A group of developers has purchased a 170-acre site in Coconut Creek for $68 million, with plans to build a large-scale mixed-use community. The partnership includes 13th Floor Homes, Rosemurgy Properties, Schmier Property Group, and Giles Capital Group. The property is located on the west side of Lyons Road between Wiles Road and West Sample Road.
The seller was Johns Family Partners, whose principals are descendants of the family that has owned the land since the early 1900s. The joint venture secured financing from CIBC Bank USA and was represented by Nelson Mullins law firm.
According to a press release, the new development, called Mainstreet at Coconut Creek, will feature 80,000 square feet of grocery-anchored retail space along with residential options such as 792 apartments, 414 townhomes, 148 villas, and 296 condominiums across twelve city blocks. The plan also includes public green spaces: a 14-acre wetland preserve and more than six miles of biking and exercise trails.
The first phase received approval from the Coconut Creek City Commission last year. It will consist of six four-story condominium buildings containing between sixteen and twenty-four units each on nearly five acres. Construction is scheduled to begin later this year with completion expected in 2027.
13th Floor Homes is based in Fort Lauderdale and is led by Michael Nunziata. It operates as a subsidiary of Miami-based 13th Floor Investments under Arnaud Karsenti’s leadership. The other three partners are based in Boca Raton.
Rosemurgy Properties’ CEO Alex Rosemurgy leads a company that has developed or acquired over 2.5 million square feet of real estate with ongoing projects valued above $1 billion in Palm Beach and Broward counties. Schmier Property Group, headed by Brian Schmier, also claims over 2.5 million square feet of commercial real estate developed or owned in South Florida. Rick Giles leads Giles Capital Group; he has been involved as partner or investor in projects exceeding $730 million with an additional $360 million underway.
Previously, Schmier and Giles worked with Rosemurgy on Uptown Boca—a mixed-use project spanning thirty-eight acres in Boca Raton.
