Five years after completing its first condominium tower, Metropica Development is moving forward with the next phase of its large-scale project in western Broward County. CEO Joseph Kavana announced at a ceremonial groundbreaking this week that construction will begin in October, with new partners joining the effort.
The project, which has an estimated value of more than $1.5 billion, is planned to include over 3,000 condos and apartments, 650,000 square feet of office space, 485,000 square feet of retail space, and two hotels on a 65-acre site. Poag Development from Memphis will oversee the retail portion while Boca Raton-based Waypoint Residential will manage the residential phases.
Metropica Development President Bernard Werner stated that Poag and Waypoint are responsible for about $300 million worth of development. Chris Moore, managing director at Waypoint Residential, said his company is committed to building at least 900 residential units over the next several years.
Kavana has faced multiple challenges since assembling the site in the early 1990s and obtaining approvals for the mixed-use development in 2014. Only one tower—Metropica One with 263 units—was completed by 2020. In 2024, Kavana sought joint venture partners through brokers. Last year, Sunrise city officials approved a density increase allowing costs to be distributed across more residential units.
“This is my work, and we are going to keep fighting the same way we fought over the last 15 years to try to make this a reality,” Kavana said during Tuesday’s event.
The upcoming phase is being called the first phase by Kavana and is expected to be operational within three years. Plans include nearly 1,000 luxury apartments and more than 150,000 square feet of retail space. Additionally, about 50,000 square feet of condo office space will be built above retail areas. The retail offerings are intended to complement nearby Sawgrass Mills mall and will focus mainly on restaurants, specialty shops and entertainment venues.
Kavana told The Real Deal that Metropica Development sold portions of land to Poag and Waypoint but did not disclose purchase prices. Metropica Development remains responsible for infrastructure work and retains rights to participate in the joint venture.
“All the stars are aligned right now for us to be able to carry forward. We were ready to do this back in 2020 when Covid hit, and we had just finished the first tower,” Kavana said. “We were ready to start with the retail. We had to wait for the right time.”
