April 4, 2020

2020 Economic Outlook

Southeast Florida - Workforce, environment, infrastructure

Mike Vogel | 12/26/2019

BUSINESS BRIEFS

REAL ESTATE

  • Longtime Boca Raton developer and property owner Crocker Partners dropped plans to redevelop its mixeduse, live-work project in Midtown Boca but says it will continue its suit against the city over its thwarting of the project.
  • 1.3 million square feet of class A office space is planned or under development in downtown West Palm Beach.
  • The Main Las Olas, Stiles’ 1.4 million-sq.-ft. work-live project with 369,602 square feet of class A office in downtown Fort Lauderdale, is scheduled to be completed in the fourth quarter.
  • This year, CenterPoint Properties projects finishing Port Everglades International Logistics Center, a 296,207-sq.-ft. project at Broward’s seaport.
  • Disney sold 26 acres west of A1A and Disney’s Vero Beach Resort parking to GHO Homes, which plans single-family homes and attached housing starting at $1 million.

EDUCATION

  • Indian River State College President Edwin R. Massey plans to retire in 2020. He has been with the Fort Piercebased college for 46 years, 31 of them as president. He leaves Aug. 31.

HEALTH CARE

  • Okeechobee Health Care Facility, a skilled nursing and rehabilitation center in Okeechobee, ranked first in Newsweek’s list of the best nursing homes in Florida. Others based in Southeast Florida that made the state top 20: MorseLife Health, West Palm Beach; Port St. Lucie Rehabilitation & Healthcare, Port St. Lucie; Solaris Healthcare Parkway, Stuart; John Knox Village, Pompano Beach; Margate Health and Rehabilitation Center, Margate; Manor Pines, Fort Lauderdale; and ManorCare Health Services-Boca Raton, Boca Raton.

SPORTS BUSINESS

  • The Florida Panthers will finance the restoration of Fort Lauderdale’s city-owned War Memorial Auditorium on the city’s east side as part of the NHL team’s $45-million project to build in the surrounding park two indoor ice rinks, one for Panthers practice and the other for community use, and a 3,000-seat concert venue.
  • Inter Miami, the Major League Soccer team backed by David Beckham, plans to complete its new complex in Fort Lauderdale early this year for its inaugural season beginning in March. The complex will house an 18,000-seat stadium and team headquarters and training facilities for its affiliate clubs and youth soccer. The team plans to play in Fort Lauderdale until it realizes its hopes of a Miami stadium.

TRANSPORTATION

  • Private passenger rail company Virgin Trains started construction on its $4-billion, 166-mile link from West Palm Beach to Orlando in 2019. Service will begin in 2022. Meanwhile, Virgin is working on adding stations in Boca Raton, Aventura and PortMiami, which the line says could double ridership, and is in talks about adding a station on the Treasure Coast.
  • Spirit Airlines, Broward’s homegrown airline, will move its 1,000-employee headquarters in 2022 from Miramar to a new campus near Fort Lauderdale-Hollywood International Airport, investing $250 million and adding 225 jobs. The new campus, up to 500,000 square feet, will be at Dania Pointe, Kimco Realty’s new restaurant, retail and residential project in Dania Beach. State and local incentives total $2.25 million. Spirit employs 4,000 in South Florida.

TOURISM

  • Late this year, Marriott will open its 174-room AC hotel at Sawgrass Mills, developed in association with Norwich Partners. Sawgrass, a 2.3 million-sq.-ft. shopping destination, is undergoing a renovation.

    Tags: Southeast, Economic Outlook, Feature

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