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Coconut Creek approves Main Street development agreement and related land exchange
Summary
The Coconut Creek City Commission unanimously approved a long-term development agreement for the roughly 200-acre Main Street at Coconut Creek project and a companion land-exchange agreement with the developer, GSRRE Partners LLC. The city amended some exhibits between readings to align legal descriptions and an updated appraisal.
The Coconut Creek City Commission on Aug. 28 unanimously approved a development agreement with GSRRE Partners LLC to govern the Main Street at Coconut Creek mixed‑use project and passed a companion property exchange that moves specific parcels between the developer and the city.
The development agreement covers the approximately 200 acres bordered by Lyons Road and State Road 7 (U.S. 441), between Wiles Road and Sample Road, and provides for a mix of residential, commercial, parks, open space and civic uses. The land-exchange ordinance transfers about 6.1355 acres from the city to the developer (Block 15A) and approximately 5.732 acres from the developer to the city (Blocks 12A, 12B, 13 and civic node circulation), according to legal descriptions attached to the agreement.
City Attorney Pyburn told the commission the only changes between first and second reading were technical and documentary: the cost‑sharing term sheet (Exhibit M) was split to create separate workforce‑housing rental agreements for different blocks, and Exhibit N (the land‑swap agreement) was updated so the square footage in the agreement matched the legal descriptions and the updated appraisal. The earlier per‑square‑foot figure of $15.15 was revised to $16.51 based on the updated appraisal attached to the exhibit.
Commissioners asked for and received confirmation that the changes were limited to the exhibits and did not alter the overall structure of the development agreement. No members of the public spoke during the public hearings for either ordinance.
Mayor Railey and the commission voted in favor of both ordinances on their second readings. City staff and developer representatives were present to sign documents and posed for a post‑vote photograph.
Why it matters: The development agreement establishes long‑term rules for development intensity, public infrastructure, workforce housing commitments and cost‑sharing for certain public improvements. The property exchange gives the city and the developer the parcels needed to advance the Main Street plan and reflects an updated appraisal to establish fair consideration.
What’s next: City staff said final closing documents and implementation steps will follow, including site plans and project phasing. The agreements require subsequent administrative steps, permits and capital planning to realize the project’s public infrastructure commitments.
