Pompano Beach Innovation District
- Land Acquisition
- Redevelopment Advisory Services
- Issue RFP Bid Documents
- Marketing, Branding, & Business Attraction
- Project Management
- Planning and Zoning Amendments
Real Estate Development & Recruitment
The plan to build a downtown in the City of Pompano Beach, Florida started over 20 years ago with a focus on land acquisition. The largely African American community was upset that after many buildings were purchased and demolished, the area that was supposed to become a downtown remained stagnant and became virtually abandoned. Although a Community Redevelopment Agency (CRA) was formed, significant revitalization had not occurred in a meaningful way and the area suffered from an abundance of vacant, or blighted properties with little economic development opportunities for residents.
RMA as the CRA management team led the effort to drastically improve the physical environment in Downtown, including renovating historic buildings for cultural uses, producing events to attract businesses including a brewery, and amending the zoning and land use categories to transit-oriented development. A market analysis was conducted and evaluated the real estate assets in the Downtown area to spur private investment and create an Innovation District, a vibrant and mixed-use concept that emphasizes a combination of business, hospitality, education, and cultural uses.
In addition to bringing 2 new Downtown developments totaling over $76 million along with multiple new businesses, the CRA is now poised to generate major economic impacts in the Innovation District including:
– 950,000 SF Mixed-Uses
– A projected $405 million increase in taxable value
– Over 4,000 new jobs estimated at buildout