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MIAMI -Miami-based K-Group Holdings Development and Codina Group Inc. of Coral Gables, FL, plan to break ground in December on Metropica, a 562,000 sf, $160 million mixed-use venture adjacent to the 2.2 million-sf Sawgrass Mills Mall in Sunrise, FL.

The 39.8-acre office, retail and residential project is being built on a seven-year construction track at a hard construction cost of $285 per sf, according to a prepared statement from Codina Group.

Metropica will have 363 apartments, 500,000 sf of office and 62,000 sf of retail and restaurant space. A subsidiary of K-Group owns 25 acres next to the Metropica project.

Preliminary plans for the additional acreage include more office, retail and residential buildings as well as a new city hall for Sunrise.

Joseph Kavana, chairman and CEO of K-Group, says in a prepared statement, “We envision a downtown destination for people who want to live and work in Sunrise. Our goal is to create a first-class development that will attract people to the city and bring economic benefits to the area.”

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