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PARKLAND, FL-Davie-based Ross Matz Investments Inc. has acquired a 7.9-acre site for $3.8 million with plans to develop a $20 million mixed-use project called Parkland Village Square. Construction is expected to begin in the fall with completion anticipated in mid-2008.

Ross Matz Investments Inc. is an entity affiliated with Ross Realty Investments Inc. The project will consist of 25,000 sf of ground-floor retail space, two freestanding restaurants with 10,000 sf, 10,000 sf of office space and 10 residential townhomes with an average of 2,000 sf above the retail space. Prices for the townhomes and commercial space have not yet been established.

“The space is being preliminarily marketed,” Ross Realty Investments vice president of marketing Matthew Harris tells GlobeSt.com. “There will be an upscale tenant mix.”

The project will be located in the heart of Parkland, along Pine Island Road just north of Trails End Road and across from Parkland’s Pine Trails Park. With its location, the project will be designed as a town center surrounded by a village green area with fountains, picnic areas, a bandshell, bike paths and other amenities. It will serve surrounding communities of Heron Bay, Parkland Golf and Country Club, Parkland Isles and the proposed Parkland Village residential project.

Among reasons for pursuing the project are that median incomes in the area are well into the six-figure range and there is limited land in Parkland for commercial development. “It’s a very nice market for this type of product,” Harris says. “It will fit nicely into the area.”

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