining obstacles in what has been about a year-long planning process, Elliot Auerhahn, director of the Broward County Development Management Division, tells GlobeSt.com.

First, the project requires a land-use plan amendment under an existing development of regional impact. The city of Sunrise was expected to approve that amendment at its Sept. 6 meeting, with the Broward County Commission tentatively scheduled to vote on the amendment at its Sept. 11 meeting.

Second, the amendment apparently proposes more residential dwelling units than allowed in the original DRI. “The developer and city will have to demonstrate that there are excess dwelling units in the DRI that they can use for this project,” Auerhahn says.

Once those obstacles are crossed, Gampel Financial also must amend a binding regulatory note on the existing Sawgrass Mills Plat, the development plan that also covers the 2.1 million-sf Sawgrass Mills Mall.

Obtaining those approvals shouldn’t pose too much of hardship for Gampel Financial, says Stephen V. Hoffman, an attorney in the Fort Lauderdale offices of Mastriana & Christiansen who represents the Aventura corporation.

Although modifications are recommended, Hoffman tells GlobeSt.com that Sunrise city staff is backing the land-use amendment.

“We’ve been processing this application over the past year, and it has gone through about 20 different public hearings administered by several different agencies,” Hoffman says. “We’re now in the home stretch.”

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