In a landmark decision, the City of Pompano Beach has given the green light for a team to negotiate a master developer agreement with RocaPoint Partners, potentially paving the way for a Downtown Pompano Beach.
The 4-1 approval by the City Commission marked a pivotal moment in the City’s development. RocaPoint Partners initial proposal will see more than a billion dollars flow into the Northwest Pompano area.
RocaPoint Partners emerged as the recommended choice in a competitive, months-long bidding process. The company’s vision for a new Downtown Pompano Beach includes a blend of mixed-use spaces, green initiatives and a focus on community engagement.
The only other firm in contention, Related Urban Development, formally pulled out of consideration on the day of the special meeting. The move was so last-minute that the outside consulting firm hired by the City did not have time to update its PowerPoint presentation in time for the public meeting.
However, City officials expressed both enthusiasm and apprehension about the potential economic and cultural impact of the partnership. Mayor Rex Hardin stated, “I’m committed to seeing this City advance… and I see this as the best opportunity that we have.” Adding that he has been waiting for this opportunity for a quarter-century.
After pulling a motion to postpone the special meeting to a later date, Commissioner Beverly Perkins, the sole vote in opposition to starting negotiations, said, “I’m not sure that this is the best opportunity, but it is what it is.”
The negotiation team for the City is set to commence negotiations over the coming months with RocaPoint Partners to finalize a master developer agreement. The proposed development aims to breathe new life into a historically underserved part of the City, providing a dynamic environment for businesses, residents and cultural endeavors.