Development District Facilitates Access to up to $65 Million for Improvements
The City of Sunrise City Commission recently voted to establish the Metropica Community Development District. The approval will permit the MCDD to obtain funds to deliver community development services and facilities.
“The development of the Metropica Community Development District, allowing up to $65 million in bond financing for infrastructure development, is a major step forward in the process of bringing the whole of Metropica to life,” said Joseph Kavana, CEO of Metropica Development, LLC.
Metropica, located at 1800 NW 136th Avenue in Sunrise, is one of the largest remaining contiguous mixed-use development sites in South Florida. When completed, the $2 billion community will have up to 2,500 residential units, 240 hotel rooms, 480,000 square feet of retail space, and 650,000 square feet of office space.
Avison Young’s Florida Capital Markets Group and Karson & Co have been tapped to structure a joint-venture equity partnership for Metropica.
Development District Facilitates Access to up to $65 Million for Improvements
Development District Facilitates Access to up to $65 Million for Improvements
The City of Sunrise City Commission recently voted to establish the Metropica Community Development District. The approval will permit the MCDD to obtain funds to deliver community development services and facilities.
“The development of the Metropica Community Development District, allowing up to $65 million in bond financing for infrastructure development, is a major step forward in the process of bringing the whole of Metropica to life,” said Joseph Kavana, CEO of Metropica Development, LLC.
Metropica, located at 1800 NW 136th Avenue in Sunrise, is one of the largest remaining contiguous mixed-use development sites in South Florida. When completed, the $2 billion community will have up to 2,500 residential units, 240 hotel rooms, 480,000 square feet of retail space, and 650,000 square feet of office space.
Avison Young’s Florida Capital Markets Group and Karson & Co have been tapped to structure a joint-venture equity partnership for Metropica.
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