The four developers who teamed up to pay $73 million for the Galleria Mall on Sunrise Boulevard and the Intracoastal in Fort Lauderdale moved forward with plans under the state’s Live Local Act to redevelop the site with 3,144 apartments spread over nine towers. Of that number, 1,273 would be set aside for workforce housing, which allows the total project to receive expedited administrative review under Live Local, bypassing public hearings and approval by elected officials. The buyers were GFO Investments of Miami, InSite Group in Fort Lauderdale, Atlas Hill Real Estate and Prime Finance. New York-based Keystone-Florida Holdings sold it. Given Broward’s cost of living, a tenant can earn up to $115,440 and still qualify for workforce units.
RECREATION
- Palm Beach Gardens-based golf course design and development firm Nicklaus Cos. sought Chapter 11 bankruptcy court protection to reorganize after being hit with $50 million in defamation damages in a suit filed by founder and golf legend Jack Nicklaus. The company is appealing the verdict.
- P1 Motor Club anticipates its Treasure Coast Motorsports Complex will see the opening of its first circuit in March. The club says it has signed 200 members and 80% of trackside garages have been reserved. The 650-acre site will feature multiple car and cart circuits, a clubhouse, some residential, a business park and trackside garages with living space.
LAYOFFS
- Memphis-based digital banking services company Bambu Systems closed its West Palm Beach office, laying off 141. The company focuses on the immigrant market.
- Minnesota-based Marvin Lumber and Cedar Co., parent of Marvin Windows & Doors, is closing its West Palm Beach factory and laying off 167.
- Ann Arbor, Mich.-based RealTruck is closing the Pompano Beach factory of its truck bed cover unit, Rock-N-Lock, laying off 73.
RESEARCH
- Florida Atlantic University, looking to grow as a national leader in neuroscience, expanded its NeuroInnovate Center and says it’s become the first on the globe to integrate advanced MRI and focused ultrasound tech for preclinical and clinical imaging into a single platform for research. FAU says this will accelerate development of non-invasive treatments for Alzheimer’s, Parkinson’s, cancer and other ills. Says Dr. Michael Dobbs, chair, Clinical Neurosciences Department, “The implications for disorders like Alzheimer’s and Parkinson’s are profound.”
BIOTECH
- After being awarded $300,000 in incentives from the city, BioStem Technologies will move to Boca Raton with 100 jobs paying $81,000 on average. The company, previously based in Pompano Beach, makes placental-derived products for advanced wound care.
- Pharma manufacturer Pherros Biosciences is expanding a Deerfield Beach plant and expects to employ 85 in high-skill jobs by year-end 2026.
Making Waves
Lifelong boater Paulee Day, a lawyer-turned-executive, took the helm of Fort Lauderdale-based national marine retailer West Marine in November. She’s the first woman CEO to lead the company since its founding in 1968. A native of Massachusetts, she came to Florida at age 8 and returned after law school.
Snapshot: West Marine has 200 stores in 34 states and Puerto Rico, plus e-commerce. It employs 2,500 nationally, of whom 756 are in Florida, including 146 at the corporate headquarters.
That was fast: Started at West Marine as chief legal and HR officer in 2022. Became chief administrative officer in January 2024 and chief operating officer and corporate secretary in February 2025.
Before that: Fifteen years at Clearwater-based MarineMax as EVP, chief legal officer and assistant secretary.
Service and honors: Board member of the American Boat and Yacht Council and the Florida Chamber of Commerce. Boating Industry magazine named her among its “Women Making Waves.”
Education: Vanderbilt University, bachelor’s and MBA magna cum laude and Phi Beta Kappa; Indiana University, JD, magna cum laude.
Personal boat: A Regal, though she’s shopping for a new one.