Developer Art Falcone’s Fashion Mall redevelopment project in Plantation finally has a name: Plantation Walk.
The $350 million project, one of the largest mixed-use projects in Broward County, will replace the now-defunct Plantation Fashion Mall, a 32-acre complex at 321 North University Drive. Falcone’s Encore Capital Management bought the mall out of bankruptcy at an auction in 2015 for $37.7 million, and scored approvals for the two-phased development in December.
Falcone plans to build 700 rental apartments called “The Rise”, about 250,000 square feet of office space and another 200,000 square feet of retail. An existing 160,000-square-foot office building is being renovated and is slated to open by December, and the 263-room Sheraton hotel is undergoing renovations as well. It remains open.
Encore plans to finance the project’s initial stages with its own capital and seek outside funding later on if needed. The redevelopment will take up to four years to complete, Falcone previously said. – Katherine Kallergis