A group made up of 13th Floor Homes, Rosemurgy Properties, Schmier Property Group, and Giles Capital Group has purchased a 170-acre site in Coconut Creek for $68 million. The property is intended for development into a master planned community expected to exceed $1 billion in value.
The land, located on the west side of Lyons Road between Wiles Road and West Sample Road, was sold by Johns Family Partners. The family has owned the property since the early 1900s.
Financing for the purchase came from CIBC Bank USA. Legal representation was provided by Nelson Mullins. The new project, called Mainstreet at Coconut Creek, will feature 80,000 square feet of retail space anchored by a grocery store. Residential plans include 792 apartments, 414 townhomes, 148 villas, and 296 condominiums across twelve city blocks.
Public amenities are also part of the plan: “The project will also include multiple acres of public green space, with a 14-acre wetland preserve and more than six miles of biking and exercise trails,” according to the press release.
In 2024, the Coconut Creek City Commission approved a site plan for phase one. This first stage consists of six four-story condominium buildings with between sixteen and twenty-four units each on nearly five acres. Construction is scheduled to begin later this year with completion anticipated in 2027.
13th Floor Homes operates out of Fort Lauderdale and is led by Michael Nunziata; it is a subsidiary of Miami-based 13th Floor Investments under Arnaud Karsenti. The other partners are based in Boca Raton.
Rosemurgy Properties’ CEO Alex Rosemurgy has overseen more than 2.5 million square feet in real estate projects; its current pipeline throughout Palm Beach and Broward counties exceeds $1 billion. Schmier Property Group is headed by Brian Schmier and has developed over 2.5 million square feet in south Florida commercial properties. Rick Giles leads Giles Capital Group as partner and investor on projects valued at more than $730 million with another $360 million planned.
Schmier Property Group and Giles Capital Group have previously partnered with Rosemurgy Properties on Uptown Boca—a mixed-use complex covering thirty-eight acres in Boca Raton.
