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| 2302 E. Atlantic Blvd., 2nd Floor Pompano Beach, FL 33062 | 954.695.0754

Pompano Beach Pier Project

October 21st, 2015

Agency

Pompano Beach Community Redevelopment Agency

Services Provided

Economic Development
Government Management
Public-Private Partnership
Real Estate

Address

100 W. Atlantic Blvd.
4th Floor
Pompano Beach, FL 33060

Performance Period

2011 – Present

Pompano Beach Pier Project & Public-Private Partnership

Issue

The Pompano Beach CRA determined that attracting private sector investment to a redevelopment area known as the “Pier Site” was a top priority. The 6 acre parcel referred to as the Pier Site, located on Pompano Beach Boulevard consisted of a surface parking lot and other civic buildings. The site was situated in a prime location next to the beachfront area that was about to undergo a $10 million major streetscape, beach beautification and dune restoration project. The CRA/City recognized the value in advertising the site to attract a reputable developer that could bring new commercial development to the blighted beach area, now slated for revitalization.

Strategy

The process chosen to secure a private sector development partner was an RFQ, a Request for Qualifications. This process, unlike an RFP (Request for Proposals), is designed to first identify a qualified development team and secondly, allow time to further develop a proposed concept. The qualification of the development team was of utmost importance, therefore the selection committee was seeking to identify a development partner that has owned and operated similar type projects, has designed and developed similar type developments, acted as a developer/owner who has been responsible for sales, leasing and marketing of the development, and demonstrated their ability to finance developments they own and operate.

In 2010, the CRA issued a request for qualifications (RFQ) for the development of the 6-acre parcel referred to as the Pier Site located on Pompano Beach Boulevard. One response was received and the selection committee deemed that proposal incompatible with the pier development objectives. At the time the first RFQ was issued, the real estate market was in a depressed state and financing for redevelopment projects was practically impossible to obtain. Staff reissued the RFQ in September of 2011 and received two proposals for the site. RMA principals then began negotiations on the business terms for the proposed development of the site with the most qualified firm.

Outcome

The selection committee ranked Pompano Pier Associates, L.L.C., (PPA) as the top candidate. PPA is a firm whose members have been responsible for numerous noteworthy redevelopment projects including commercial, residential and mixed-use projects. PPA estimates the new development will bring a potential $40 million in private investment to the City and key tenants have already been secured.

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