JV Closes on Land for $1B Coconut Creek Project

JV Closes on Land for $1B Coconut Creek Project
News| October 21, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings

A joint venture between Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group paid $68 million for 170 acres in South Florida’s Coconut Creek for the development of Mainstreet, a mixed-use community. The projected build-out value is expected to exceed $1 billion. Mainstreet will encompass 12 development blocks.

Plans for the multi-phase project include approximately 80,000 square feet of grocery-anchored retail space, 792 apartment units, 414 townhomes, 148 villas, and 296 condominium units. The first phase of construction is expected to break ground in late 2025, marking the start of a multi-year buildout that will bring new homes, retail, dining, and civic amenities to the area.

Civic and cultural amenities will be distributed across four blocks and include a Village Green with gathering areas, children’s play areas, a splash pad, a dog park, performance space, and public art, along with a parking garage, and outdoor amenity block, 

Financing was provided by CIBC Bank USA.

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