In addition to its roughly $25 million sports park complex in Pompano Beach, Azur Equities is adding a 15-unit townhouse community to its list of planned projects in the city.
The company recently submitted an unsolicited proposal to build Patagonia, a townhome community on publicly owned land along Northwest Seventh Avenue and Dr. Martin Luther King Jr. Boulevard with joint venture partner Hadar Homes.
Plans for the townhome community include 1,800 square feet of commercial space and three-bedroom, two-bathroom townhomes spanning about 1,450 square feet, each. The two-story townhomes will also feature one-car garages.
The Sun Sentinel first reported news about the proposal.
The developer intends to lease the townhomes for about $1,700 a month, according to its proposal with the city. Azur Equities and Hadar Homes want to invest about $3.2 million into the development.
The land (eight separate parcels) is currently owned by the Pompano Beach Community Redevelopment Agency. The developer is requesting the CRA donate the property. The area is part of a master-planned innovation district being developed by the city in an effort to renovate its downtown.
Azur is a private real estate fund based in Plantation. Earlier this year, it received Pompano Beach City Commission approval to move forward with building SportsPark, a planned athletic complex featuring a stadium, clubhouse, multiple soccer fields and residential units for players.
The residential development, dubbed SportsPark Residences, will consist of about 70 units for players, coaches and employees at SportsPark. Certain details for the project still need Broward County commission approval, Azur principal Franck Gotsman said.
Gotsman is co-owner of the semi-professional soccer team Floridians Football Club. The proposed athletic complex is set to rise on about 10 acres of city-owned land along Northwest 31st Avenue. Construction is slated for the spring of 2019.