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HomeMy WebLinkAboutCity of Tamarac Resolution R-2005-140Temp Reso #10754 — June 15, 2005 Revision No. 1 — June 24, 2005 Page 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2005- 1 L4a A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, ADOPTING THE FINDINGS OF THE "57T" STREET/MAIN STREET STUDY" DOCUMENT (CASE NO. 11-MI- 05); PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Tamarac, Florida, values its diversity and healthy mix of civic, commercial, light industrial, institutional, office, recreational and residential activities and uses; and WHEREAS, the City of Tamarac, Florida desires to adopt sound methods to encourage a sense of place, continuity and unity throughout the community through the establishment of defined activity center that reflects these needs; and WHEREAS, the City Commission of the City of Tamarac considers the potential creation of a Main Street a top priority and funds were made available to conduct the study on the feasibility of implementing such a project; and WHEREAS, at its meeting of February 12, 2003, the City Commission approved Resolution No. R-2003-31 authorizing the execution of an agreement with Civic Design Associates for the preparation of a feasibility study to determine the appropriateness of establishing a Main Street along a portion of NW 57th Street; and WHEREAS, the results of the 57th Street/Main Street Study were presented at the City Commission Strategic Planning Retreat on May 29, 2003 and the 57th Street/Main Temp Reso #10754 — June 15, 2005 Revision No. 1 — June 24, 2005 Page 2. Street project was subsequently incorporated as a key component of the City's Strategic Plan; and WHEREAS, the Feasibility Study was completed on September 8, 2003 by Civic Design Associates entitled, " 57th Street/Main Street Study" (attached hereto as Exhibit "lip) for the City of Tamarac; and WHEREAS, the Director of Community Development recommends that the City Commission adopt the document, "571h Street/Main Street Study"; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interests of the citizens and residents of the City of Tamarac to adopt the findings of the "57th Street/Main Street Study" document. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: The City Commission of the City of Tamarac, Florida, hereby adopts the findings of the "57th Street/Main Street Study" document. SECTION 3: All resolutions or parts of resol-uttons in conflict herewith are hereby repealed to the extent of such conflict. SECTION 4: If any clause, section, other part or application of this Resolution Temp Reso #10754 — June 15, 2005 Revision No. 1 — June 24, 2005 Page 3 is held by any court of competent jurisdiction to be unconstitutional or invalid, in park or in application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5: This Resolution shall become effective immediately upon its adoption. PASSED, ADOPTED AND APPROVED this 13 day of J v 1J , 2005. JOE SCHREIBER MAYOR ATTEST: r ti RECORD OF COMMISSION VOTE: MARION SWE SON, CMC MAYOR SCHREIBER CITY CLERK DIST 1: COMM. PORTNER DIST 2: V/M TALABISCO DIST 3: COMM. SULTANOF DIST 4: COMM. ROBERTS Ir I HEREBY CERTIFY that have approved this RESOLUTION as to form. UEL S. OREN N ERIM CITY ATTORNEY com mdev\u:\pats\u serdata\wpdata\res\10754reso EXHIBIT 111" TEMP RESO #10754 57TH STREET/MAIN STREET STUDY TAMARAC, FLORIDA SEPTEMBER 8. ` 003 k° k. 9, . CIVIC DESIGN AsSOCIATES LAMBERT ADVISORY. LC CITY COMMISSION Joe Schreiber MAYOR Karen L. Roberts VICE -MAYOR Beth Flansbaum-Talibisco COMMISSIONER Edward C. Portner COMMISSIONER Marc L. Sultanof COMMISSIONER of T " o410 Jeffrey L Miller CITY MANAGER Mitch Kraft CITY ATTORNEY 57T" STREET/MAIN STREET STUDY 2003 CITY OF TAMARAC T, R% REPORT PREPARED BY: CIVIC DESIGN ASSOCIATES LAMBERT ADVISORY, LC CONTRIBUTING EDITORS: J. CHRISTOPHER KING, DIRECTOR OF COMMUNITY DEVELOPMENT WAYNE THIES, PLANNING AND ZONING MANAGER CLAIRE LYTE-GRAHAM, AICP, SENIOR PLANNER Table of Contents I. Executive Summary II. Existing Conditions III. Market Assessment IV. Development Standards V. Conclusions 57th Street / Main Street study I Tamarac, Florida 1. Executive Summary The purpose of this study is to evaluate the feasibility of introducing a "Main Street" style of town center development in a designated area of the City of Tamarac, generally located north of Commercial Boulevard between NW 94th Avenue and University Drive, and focused on NW 57th Street, located one block north of Commercial. This study area was chosen for several reasons, among them an existing concentration of public and civic uses as well as a reasonable availability of vacant developable property. This study is the result of a desire expressed by the Tamarac City Commission to introduce a more lively "town center" atmosphere as a focus to community life and a means of improving the amenities available to the surrounding neighborhoods. This desire parallels similar tendencies in a number of contemporary communities, some of them nearby. The suburban development pattern, predominant in the city and surrounding areas, while offering a pleasant home life, has proven wanting in providing lifestyle amenities such as an active street life, a mix of uses within close proximity, and the type of more urbanized social environment that fosters a sense of community. This study consists of four general tasks, summarized here and covered in greater detail in subsequent sections of this report: 1. An evaluation of existing conditions in and around the study area. A market assessment that analyzes demographic trends, summarizes the existing supply of various uses in the surrounding region, and evaluates the potential market demand for future development by type. I A prototype development scenario for the study area designed to further test the feasibility of the town center concept. 4. Conclusions and recommendations. Existing Conditions The study area is located in the northwestern part of Broward County, an area characterized by low - density development segregated by use and highly dependent on the use of automobiles. The study area is bounded on the south by Commercial Boulevard, a regional arterial that carries significant vehicular traffic and is lined by a variety of commercial uses. Residential subdivisions are once removed from the major arterials and are insular by design. They tend to cluster housing of similar types and of similar value, adding to the sense of functional segregation. The study area itself contains a significant concentration of vacant parcels, as well as other properties that could become redevelopment candidates in the not -too -distant future. Although there are a number of parcels fronting on Commercial Boulevard, 57th Street, located one block north of Commercial was selected as the focus of tlus study. A much quieter street, it could be more easily developed as a pedestrian environment, although it suffers from several drawbacks. Chief among these is that is forms the back side of many of the development parcels that face onto Commercial, while a considerable length of the north side is bounded by a thick and opaque hedge of landscaping that defines the back side of a residential subdivision. The existing regulatory environment is designed to produce more of the type of suburban development currently found there, characterized by large setbacks, low lot coverage ratios, low densities, and ample parking requirements. 57th Street / Main Street Study I Tamarac, Florida 1 - 1 1. Executive Summary Market Assessment The demographic profile of the Tamarac area is shifting from one that has traditionally been dominated by retirement communities to a younger, more diverse mix. The area ranks somewhat below other surrounding areas in household income, although it is stable and improving. The area is generally well served by commercial uses of all types. There is an ample supply of retail, ranging from regional malls to "big box" stores, to conventional strip shopping centers. This is riot a strong office market, although there is a fair amount of smaller, niche type office buildings. Hotels in the immediate area are primarily limited service hotels targeted at the budget -conscious consumer. The market opportunity here is not simply to provide more of the same as absorption rates permit, but, rather, to provide a unique environment whose draw would be based on its human, pedestrian- friendly atmosphere. This would have to be done as a deliberate concentration and coordination of development activity driven by a master plan. The concentration of vacant property here makes such a development an intriguing possibility. Development Scenario The town center concept was tested by a con)ectural development scenario that sought to use the available land and other resources to their best advantage. The primary opportunity was determined to exist west of Pine Island, where the majority of the vacant land is located. The inherent obscurity of 57th Street was resolved by using NW 91st Avenue as a gateway fronting on Commercial Boulevard, This also allows the town center to make a strong connection to the interior of the Caporella property, which has the potential of adding a critical mass of additional residential units to the mix. Infill of other parcels along 57th Street will reinforce the town center over time. The eastern portions of the study area prove to be somewhat more problematic. Although the library and community center add an important civic component to the land use inix, they are oriented toward Commercial Boulevard rather than 57th Street. Also, the north side of 57th between Pine Island and NW 79th Avenue is largely inactive, fronted by a thick landscape buffer that separates it from a residential subdivision. The far eastern end of the study area does have the potential to undergo significant redevelopment activity in the future, with the Nfidway Plaza shopping center as the key parcel. If that were to become another dense, n-dxed-use node, dien the middle part of the study area could be developed as a strong connecting link that emphasizes a pleasant, pedestrian -oriented streetscape environment that also provides access to the civic uses. The caveat is that this development scenario has to be pursued as a deliberate opportunity. Left to its own devices, property within the study area will continue to develop in a piecemeal and haphazard manner that will not support a larger vision. The potential for creating a unique and attractive environment exists, but it will require a degree of development coordination and cooperation among disparate landowners that is difficult to achieve. Conclusions and Recommendations As things currently stand, the proposed town center concept is a compelling vision, but not strongly supported by eXisting conditions. The trends are improving, however. Broward County can only continue its strong growth rate by generating enhanced development activity on the dwindling supply of available land. Certain measures can be set in place for the 57th Street study area that could support a relatively intensive, master -planned development that would gene -rate added value and become a powerful 57th Street / Main Street Study I Tamarac, Florida 1-2 L Executive Summary draw for the surrounding communities. In order to capitalize on this opportunity the City of Tamarac should: • Endeavor to create a consensus among the existing property owners within the study are to support a coordinated, master -planned vision for the area. This vision would be supported by an inherently higher potential value for the existing properties. This is the essential bargaining chip. No common vision, no added value. Establish an overlay district to govern the future development of the parcels in the study area. This overlay should be focused on leveraging the potential development value of properties in the area. Specifically, the overlay should revisit the existing provisions regarding setbacks, lot coverage, densities, parking ratios, and allowable use. It should also be focused on the architectural quality of the pedestrian environment, with particular attention to street frontage, scale, and appropriate mix of uses. • Adopt a program of physical improvements that will support the vision. Streetscape along 57th Street, as well as enhancements to the existing civic uses to make better connections to 57th Street would be important components of such a program. 57th Street / Main Street Study I Tamarac, Florida 1-3 X0 J; IREET . it :COMMERCIAL bLVD I I. Executive Summary View down NW 9P Avenue from Commercial Boulevard -- • "``�-4�, —1-6 �4�L UCI1llAU L1Urary jr - 1 r� � f y 57th Street / Main Street Study I Tamarac, Florida 1-5 11. Background and Existing Conditions Introduction The City of Tamarac is a suburban commuruity located about 10 miles west of Fort Lauderdale, Florida, It encompasses about 12 square miles and has a population of about 57,000. Traditionally known as a retirement commuruty, in recent years the average age of the population has been dropping steadily, indicating that Tamarac is becoming a more diverse and well-rounded community. Land use patterns have remained fairly unchanged from the original concept laid down during the city's initial growth period. Tamarac exhibits a fairly conventional post World -War II development pattern, characterized by low -density, segregated land uses, fairly insular housing subdivisions, and commercial uses concentrated along the major arterial roadways. The housing is a mVx of single-family detached and low -density duplex and multi -family types. This study is the result of a desire expressed by the Tamarac City Commission to introduce a more lively "town center" atmosphere as a focus to community life and a means of improving the amenities available to the surrounding neighborhoods. This desire parallels sitnilar tendencies in a number of contemporary communities, some of them nearby. The suburban development pattern, while offering a pleasant home fife, has proven wanting in providing lifestyle amenities such as an active street life, a MIX of uses within close proximity, and the type of more urbanized social environment that fosters a sense of community. The purpose of this study is to evaluate the feasibility of introducing such a development pattern in a designated area of the city, generally located north of Commercial Boulevard between NW 94th Avenue and University Drive, and focused on NW 57th Street, located one block north of Commercial. This study area was chosen for several reasons, among them an existing concentration of public and civic uses as well as a reasonable availability of vacant developable property. Study Area and Context The study area is depicted in Figure 2.1 and encompasses approximately 200 acres. It extends about 1.5 miles from NW 94th Avenue on the west side to University Drive on the East Side. The study area is fairly linear in form, extending along NW 57th Street, generally no more than one block on either side, although the width varies somewhat to reflect the existing pattern of land uses and available property. The study area boundary jogs to the north between NW 94th Avenue and Pine Island Road to include a large vacant tract almost entirely surrounded by drainage canals. This site, also referred to as the Caporella property, is about 45 acres in size, and has only two crossing points over the canal, one of which is NW 91 st Street, which gives the property access from both Commercial Boulevard and NW 57th Street. Although it is once -removed from the commercial properties between Commercial and 57th Street, this property has been included -in the study area because its size could accommodate a master -planned development of sufficient importance to set the tone for future redevelopment in the rest of the study area. Long vacant, it has recently been placed under contract to a homebuilder who plans to build a significant concentration of medium -density townhomes, The study area is not located near the geographic center of Tamarac; 'indeed, it abuts a large industrial park on the west that forms the extreme southwest portion of the city. Commercial Boulevard forms the southern boundary of Tamarac in the vicinity of the study area. The site is thus not centrally located within the city, but this is not really relevant since the city boundary is not a meaningful physical feature. The cities of Lauderhill and Sunrise to the south exhibit the same basic development pattern as Tamarac, so that the proposed town center development would be able to draw from all directions equally. In fact, this could be a net benefit for Tamarac, since residents from outside the city would generate economic activity within the city limits. 57th Street / Main Street Study I Tamarac, Florida 11 - I 11. Background and Existing Conditions The areas adiacent to the study area are predominantly residential, with the exception of the aforementioned commercial industrial park to the west. Immediately to the west of 94th Avenue, at the study area boundary, are Challenger Elementary School and Millennium Middle School, both recently constructed. The south side of Commercial Boulevard contains some vacant land, as well as some conventional highway oriented commercial uses. The north side, all within the city of Tamarac, is residential, mostly single-family detached, generally smaller houses selling for around $150,000. In the area roughly between Pine Island Road and NW 79th Avenue, the residential development extends to the north side of 57th Street, although this is treated as a "back side" to the subdivision. Other than the subdivision entrance at NW 84th Terrace, the subdivision edge is defined by a hedge of dense planting along 57th Street designed to separate and screen the subdivision from the commercial development on the other side of the street. )~figure 2.1 — The study area Typical photos of existing conditions are shown on pages 1I-2 —11-4. 57th Street I Main Street Study I Tamarac, Florida 11 - Z 11. Background and Existing Conditions 57th Street / Main Street Study I Tamarac, Florida 11 - 3 No Text 11. Background and Existing Conditions Urban Pattern The general development pattern is characteristic of virtually all of Broward County development west of Interstate 95. Most of this area was developed after 1950, in a manner designed to make individual homeownership available to the widest possible number of people, as long as they had access to a car. Major arterial roadways such as Commercial Boulevard and University Drive act as the primary regional thoroughfares, and are generally spaced about 1 mile apart_ There may be smaller collector streets between them, but they generally cannot be relied upon to continue uninterrupted for any great distance. This large-scale grid of streets creates a number of interstitial parcels that accommodate residential subdivisions, sometimes with commercial uses along the edges, if they front on sufficiently busy streets_ The residential subdivisions tend to be insular in nature, with few access points and an internal street network that is characterized by loop streets and cul-de-sacs rather than a traditional grid of through streets. A network of drainage channels that have few crossing points reinforces the insularity of the development pattern. The effect of this pattern is to concentrate traffic on the major arterials, with the neighborhood streets useful only for local access to one's home. While the internal streets are quiet and relatively traffic free, the arterials can be quite congested, particularly at peak hours. In the immediate study area, one can see a marked drop-off in traffic volume as one moves west along Commercial. As shown on Figure 2.2 traffic volumes exceed 50,000 cars per day east of University, drop to 35,000 between University and Pine Island, dropping even further to 24,000 cars per day west of Pine Island. This is a natural result of the diminishing tributary area for the traffic as one moves west, less than two miles west of the study area, the Sawgrass Expressway, moving north -south along the edge of the Everglades, defines the limit of the developed area of Broward County. Figure 2.2 -- Existing traffic volumes Existing Uses The property within the study area is generally commercial, consistent with the existing zoning. There are some parcels zoned for medium -density multi -family uses, but these remain vacant today. Commercial development has concentrated along Commercial Boulevard and University Drive, which offer the level of traffic volume generally sought after by commercial uses. There remains a fair amount of vacant property among the commercially zoned parcels, indicating that this area has not yet fully matured as an urban development. The normal pattern for these growth areas is that the residential uses fill in first, with commercial uses developing once a reasonable market is established. 57th Street / Main Street Study I Tamarac, Florida 11 - 5 If. Background and Existing Conditions Figure 2.3. — Existing land use There are also several civic buildings located along Commercial Boulevard between Pine Island Road and NW $4th Terrace. The City of Tamarac has a sizeable Community Center there, a fairly new and high - quality facility, just to the west of the Community Center, and new library is nearing completion. Together, these will form a significant concentration of civic uses that should bring considerable activity into the area. In the manner of most other buildings along this corridor, these buildings face Commercial Boulevard rather than 57th Street. Regulatory Framework The land within the study area is zoned primarily for commercial uses and various types of multi -family, the latter on tracts located north of 57th Street. The parcels located between Commercial Boulevard and 57th Street are primarily designated as B-2, with some B-1. The zoning regulations are similar for the various types of commercial zones permitted here, although B-2, Planned Commercial Business, is slightly more restrictive in terms of lot size and maximum coverage. For the sake of brevity and simplicity, only the B-2 commercial regulations will be summarized in detail here. Properties zoned B-2 are located along a major arterial, and are required to be a minimum of 1 acre in size, with a minimum width and depth of 200 feet. Setbacks (or yards) are required to be a minimum of 50 feet at the front, 25 feet for an interior side, 35 feet for a corner side, and 50 feet at the rear. If a side abuts a residential use, the minimum required yard increases to 50 feet. The building footprint is limited to a maximum of 30 percent of the lot area, and the maximum height is 40 feet. B-3, General Business, requires similar lot areas and setbacks, but increases allowable height of 50 feet, with a maximum floor area ratio of 0.4. B-1 and B-6 zones are intended to encourage smaller, neighborhood oriented businesses, and, in the case of B-6, also permit accessory residential use. Both zones allow lots as small as one-half acre, as long as they have at least 100 feet of frontage. For all commercial zones, the parking regulations generally require one parking space for every 200 square feet of building area. There are specific parking ratios for specific types of businesses, in some cases requiring even more parking, as for a doctor's office, but 1 space per 200 square feet seems to be the prevailing minimum requirement. Residential parcels in the study area are zoned U!1-5, RNI-10, or R4-A, described as either a Planned Apartment District or Multi -Family Residential District. Density is fairly low, limited to 10 units per acre. Uses are limited to residential although RNI-5 allows for a house of worship or a parochial school. R4-A also allows for small doctor's or dentist's office and rooming houses of 4 rooms or fewer. Setbacks are generally 50 feet from a road right-of-way, although R4-A may reduce the setback to 25 feet. Various bulk 57th Street I Main Street Study I Tamarac, Florida 11 . g 11. Background and Existing Conditions regulations limit the dimensions of individual buildings, separations between buildings, and overall height, generally in keeping with the expected massing of suburban apartment complexes. There are, of course, numerous other provisions in the Land Development Regulations, but the ones summarized above are the most influential 'in terms of the urban form that will result. The type of development that results from these regulations may he clearly seen in the study area today and, indeed, is characteristic of much of the highway -oriented commercial development one sees generally. Buildings sit in the middle of their lots, separated from any neighboring buildings by large open spaces generally occupied by surface parking, Visitors to these buildings drive to them, and drive from one building to another, even if they are located fairly close together. It is not a particularly urban or pedestrian -friendly experience, regardless of how well the pedestrian path is landscaped or appointed. The current Tamarac Comprehensive Plan is consistent with the existing zoning. The Future Land Use Plan contemplates commercial development along Commercial Boulevard up to 57th Street, with a mix of commercial and multi -family residential north of 57th. Development Potential The development potential for the study area is based on two factors. The supply side is a function of the available developable property and the type of development that is permitted under the current regulations. The demand side is a function of the area's demographic profile, the current absorption rates for various land uses, and the potential for a high -impact development to increase the,area's competitive position in the real estate market. The demand side is considered in detail 'in Section III of this repoM in the market assessment conducted by Lambert Advisory. The supply side is discussed below. The 57th Street study area was no doubt selected for this analysis due to the large amount of vacant parcels within its boundaries. A closer look at the inventory of available vacant land shows that there are variations in the pattern, with most of the vacant land concentrated west of Pine Island Road. A list of available vacant parcels is shown in Figure 2.4. The location and extent of the vacant parcels is also indicated in graphic form in Figure 2.5. The vacant lots arc indicated with the yellow toned overlay. Another potential factor affecting the supply of developable property is redevelopment of existing older, marginal buildings, As vacant parcels are developed and land values gradually rise, there will be increasing pressure to redevelop certain properties. Some of them could redevelop 'in the near future, but it is more likely that this activity is at least ten years away. Nevertheless, there are several candidate sites in the study area that should be considered as potential redevelopment tracts, Figure 2.5 also indicates, with a red - toned overlay, parcels that are currently developed but that might become redevelopment parcels. The total amount of vacant property within the study area is approximately 85 acres. Of this, the great majority, or about 74 acres, is located between NW 94th Street and Pine Island Road. This is, of course, primarily concentrated in the 45-acre Caporclla tract, although there is also considerable vacant land with frontage on Commercial Boulevard. There is also a potential 26 acres of property that could be redeveloped in the next 10 to 15 years. This property is primarily cast of Pine Island, and concentrated in the existing Midway Plaza shopping center. VAiile this shopping center has undergone recent renovations, a successful town center development within the study area could add greater value to this site, strategically located on University Drive. Being a large, contiguous site, it would be a candidate for redevelopment in a more intensive, n-�ixcd-use design that would significantly boost the development yield. The other redevelopment sites are smaller, but occupied by older buildings that will continue to depreciate as the quality of the surrounding development improves. 57th Street / Main Street Study I Tamarac, Florida 11-7 11. Background and Existing Conditions VACANT LOT INVENTORY Vacant Parcels Lot Number Location Zoning Area (Acres) V1 NW 94th Ave North of School B-2 4.20 V2 East Side of 94th Ave B-2 4.00 V3 East Side of 94th Ave B-2 2.30 V4 Caporella-NW RM-10 12,42 Caporella-NE RM-5 4.40 Caporella•SE RM-10 13.30 Caporella-SW R-4A 12,00 V5 North side of NW 57th Street B-2 1.50 V6 Betw. Commercial & NW 57th Street -West of Pine Island Rd B-6 1.00 V7 Betw. Commercial & NW 57th Street -West of Pine Island Rd B-2 4,50 V8 Betw. Commercial & NW 57th Street -West of Pine Island Rd B-2 1,30 V9 Betw. Commercial & NW 57th Street -West of Pine Island Rd 8-2 0.65 V10 Betw. Commercial & NW 57th Street -West of Pine Island Rd B-2 0.65 V11 Betw. Commercial & NW 57th Street -West of Pine Island Rd B-2 2,00 V12 West of Pine Island road RM-5 2.85 V13 West of Pine Island road B-2 6,54 V14 Betw, Commercial & NW 57th Street -East of Pine Island Rd S-1 0.65 V15 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-2 1,70 V16 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-2 1,30 V17 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-2 0,65 V18 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-2 0.65 V19 Betw, Commercial & NW 57th Street -East of Pine Island Rd B-2 0.65 V20 Tuscany, North of 57th Street B-2 6.10 85.31 Figure 2.4 t Parcels Lot Number Location Zoning Area (Acres) R1 North West Corner 57th Street and Pine Island Road B-6 2.90 R2 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-1 1.19 R3 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-1 1.26 R4 Betw. Commercial & NW 571h Street -East of Pine Island Rd B-2 1,32 R5 NW 57th Street and NW 79 Ave B-2 18.36 R6 Betw. Commercial & NW 57th Street -East of Pine Island Rd B-1 0.65 25.68 Figure 2.5 57th Street / Main Street Study I Tamarac, Florlda 11 - 8 11. Background and Existing Conditions Land Values Currently, asking prices for properties in the study area vary from 5 to about 12 dollars per square foot. Properties with frontage on Commercial Boulevard command the highest prices, ranging from $10 to $12 per square foot, while values generally decline as one gets further from a major traffic arterial. The 45-acre Caporella property recently sold for a price reportedly in the range of $8 to $9 per square foot; though it is relatively isolated, the fact that it is a large contiguous piece makes it relatively more valuable. With strong population growth projected to continue in Broward County, and the supply of available developable land rapidly diminishing, land costs are likely to continue rising. The increase in value will support higher development intensities, but only if the development regulations permit the higher intensities. Constraints and Opportunities An evaluation of the existing conditions in the study area indicates that a proposed town center concept could be feasible. A detailed assessment of the market conditions in the area is presented in Section III of this report, while Section IV explores some possible development scenarios in order to test their feasibility. Based on the existing conditions in place, the following positive and negative aspects seem to suggest themselves, Constraints 1. The physical location of the town center seems to have been selected more for the availability of land rather than as a natural center of activity. The study area is long, narrow, and asymmetrical. 2. 57th Street is a fairly minor street and does not extend beyond the study area to the west. It is also illegal to connect straight across Pine Island Road. 3. The surrounding area is decidedly suburban and car -oriented in nature. A pedestrian, mixed -use town center development would be an anomaly here. 4. The existing regulatory environment essentially precludes the type of dense, pedestrian -scaled mixed -use environment implied by a town center. 5. The block between Commercial Boulevard and 57th Street is relatively shallow (about 300 feet.) This makes it difficult to front both streets with meaningful and active frontages. Developers will typically select one side as the principal frontage, and this will most likely be Commercial due to the much higher traffic volume. 6. The north side of 57th Street between Pine Island and NW 79th Avenue, backing up to a subdivision, is essentially inactive with little prospect for change. 7. The largest single tract (the Caporella property) is somewhat removed from the potential center of activity. It has been sold in advance of the conclusion of this study, and may not be developed to the greatest advantage. 8. The area demographics are somewhat below the desired level for the Unix of uses generally found in a town center development, although they are improving. 57th Street / Main Street Study I Tamarac, Florida 11 - 9 11. Background and Existing Conditions Opportunities. 1. The contrast between the town center and the surrounding suburban environment could be seen as a welcome relief 2. There is a significant concentration of vacant property in this area that could amount to a critical mass to support such a development. I The restrictive regulatory environment is an opportunity to introduce incentives targeted to promoting favorable development patterns. 4. Land costs are relatively low, particularly if higher development intensities can be achieved. S. Certain properties with redevelopment potential could help to reinforce the initial phase of development activity. G. A master plan that coordinates the proposed development on the various parcels could add value beyond the sum of the individual developments. The town center development is studied in greater detail in Section IV. The study of a conjectural development proposal is used as a means of addressing the constraints and leveraging the opportunities. 57th Street / Main Street Study I Tamarac, Florida 11 - 1 p 111. Market Assessment The economic potential and viability of the 57th Street / Main Street concept was an integral portion of this study. Lambert Advisory, working under subcontract to Civic Design Associates, conducted an independent market assessment as part of this study. The market assessment report is included following this page. The market assessment consists of several components: • A demographic profile of the city and: the surrounding market areas; • Real-estate overview by use; • Demand analysis by use. A summary of the findings and conclusions is included in an Executive Summary that forms the first part of the report. Following that is detailed supporting information on each of the three components of the report. 57th Street / Main Street Study I Tamarac, Florida City of Tamarac Northwest 57`k Street Corridor City of Tamarac Preliminary Master Plan for the N.W. Seth Street Corridor Market Assessment Executive Summary Lambert Advisory has completed a Market Assessment for the City of Tamarac to assist the City and its planning consultants (Civic Design) in identifying opportunities associated with a (re)development of the N.W. 57`h Street corridor, principally between University Drive and N.W. 94th Avenue. The work completed includes an analysis of economic, demographic, and real estate market conditions that promote development within the corridor. The market analysis can be utilized to determine the magnitude of any (re)development opportunity as well as used as a basis to determine certain implementation and design guidelines that may be required to support certain development efforts. The methodology for supporting the area's development opportunities included analyzing the current and future demand for key real estate uses including retail/entertainment, residential, office, industrial, and hotel. The analysis considers regional economic and demographic trends, inherent market strengths and weakness of the area and surrounding areas, as well as competitive implications for commercial real estate activity in and around Tamarac. Based upon the economic and market analyses undertaken by Lambert Advisory, the following provides a summary of notable findings that support economic development opportunities for the corridor, followed by a summary of the potential development parameters for both a short-term (5 to 10 years) and longer -term (10 to 20 years) period. Economic Overview The market analysis indicates that Tamarac is situated within in an area that is experiencing modest, but steady growth both economically and demographically. Specific conclusions from economic/demographic trends include: The City's population reached 55,500 in 2000, increasing 2.2 percent annually during the past decade. Comparatively, annual population growth (on a percentage basis) during the period in neighboring communities include Margate: (2.0 percent), Coconut Creek (4.4 percent), Coral Springs (3.9 percent), and Lauderhill (1.4 percent), while Broward County's population growth was 2.7 percent during the same period. The City's population is expected to increase steadily during the next several years, albeit at a slightly more moderate pace than in the past. While the median age in Tamarac remains at a level well above that of the County (52 years versus 37 years, respectively), the City is experiencing a Lambert Advisory, LC City of7'amarac Northwest 57`h Street Corridor relatively strong shift to younger families. This is evidenced by the fact that the 0 to 24 age cohort increased from 14 percent of the population to 19 percent, while the 25 to 44 age cohort increased from 20 to 23 percent of the population. Conversely, the 65 and older age cohort declined from 48 percent to 38 percent of the population during the period. Employment growth in Broward County has been strong for the past several years, increasing by an average 16,700± employees per year from 1992 to 2002, or 2.7 percent annually. This trend is expected to continue, although at a slightly more modest pace, averaging 15,000± employees per year, or 2.1 percent annually for the next seven to ten years. The City of Tamarac employment growth during the past decade was lower than that of the County (2.0 percent); however, unemployment levels have remained low and in line with that of the broader region. Tamarac's income profile is considerably lower than that of the region, with a median household income of roughly $35,000 (versus $42,000 for the County). In comparison, Coral Springs has a median household income of $58,000, Sunrise is $41,000, and Lauderhill is $32,500. Noteworthy, though, is the fact that "real" income growth (or 1990 dollars adjusted to 2000) within Tamarac was relatively unchanged; whereas, several other municipalities in central and northwest Broward County, including Parkland, Plantation and Sunrise realized negative "real" income growth during the past decade. This is due in part to the relatively strong change in the City's demographic composition, which is the shift from a dominant retiree base to an increase in younger working families. Real Estate Market Overview Beyond a broader analysis of economic and demographic trends that will support development along the N.W. 57th Street corridor, a competitive analysis by real estate use was completed which provides some indication of the development potential for the site. Key findings by real estate use include: Retail -- The existing local retail market largely comprises neighborhood centers with goods and services that adequately serve the community. These properties are, for the most part, well occupied with moderate lease rates ($20 to $25 per square foot, net of pass -through expenses). From a regional shopping center perspective, central and north Broward County, and south Palm Beach County has more than seven regional malls and/or shopping centers; as such, it is unlikely that there will be new demand for regional malls within this market in the near term. Other larger -scale retail uses such as movie theaters are abundant, with more than 11 theaters (or more than 100 screens) within a ten mile radius of the site. Given the competitive retail environment, the retail sector will most likely remain as supporting use. If in the longer -term, a town center/main street concept is deemed viable, there may be two areas of opportunity for the study area: 1.) smaller shops and chain restaurants which prefer to be located within a "main -street" location as opposed to strip centers or stand alone facility; and, 2.) niche "big box" retailers who have not yet entirely Lambert Advisory, LC City of Tamarac Northwest 57'" Street Corridor penetrated this market. Overall, retail development will continue to move west along major thoroughfares, including Commercial Boulevard. As this presents strong opportunity for the 57" Street corridor, it is important to note that a considerable amount of available land (with desirable frontage) exists within the surrounding market area which may be a factor for both short-term and long- term opportunities. For -Sale Residential — Relative to the growth of the 1980's/early 1990's, new housing development in Tamarac has slowed during the past several years. However, the resale market continues to strengthen, increasing substantially in terms of volume and pricing. There were an estimated 1,000± home sales in 1998, increasing to more than 1,700± in 2002, Perhaps the most noteworthy trend is the value for single family homes within the City, where average home sale prices increased from $102,000± to $131,000± during the past four years, or 6.5 percent per annum. Despite the recent price escalations, though, less than 20 percent of the re -sales in Tamarac sold for more than $150,000. New (and/or planned) town -home development within the City, comprising approximately 150 total units, is reportedly offering product in the $175,000 range. Therefore, although there is demand for new housing, the market is still considered to be relatively price sensitive. Rental Residential — The Tamarac/Coral Springs/Coconut Creek rental apartment sub -market (referred herein as the greater Tamarac rental sub -market) comprises more than 32,000 apartment units and represents slightly more than 25 percent of the total inventory in Broward County. The City of Tamarac has ten upper- to luxury -end properties, with more than 2,500 units. The sub - market (as well as the City) has a reported occupancy greater than 94 percent (Fourth Quarter 2002), which is consistent with of all sub -markets in Broward County. Accordingly, the subject sub -market is achieving average rental rates of almost $970 for all unit types, compared to $925 for the County. Moreover, there have been an estimated 2,000 units new units built in the submarket within the past six years, most of which is considered luxury rental achieving average lease rates in the $1,100 range. Near -term development plans include a smaller rental complex (24-units), as well as a prospective large-scale luxury development within the City which is reported to be in the preliminary planning process. Nonetheless, demand for rental housing within the sub -market should remain strong and support steady additions to supply during the next few years. Office — Tamarac's office market (including immediate surrounding areas) comprises roughly 700,000 square feet of space. Generally, the market is stable with occupancy greater than 90 percent and average rates in the $17 to $18 per square foot (gross) range. Comparatively, the Coral Springs office market comprises roughly 1.5 million square feet (with new development proposed) and is in the 90 percent occupancy range with average rates closer to $20 per square foot (gross). Tamarac's office market appears to adequately support the professional space needs of the City and surrounding areas and, as such, is anticipated to remain as a supporting use for the community. 3 Lambert Advisory, LC City of Tamarac Northwest 57'" Street Corridor Industr*lF/ex — There is more than 1.25 million square feet of industrial and "Flex" space within the Tamarac market area. Tamarac Commerce Center (Westpoint Center) is home to several major headquarter and/or regional facilities including City Furniture's 500,000+ square foot clearance/showroom center. Presently, there is more than 150,000 square feet of space (some of which includes office) currently under construction within the park. Not including the major single tenant industrial/flex users within the market, there is approximately 600,000 square feet of multi -tenant space. Overall, the market is stable, with occupancy generally ranging from 70 to 80 percent, and average rates range between $5 and $7 per square foot (gross) for industrial space, and nearly $10 per square foot for "flex" space. The industrial/flex market is primarily positioned along the western fringes of the City and, with existing available land, will be the primary area for on -going industrial/flex growth. However, as the commerce park builds -out, it will continue to evolve as an important anchor to the N.W. 57th Street corridor redevelopment as the expanding employment base will help support retail and residential development in surrounding areas. Hotel -- The hotel market in northwest Broward County is relatively modest, with roughly 2,500 rooms in the surrounding northwest Broward County area. There are primarily five hotel properties (Comfort Suites, InSleep, Hampton Inn, Baymont Inns and Homestead Studio), or 550± rooms in the Tamarac market. There are only a few full -service hotels within the broader market area, including Hilton and Crowne Plaza in Sunrise and Marriot Heron in Parkland. The remaining balance of hotel inventory consists of limited -service and/or extended stay product. For the most part, the hotel market has maintained 55 to 60 percent occupancy during the past several years with average daily rates in the $75 to $85 range. Developmg t P� otential Tamarac's N.W. 571h Street corridor is in a position to capitalize on certain market dynamics and trends to capture demand for either sporadic redevelopment, or a specific redevelopment of critical mass for the area currently being considered for a village center/"main-street" program located along N.W. 571" Street between University Drive and N.W. 941h Avenue Road. Based upon economic, market and physical characteristics, there is an opportunity for a proposed larger -scale redevelopment concept to incite further investment and redevelopment within the area, particularly, if there is a cohesive master plan that effectively integrates commercial and residential uses. Importantly, this considers the 45-acre parcel (referred to as the Caporella property) that anchors the corridor's west - end. However, before the discussion of a proposed program for the corridor is addressed, there is one critical consideration that will be the guiding principle for the planning process: A specific (or core) redevelopment opportunity within the corridor could become the primary focal point for the entire corridors master planning process; therefore, it 4 Lambert Advisory, LC City of Tamarac Northwest 57" Street Corridor should serve as the catalyst for the success of both near- and long-term opportunities If the concept is not planned and implemented effectively, the opportunity to develop the broader area will be more traditional in nature and will not create any distinct and/or unique feature for the community. Considering this, the following provides a profile of prospective demand (by use) that may be contemplated for a redevelopment plan. This will help provide insight into the magnitude and physical elements that will guide the larger redevelopment efforts throughout the corridor. This is envisioned as a two phase process, with the initial phase being a 5 to 10 year period, and secondary phases a 10 to 20 year horizon. Initial Phase: Residential development is considered to be the basis for guiding the redevelopment effort during the short-term. Additional uses such as retail and office may be warranted; however, they are anticipated to be more moderate in scale. Nonetheless, the following provides a summary of potential redevelopment opportunities for the corridor, which is largely aimed at a specific redevelopment program: for Sale/Rental Housing: The residential component will serve a strong existing demand base for either for -sale (townhome) or rental housing; as such, housing development will be a vital component to the N.W. 57"' Street corridor redevelopment plan. Specific to for -sale product, the market strength predominately exists for single family and townhome product. Higher density (" stacked') condominium housing does not appear to be a viable use for the site. There are two primary reasons for this: 1.) During the past ten years, multi -family housing (5+ units) represented approximately only 30 percent of the new housing stock in Broward County (rental and for -sale). The majority of new for -sale housing development remains single family or townhome development. Multi -family for -sale housing is now generally limited to development in the eastern portion of the County. Buyers are typically working professionals seeking housing within proximity of the central business district, or second home buyers seeking ocean/water views that alone are a strong impetus for demand; and, 2.) Although the condominium market within Tamarac appears to be strengthening, it is primarily driven by either the retirement community, or the younger working couple that is highly value conscious. This is illustrated by the fact that condominium sales in Tamarac averaged $102,000 (or $66 per square foot) in 2002. This is well below the level required to support new development. Therefore, for -sale development within and surrounding the corridor will principally be town -home (or higher density/single family) in nature. In the effort to define market -driven demand for -sale product that may be supported within the corridor, we focus primarily on the 5 to 10 year horizon, as estimating demand and market conditions beyond this time frame becomes very difficult. Considering historical and current for -sale housing trends, including existing development plans and inventory within surrounding areas for new housing development, we anticipate demand for 500± units within the corridor during the period. Importantly, this demand level contemplates a mid to higher density town - home product that is provides competitive pricing in the $150,000 to $175,000+ range (2003 dollars). Lambert Advisory, LC City of Tamarac Northwest 57" Street Corridor In terms of rental product, the market could reasonably absorb 200 to 300 units during the next 5+ year horizon. Importantly, to provide for adequate operating economies, which ultimately supports an investment, any single rental development within the corridor would need to be at least 200 units. In aggregate, considering market demand for both for -sale and rental housing, the corridor could achieve total housing demand of 750± units during the next five to ten year period. However, with this level of density within the area, there are two critical factors that must be recognized as part of the N.W. 57th Street corridor redevelopment plan: 1.) The fact remains that the 45-acre Caporella site plays an integral role in the success of a redevelopment plan for 571h Street.. This is the case for two specific reasons: 1.) it is by far the largest property within the N.W. 57th Street corridor and as such development of the site will serve as the anchor development that will help establish a "beacon" for the 91" Avenue entrance that will draw from the heavily traveled Commercial Boulevard; and, 2.) given its proximity and density, the site will provide strong resident support for the local retail stores that will be an important part of the corridor's characteristic. Considering this, the ability to control the planning and design guidelines for the development of the 45-acre tract will be important. To this extent, the main -street concept is best preserved with a housing development that offers maximum appeal and attracts households (owner or renter) that will enhance the area's demographics and provide strong economic support to the adjoining main -street. 2.) An area of concern with regard to a redevelopment program within the corridor (whereby land is somewhat limited) will be the demand for parking — specifically as it relates to higher density rental product. Although the market may support additional housing (either in the near- or long-term), structured parking may be required to accommodate development. To this extent, the project economics of these developments to support structured parking is questionable given the potential rent/sale levels for the market, even if a premium were placed on current values. Local Shops and Restaurants (totaling at most 40,000 square feet): With support from new residential development within the corridor and broader market, there is an opportunity to provide local retail and restaurants up to 40,000 square feet. This includes possibly one (and at most two) larger national brand restaurant chain requiring roughly 7,500 to 12,000 square feet of space. While the City's demographics can support almost any level of "chain" restaurant, there are limited options for these restaurants in terms of appropriate centers to locate. Therefore, creating a small town center concept enhances the opportunity for this development. In addition to the restaurant uses, there may be an opportunity to include between 20,000 to 30,000 square feet of in -line retail space comprised of local and regional consumer good and apparel retailers, as well as some smaller national chain retailers. 6 Lambert Advisory, LC City of Tamarac North west 57 k Street Corridor Office (20-40,000 square feet)- Given the market dynamics for office space, there is an opportunity to integrate between 20,000 to 40,000 square feet of office into the redevelopment program that will serve as a supporting use. For this, the office will provide an element of day time traffic that will help support some of the local retail, as well as broaden the scale of a small town -center. The office space will most likely be professional service oriented, offering competitive rental rates for new space in the range of $18.00 to $20.00, gross. Hotel (100 to 120 room, limited service)., The existing hotel market does not appear to immediately support addition to supply. However, the ability to integrate a small limited service hotel into a cohesive redevelopment program may be warranted in in the near term. Based upon the program outlined above, the following is a summary of short-term (initial phase) development for the study area: Local Retail & Units Jt 30-40 000 .ft. 750+ units 20-40 000 N,ft. 100-120-rooms Comment Represents one Either rental or for- Professional office Limited service larger restaurant sale; mid density space ($18-$20 (7.5-12K sq.ft.) and (TH), $150-175,000 mod. gross). 20-30k in -line ran e Secondary Phases - Depending upon the success of the initial redevelopment efforts, which will have an effect on the amount of available land remaining within the redevelopment area, options for the second phase of the plan may contemplate adding a larger retail component to the town center/"main-street" component and shift the focus to a large, more regional plan. Implementation and Design Considerations The redevelopment initiative summarized above in the initial phase provides an order of magnitude for development of various uses. In order to ensure the success of the proposed plan, and primarily a specific redevelopment program, there are a few critical factors that must be contemplated by the City prior to initiating the development plan: ✓ The need to have frontage in terms of both visibility and access along Commercial Boulevard is paramount to the success of a village center/main- street that may be positioned on a secondary roadway (571h Street). Although the residential component will be planned for interior sites, the property (and theoretically the overall concept) can not be internalized and therefore must have exposure and ingress/egress from Commercial Boulevard, which is the primary artery for the area and the site. ✓ Along with the critical need for exposure, the entrance to the property from Commercial Boulevard requires a presence that not only identifies the property, but indicates its relevance to the area. This structure, building or facility should 7 Lambert Advisory, LC City of Tamarac Northwest 57' Street Corridor be of such profile that it will anchor the new development and draw shoppers and visitors off of the Commercial Boulevard corridor. ✓ Having an identity that leverages off of existing "themes" within the City, or creating a new "theme" that embraces the community and furthermore guides on -going design parameters, may be an important part of the planning and community out -reach process. However, it is important that any overriding theme for the site be carefully regulated so that development within the area is not overburdened with additional costs. A detailed profile of the research and analysis supporting the findings herein are provided within the following report. Lambert Advisory, LC City of Tamarac Northwest 57'" Street Corridor L Economic and Demographic Trends The general economic and demographic dynamics that impact the City of Tamarac and surrounding metropolitan area are strong. In order to understand the potential for development within the Northwest Wth Street Corridor, we conducted an economic and demographic overview of the City of Tamarac, additional surrounding census tracts, and Broward County. The summarized analysis is based upon research related to population, income, employment, and housing trends, Povalation Genera/ Growth Trends, From 1990 to 2000, Tamarac's population reached nearly 55,500 in 2000, or 2.2 percent per annum during the ten year period. This growth is considered to be relatively stable, albeit slightly below the County's annual growth rate of 2.6 percent during the same period. Lambert Advisory, LC City ofTamarac Northwest 57h Street Corridor Cloygt Tamarac Broward CourLty im 000 199 2000 'otal Population 44,822 55,588 1,255,488 1.623,018 Annual Avg. Change 1,077 36,753 Annual Percentage Change 2.2% 2.6% 'olat Households 22,860 27,423 527.860 654,445 Annual Avg. Change 456 12,659 Annual Percentage Change 1.8 % 2.2% Average Household Size 1.95 2.00 2,35 2.45 ladlan HH Income (2000 Va) $35,223 $34.290 $40,325 $41,691 Annual Avg. Change •0.3% 0.3% orCaplta lneome (2000 9's) $23,759 $22,243 $22,269 $23,170 Annual Avg. Change •0.7% 0.4 % ladlan Age N/A 52.9 N/A 37.8 go Cohort to24 14% 19% 28% 31% 5 to 44 20% 23% 32% 31%� 5 to 64 18 % 20% 19% 22%1 5+ 48% 38% 21% 15%i Representing roughly 10 percent of the northwest Broward County market, Tamarac is considered to be one of the more established areas within the region, with a large percentage of the residential land predominately built -out. Comparatively, annual population growth among surrounding communities in northwest Broward County include: Margate, with a 2000 population of 54,000, increased 2.0 percent during the past decade; Coconut Creek, with a 2000 population of 43,600, increased 4.4 percent, Coral Springs, with a 2000 population of 118,000, increased 3.9 percent, and Lauderhill, with a 2000 population of 57,500, increased 1.4 percent. The City's population is expected to increase steadily during the next several years; however, at a slightly more moderate pace than in the past. ')IUTR; ..I SUM' 11 I ...... IMIM 10 Lambert Advisory, LC City of Tamarac Northwest S 7" Street Corridor From a broader regional perspective, the County's population growth during the past decade has been supported by strong in -migration trends, Based upon county to county migration data from the Internal Revenue Service, Broward County averaged more than 13,000 net new migration during 1990, 1995 and 2000 with an in -migration peak of over 24,000 persons from Miami -Dade County alone during 1994-1995 following Hurricane Andrew. 1989-1990 1994-1995 1999-200P rotaf Domestic Migration Inflow 73,560 75,477 79,469 Outflow 58,526 62,134 67,039 Net Migration 15,034 13,343 12,430 Median Adiusted Gross fncome Inflow N/A 21,082 24,512 Outflow N/A 19,874 24,167 Source. Lambert Advisory and Internal Revenue Service For the past ten years, the strongest inflow into the County was from Miami -Dade County, while the largest outflow went to Palm Beach. Although regional migration is significant for Broward County, population moving from the Northeast remains relatively strong. Although the in -migration helped fuel population growth throughout the County, communities in the southern portion of the County including Miramar, Pembroke Pines and Weston captured a significant portion of this growth. This was largely the result of the ample, more competitively priced land that offered more affordable housing. In line with strong population trends, the City experienced an average increase of 1.9 percent annually in the number of households, growing from 22,800 in 1990 to 27,500 in 2000. During the past decade, Tamarac experienced a shift toward a younger, family population profile. The age cohorts with the most significant change were 0 to 24 and 25 to 44, which increased five and three percentage points, respectively. Consequently, the 45 to 54 age cohort increased only 1 percentage point and while the 55 and over group decreased 10 percentage points. Even with the continuing emergence of the younger population, the City's median age in 2000 was 52 years, still higher than that of Broward County (37.8). Concurrent with the climb in the number of households and changing household dynamics, the average household size in the City of Tamarac increased from 1.9 persons per household in 1990 to 2.0 persons per household in 2000, Overall, population in Broward County is diversifying; a study released by the Center of Immigration Studies in October 2001 indicated that there were a large number of immigrants who settled in Broward County between 1991 and 1998, with a large contingency (35.7 percent) migrating from Haiti and Jamaica. Although it is difficult to 11 Lambert Advisory, LC City ofTamarac Northwest 57" Street Corridor ascertain comprehensive data on at the municipal level, cultural diversification in Tamarac is evident; most notably, by an overall decrease in white population from 91 percent to 71 percent and an increase in Hispanic population from 5.2 percent to 14.9 percent of total. This diversification trend enhances the prevalence in cultural richness of the County and subsequently the city generating unique characteristics that differentiate the area from other geographical areas. City of Tamarac Broward County jM 000 1m 7QM0_ Race and Ethnicity While 41,048 39,668 1,027,465 1.145,287 91.6% 71.4% 81.8% 70.6% Black 1,131 5,845 193,360 333,304 2.5% 10.5% 15.4% 20.5% Asian/Pacific islander 278 823 16,499 36,581 0.6% 1.5% 1.3°/n 2.3% Hispanic 2,346 8.274 105,668 271,652 9M-RkVMM The tables and charts below illustrate the solid employment growth that occurred in Broward County during the past several years. From 1995 to 2002 total employment in Broward County increased an average 16,700 per year, or 2.7 percent annually during the period. Broward County Employment Trends 1995 to 2002 1995 1996 1997 1998 1999 2000 2001 2002. 8roward Empl. 567,100 592,001 601,333 615,060 624,729 644,347 664,869 684,414 Chng. In Empl. - 24,901 9,332 13,727 9,669 19,618 20,522 19,545 %Ann. Change 4.4% 1.6% 2.3% 1.6% 3,1% 3.2% 2.9% The services sector has done particularly well, accounting for more than 30 percent of the County's total employment growth since 1995, increasing from approximately 150,000 to 205,000 employees. The services sector benefits from the County's tourism; however, small business expansion also helps to fuel the growth. Although the County's retail space market is perceived as somewhat overbuilt, indicated by a reported overall vacancy of 13 percent, retail employers continue to hire new employees in response to both population and tourism growth. As such, the retail sector accounted for nearly 20 percent of the employment growth from 1992 to 2001 (increasing from 90,000 to 121,000 during the period). Government employment also indicates healthy gains and accounted for roughly 15 percent of total employment growth during the past nine years. 12 Lambert Advisory, LC City oJTamarac Northwest 574 Street Corridor Broward County Employment (by Industry) 1992 and 2001 aE Government Services FIRE Retail Trade wholesale Trade 2�0 Trans., Corrm & Uhltty 992 $ Ntanufactunng Construction Agricultural & Uning 0 25.000 50,000 75.000 100,000 125,000 150,000 175,000 200,000 225,000 .>OUM HOM7 uepr. Of LaDDr, tS1O! As highlighted below, the employment forecast for the County indicates a moderate slowdown; however, the overall outlook remains positive. As such, the total number of jobs in Broward County is projected to increase by approximately 15,000 jobs annually or an average 2.1 percent per year during the next several years. The services sector will continue to lead the employment growth, the majority of which will be business services. Despite the recent setbacks nationwide, technology is anticipated to play an increasing role in the region's economic landscape, as it serves as the primary connectivity point between the US and Latin America. Avg. Annual 2001 2009 Em_�._ Chng. CAGR Agricultural & Mining 8,259 10,076 227 2.5% Construction 24,284 26,445 270 1.1% Manufacturing 47,479 46,625 (107) -0.2% Trans., Comm. & Utility 61,305 73,750 1,556 2.3% Wholesale Trade 52,205 61,027 1,103 2.0% Retail Trade 121,462 138,103 2,080 1.6% FIRE 45,175 52,584 926 1.9% Services 204,186 257,479 6,662 2.9% Government 100,514 118,405 2,236 2.1% Total 664,869 784,493 14,953 2.1% Source: Florida Dept. of Labor, Lambert Advisory Relative to the City of Tamarac, employment growth has been steady during the past nine years, increasing from approximately 16,921 in 1992 to 21,020 in 2001, or 2.4 percent annually during the period. Unemployment rates, which have steadily decreased during the past several years, were impacted by the economic slowdown in 13 Lambert Advisory, LC Source: Florida Dept. of Labor, Lambert Advisory Relative to the City of Tamarac, employment growth has been steady during the past nine years, increasing from approximately 16,921 in 1992 to 21,020 in 2001, or 2.4 percent annually during the period. Unemployment rates, which have steadily decreased during the past several years, were impacted by the economic slowdown in 13 Lambert Advisory, LC City of Tamarac Northwest 57'k Street Corridor 2000/1. Overall Tamarac's unemployment rate has historically been slightly higher than that of the County. Comparative Unemployment Hoa na and Incomg Comparative Employment Income. The City of Tamarac has a moderately stable median household and per capita income. Based upon 2000 median household income, Tamarac's household income is roughly ten percent higher than that of the County's ($41,600) median household income. During the past ten years, Tamarac's median household income increased from $26,750 to $34,300, or roughly 2.5 percent per year. However, in terms of real dollars (or inflation adjusted 1990 income of $35,250), the City's income grew a total -2.6 percent. Although real growth is negative, it is important to note that for many cities within Broward County such as Parkland, Plantation, Lauderhill, Davie, and Sunrise, household income when adjusted to 2000 dollars, decreased in some cases by as much as -7.7 percent. City of Parkland $ 105,859 $ 102,624 -3.1% City of Weston N/A $ 80,920 N/A City of Coral Springs $ 57,284 $ 58,459 2.1% City of Coconut Creek $ 43,781 $ 43,980 0.5% City of Plantation $ 55,178 $ 53,746 -2.6% City of Pembroke Pines $ 48,054 $ 52,629 9.5% City of Miramar $ 47,214 $ 50,289 6.5% Town of Davie $ 48,598 $ 47,014 -3.3% City of Sunrise $ 41,603 $ 40,998 -1.5% City of Fort Lauderdale $ 35,930 $ 37,887 5.4% City of Hollywood $ 36,079 $ 36,714 1.8% City of Tamarac $ 35,223 $ 34,290 -2.6% City of Lauderhill $ 35,248 $ 32,531 -7.7% Broward County $ 40,325 $ 41,691 3.4% Miami -Dade County $ 35,494 $ 35,966 1.3% Palm Beach County $ 42,901 $ 45,062 Source: U.S. Bureau of the Census 2000 In comparison, Broward County achieved real rate growth of 3.4 percent during the period, impacted by the strong growth in Pembroke Pines, Miramar and Weston, which were among the strongest new housing growth areas in the nation during the past decade. We believe that the relatively slow growth in income is the result of the City 14 Lambert Advisory, LC City of Tamarac Northwest 57'6 Street Corridor having generally not been able to attract as much growth during earlier decades as surrounding communities such as Coral Springs. Housing. Although the income growth rate has not been as strong as the greater region, Tamarac's income has still been solid and remains at a stable level. Housing activity in Tamarac indicates positive momentum for the City. For purposes of this analysis, Lambert Advisory conducted a comparative re -sales activity analysis for the residential neighborhoods surrounding the site location, and further defined by select areas within Zip Codes 33321. The area is generally defined by two zip codes comprised within the City, and one zip code representing competitive housing west of the site location — shown in the map below: Mao of ZiIJ Code Area 33321 Profile (Sales Volume' 1998 2002 Condominium 434 762 Single Family 598 962 Total 1,032 1,724 Sales Price' 1998 2002 Condominium $69.392 $81.945 Single Family $102.515 $131.314 To(al/Avg. $88,585 $110,562 Sales Price/Sq.Ft. 1998 2002 Condominium $65 $79 Single Family $66 $92 Total/Avg. $65 $86 Source: Lambert Advisory; First Amencan RE Services 1.) Estimated from annualized 6 month sales activity In aggregate, total re -sales activity (volume) among single-family and condominium within the Tamarac housing market increased from 1,032 sales in 1998 to approximately 1,724 in 2002, or an increase of nearly 65 percent during the two periods. More importantly, average pricing within the single family home market increased significantly from $102,500 in 1998 to $131,500 in 2002, or a total increase of nearly 30 percent during the four-year period. Similarly, single family home value on a square footage basis increased from $66 per square foot in 1998 to $92 per square foot in 2002. Although condominium development is largely represented within the City's central sector, values increased an average 4.5 percent per year from 1998 to 2002. The primary demand for the area's condominium market comprises a mix of retiree and younger working households seeking value in homeownership, As a result, average condominium values remain in the low $80,000 range, which is well below a level supporting new construction. Although the single family housing market has strengthened considerably during the past few yeas, there are a few notable characteristics that define the Tamarac market, and which may have an impact on future housing and economic redevelopment opportunities. First, less than twenty percent of the home sales in the City exceed $150,000, a level that both underlies the moderate demographic base and indicates that the depth of market to support higher priced product — or housing comparable to 15 Lambert Advisory, LC City of Tamarac Northwest 574 Street Corridor neighboring Coral Springs (with an average re -sale home value of $210,000) is modest. Accordingly, even though single family housing value on a square footage basis has increased to nearly $100 per square foot, it is still slightly below the level that supports new construction (estimated to be in the $110 per square foot range). This is not to say that new development is not warranted. As a matter of fact, new (and/or planned) town -home development within the City, comprising approximately 150 total units, is reportedly offering product in the $175,000 range. The fact is that there is demand for new housing; however, the market is considered to be relatively price sensitive. Overall, there is little questioning the fact that the area's re -sale housing activity clearly represents tremendous growth during the past several years that will help establish a foundation for supporting continued economic redevelopment within the area. r�77 M., Following decades of existence as a "tropical paradise" for retirees and tourists, Broward County has been transformed by a dramatic socio-economic change. Strong economic and business growth, combined with positive cultural diversity has led to significant reinvestment in Broward in both business and home ownership. It has also created a multi-lingual culture characteristic of an international business center that now rivals the Counties to the north and south for corporate regional and international headquarters. Geographically, the City of Tamarac is situated between the on -going growth movement toward northwest Broward, southern Palm Beach County's commercial centers downtown Fort Lauderdale, the Fort Lauderdale/Hollywood International Airport and Port Everglades; furthermore, the City has good accessibility to major transportation arteries and area resources. The corridor specifically, shares superior location advantages as it is situated immediately north of Commercial Boulevard, within less than two -miles of the Florida Turnpike, 5 miles of I-95, 1± mile of the Sawgrass Expressway. Therefore, with the potential interest from both the public and private sectors, and with support from the strengthening economic and demographic conditions, the area is now positioned for further growth and improvement, which may be capitalized upon by a broader Main -street redevelopment plan. 16 Lambert Advisory, LC City oJTamarac Northwest 57'k Street Corridor II. General Market Overview by Real Estate Use Retail ffdrket D,yerview The general market characteristics that impact the retail sector within Tamarac and the surrounding areas appear to be relatively stable based upon the economic and demographic trends outlined above. To better understand the dynamics of the retail market, we conducted an overview of market conditions utilizing secondary research sources, as well as some primary held research including conversations with area real estate professionals. It is important to note that the retail analysis contemplated for this study focuses less on the opportunity to develop a "strip" center in -line with those currently in the market place, but rather a more destination oriented concept that is largely influenced by the broader region. General Retail Market Profile Tamarac's retail market, including retail within some of the outlying areas of Sunrise and Lauderhill, is estimated to comprise two to three million square feet of space. The mix of retail inventory is generally defined by small to large "strip" centers, with a moderate level of "big box" stores. For the most part, the retail centers in Tamarac are performing well, with 90+ percent occupancy reported in most centers, and rates typically ranging from $20 to $30 per square foot, net. Most of the tenant mix is local in nature, with a number of smaller national brands present within the market. Corr R91itive Markel_- Shonaina Mall Location Map Legend Q 0�ach r ; a Broward Mall Q Coral Ridge '^ Coral square Mall s 0 Mizner Park Q Pompano Fashion Square m Sawgrass Mall A? 0 Town Center at Boca Raton Site Location ordale 17 Lambert Advisory, LC City of Tamarac Northwest 57`k Street Corridor From a broader perspective, there are a number a larger regional retail facilities (eg. malls, or larger "power centers') within the subject site's competitive market. These properties are identified in the map above and summarized as follows: 1) Broward Maii - The Broward Mall, located on the southwest corner of Broward Boulevard and University Drive, is a 1.1 million square foot regional mall. The complex represents a solid, middle market retail center that achieves over $420 per square foot in sales. The mall's total occupancy is 95 percent. Rental rates are between $40 and $50 per square foot. Its anchors are the current staples of the retail department store industry including Burdine's, Penny's, Sears, and Dillard's. Broward Mall fills an important retail niche by providing the retail basics that appeal to a broader demographic. While the mall owner constantly seeks ways to update and improve the customer experience and thereby increase (or simply maintain) sales productivity, the most plausible strategy at least during the near term is to remain close to its core offerings and current market position. Z) Cora/ Ridge - Coral Ridge is positioned on the northwest corner of North Federal Highway and Oakland Park Boulevard. This center is a mid end regional complex however due to the 1-95 natural barrier Coral Ridge although part of the regional market does not represent a major competitive point of reference for any planned retail to be developed in the site location. 3) Coral Square Mall — Coral Square is located in the intersection of Atlantic Boulevard and University Drive and due to its relatively close proximity to the corridor represents the most competitive retail complex. In terms of layout, Coral Square has the characteristics of an enclosed retail development while intends to provide an exterior kind of environment where landscaped, fountains, a saltwater aquarium, a carousel and a kids train complement the shopping experience. The complex comprises four anchor stores (Burdines, Dillard's, JcPenney, and Sears) and 120 specialty retail stores. 4) Mizner Park — Mizner Park is located approximately 150 yards east of US 1 and less than 0.3 miles north of Palmetto Park Road in Boca Raton. With gross rental rates ranging from $30 to $50 per square feet this "main street like" shopping center encompasses a variety of upscale specialty retail shops and restaurants and an eight screen movie theater complex. Despite the design attractiveness of this center current occupancy rates indicate that the anchor space is vacant in addition to smaller locales comprising nearly 2,000 square feet. The shopping center is surrounded by office and residential space managed by the same company. S) Pompano Fashion Square — Located on North federal Highway, Pompano Fashion Square comprises 60 stores, four department stores (including Burdines and JC Penney) and almost 40 restaurants. The shopping center had decreased in sales and visitation, however after a recent renovation increased amounts of shoppers have returned to this now tropical shopping environment. 6) Sawgrass Mai/ -- Located on the intersection of Sunrise Blvd. and Flamingo Rd., approximately seven miles southwest of the site location, Sawgrass Mills Mail is a 18 Lambert Advisory, LC City of Tamarac Northwest 574 Street Corridor regional retail facility that comprises over 2 linear miles of retail and 400 outlet stores and includes department stores such as 5th Off Sacks Fifth Ave., Neiman Marcus, Macys, IC Penney, among others. The shopping center also features entertainment that includes Gameworks and a 23 screen Movie Theater. In addition nearly 30 recognized restaurants such as Wolfgang Puck, Hard Rock Cafe, Cheesecake Factory, and Rainforest Cafe are located at the heart and north end of the retail complex. 7) Town Center at Boca Raton — This high end retail center comprises over 220 specialty stores that include Williams -Sonoma, Pottery Barn, and Swarovski among other. A total of 16 restaurants are contained within the mall 9 of which are located in the food court area while the remaining ones are distributed along the mall. In addition the complex encompasses five anchor department stores (Nordstrom, Sears, Lord & Taylor, Burdines and Bloomingdales). The center is located in close proximity to the site location, one 1 mile west of I-95 on Glades Rd. Big Box Retail From the "local" retail service perspective, Tamarac is well supplied by anchored (grocery) and non -anchored shopping centers, as well as "big box" retailers including Target, Office Max, Barnes and Noble and Toy-R-US. Competitive Market - Big Box Retail Lqcation Map E�erp�arles Legend ■ Barnes & Noble Bed Bath & Beyond 40 Best Buy rr Borders Home Depot K Mart 9♦ Linens & Things Lowe's 40 Target Toys R Us Site Location The "big box" retailers appear to be well represented within the broader competitive market area. However, there are still potential opportunities to identify other niche retail stores that are not present within the competitive market and may be willing to locate to the area as part of a broader town center/main-street redevelopment plan. 19 Lambert Advisory, LC City of Tamarac Northwest 57 * Street Corridor Movie Theater In addition to the overview of regional shopping complexes and "big box" retailers, another larger -scale retail use considered as a potential opportunity is movie theaters. To this extent, the surrounding market includes a considerable supply of retail/movie theater complexes, estimated to be more than 100 screens; most movie theaters in the area are located within a S mile radius of the site location and generally range between 4 and 8 screens. Competitive Market - Movie Theater Location Mg� _ P A L� M - 9 E....n. r_ M 4. r Mt Y ... .. I y9 i Coral Sp '1 e ' 7r F. O Legend R 1 D d ' . O Cobbs Sawgrass 18 Cinemas"`. ® Coral Springs Movie Center ` 40 Regal Coral Springs Six Cinema G^7''"� O GC Coral Square 8 } yy A p g Deerfield Cinema Five t` S. ® Inverrary 5 Theatre o 0 Movies a Margate -.. _.•ri `:}- d Movies at Pompano Q Regal Cinema Magnolia Place 16 F, Q4 Regal Cinemas - Cypress Creek Station JE- ` Q) Movies at Town Square Boca Raton t" fernClV '- O UA Movies at LaUderhill -- all S ® Tamarac Cinema 5 Theatre a, Retail Conclusions Overall, Tamarac's retail market is relatively stable; however, there does appear to be an opportunity to capitalize on certain niche opportunities within a main-street/corridor concept, including a "big box" retailer with a limited amount of local retail support. Accordingly, within a main -street concept, there may be an opportunity to attract larger national brand restaurants (eg. On The Border, Macaroni Grill) that may anchor the inline retail space with between 20,000 to 40,000 square feet of area. 20 Lambert Advisory, LC City of Tamarac Northwest 57" Street Corridor &,Fj&U641 Marketi As noted above, Tamarac's housing market has strengthened considerably during the past several years and is expected to remain as a vital sector to the area's growth during the. next several years. In an effort to better understand the demand for housing potential within the area we have segregated our analysis into two market segmentations: For -Sale and For -Rent housing. For ale As summarized in the preceding sections, the characteristic of the home -ownership market in Tamarac represents a predominately strong middle -income resident, the overall character of which is a desirable suburban community. The for -sale housing market profiled in more detail in the preceding sections indicates that the housing market is strengthening. A summary profile of the housing market is provided in the following table: Map of Zip Code Area 33321 Activi Profile Zip Code 33321 Sales Price' 1998 2002 Condominium $69,392 $81,945 Single Family $102,515 $131,314 Total/Avg. $88, 565 $110, 552 Sales Price/Sq.Ft 1998 2002 Condominium $65 $79 Single Family $66 $92 Total/Avq. $65 $86 Source: Lambert Advisory, First American RE Services I.) Estimated from annualized 6 month sales activity General conditions in the housing market on both the local and national level during the past few years are supported by a combination of unprecedented economic growth and an advantageous lending environment. Tamarac (herein defined by Zip Code 33321) appears to have experienced some of this growth and is achieving single family re -sale home prices generally ranging between $120,000 and $150,000 and averaging more than $130,000. However, including the condominium product, the average re -sale home price in the City is in the range of $111,000, which is considerably less than the County's average home re -sale of $168,000. 21 Lambert Advisory, LC City of Tamarac Northwest 57 * Street Corridor Within the zip code area there were more than 950 single-family home re -sales in 2002 - up from 598 in 1998, or a total 60+ percent increase. Accordingly, there was an estimated increase of more than 70 percent in condominium sales during the same period of time which brings Tamarac to a total increase in sales of 65 percent or from 1,032 in 1998 to an estimated 1,700+ in 2002. Similarly, home value on a square footage basis increased from $65 per square foot in 1998 to $86 per square foot in 2002. Overall, there is little questioning the fact that the area's re -sale housing activity clearly represents tremendous growth during the past several years that will help establish a foundation for supporting continued economic redevelopment within the area. Although the level of pricing within the area is slightly lower than that of other surrounding areas such as Coral Springs and Sunrise, and the County's median home price of $168,000, approximately ten percent of the City's total sales activity (or roughly 170 sales) are approaching an average single family home price of $200,000. Furthermore, while current average pricing in the area's resale market appears remains slightly below the level to support new construction (estimated to be in the $110 per square foot range), twenty percent of the market (or more than 350 sales) exceed this threshold. As such, this level of sales activity, coupled with the fact that new townhome development is currently selling within the market, indicates current re -sale conditions should allow new residential construction to occur within the market. Rental The Broward County rental market comprises more than 130,000 apartment units, spread among more than 10 major sub -markets. Apartment development in Broward County has been strong during the past few years, with the addition of more than 6,000± total units from 1997 to 2001, or 1,500 units per year, Accordingly, there are more than ten major projects (estimated to represent more than 2,500 units) under construction or in the planning process within the County, the majority of which are situated in the northwest, southwest and downtown sectors of the County. In pace with the addition to supply, occupancy remains very strong at approximately 95 percent. Of the apartment stock in major apartment projects, roughly 34 percent of the units are one bedroom, 52 percent are two bedroom and 14 percent are three -plus bedroom. The average rental rate among all unit types is approximately $925 per month. Broward County & Tamarac Submarketol Apartment Profile $1,200 --._ ------ 100% $1,100 $1,000 95 % 96% 95% $900 $800 $700 -- 90% Su6,halkut 9roWa�d Counry Rent ±__ occ. 22 Lambert Advisory, LC City of !'amarac Northwest S7r* Street Corridor Tamarac Submarket includes Coral Springs, Cocount Creek, Margate and sunouning areas Source: CB Richard Ellis The Tamarac/Coral Springs rental apartment sub -market comprises more than 32,000 apartment units. The sub -market is one of more than ten sub -markets in Broward County and represents slightly more than 25 percent of the total inventory. During the first quarter 2003, the Tamarac/Coral Springs sub -market has a reported occupancy of approximately 95 percent which is consistent with of all sub -markets in Broward County. Importantly, the sub -market is achieving an average lease rate of $970 (compared to $925 for the County). The strength of sub -market's rental market is largely due to the fact that a large portion of the rental stock has been built within the past twenty years. The newer facilities within the area are capturing some of the'highest rents in the region. In an effort to better understand the demand characteristics and leasing activity of the newer developments within the City of Tamarac, a summary profile of some of the most recent development (properties primarily built within the past five to six years) was completed. The analysis includes a profile of mid to luxury apartment projects consisting of nearly 2,000 total units. Occupancy in these communities ranged from 94 to 95 percent, or an average 94.5 percent; noting, however, that occupancy among these markets is down in aggregate approximately 1.5 percentage points from the market during the past years. The primary driver for these projects is young professional (or young working family), seeking quality living environment with superior amenities and access to major employment centers and services. All of the developments have swimming pools, jacuzzi, clubhouse and fitness center, while the majority also include a business center, tennis courts, gated entrance, and additional storage. The rental market is expected to continue strengthening during the next several years from a regional perspective, for which the Tamarac market is well positioned to capture this growth. To this extent, rental housing presents an opportunity for the success of a town center/main-street program. Housing Conclusions Considering the strength of the local and regional housing market, housing development will be a vital component to the N.W. 57th Street corridor redevelopment plan; both the for -sale and rental market in Tamarac and surrounding areas is anticipated to remain relatively strong during the next several years. Specific to for -sale product, the market strength predominately exists for single family and townhome product. Higher density ("stacked') condominium housing does not appear to be a viable use for the site. There are two primary reasons for this: 1.) During the past ten years, multi -family housing (5+ units) represented approximately only 30 percent of the new housing stock in Broward County (rental and for -sale). The majority of new for -sale housing development remains single family or townhome development. Multi -family for -sale housing is now generally limited to development in the eastern portion of the County. Buyers are typically working professionals seeking 23 Lambert Advisory, LC City of Tamarac Northwest 5;"* Street Corridor housing within proximity of the central business district, or second home buyers seeking ocean/water views that alone are a strong impetus for demand; and, 2.) Although the condominium market within Tamarac appears to be strengthening, it is primarily driven by either the retirement community, or the younger working couple that is highly value conscious. This is illustrated by the fact that condominium sales in Tamarac averaged $102,000 (or $56 per square foot) in 2002. This is well below the level required to support new development. Therefore, for -sale development within and surrounding the corridor will principally be town -home (or higher density/single family) in nature. In the effort to define market -driven demand for -sale product that may be supported within the corridor, we focus primarily on the 5 to 10 year horizon, as estimating demand and market conditions beyond this time frame becomes very difficult. Considering historical and current for -sale housing trends, including existing development plans and inventory within surrounding areas for new housing development, we anticipate demand for 500± units within the corridor during the period. Importantly, this demand level contemplates a mid to higher density town -home product that provides competitive pricing in the $150,000 to $175,000± range (2003 dollars). In terms of rental product, the market could reasonably absorb 200 to 300 units during the next 5+ year horizon. Importantly, to provide for adequate operating economies, which ultimately supports an investment, any rental product development within the corridor would need to be at least 200 units. In aggregate, considering market demand for both for -sale and rental housing, the corridor could achieve total housing demand of 750+ units during the next five to ten year period. However, with this level of density within the area, there are two critical factors that must be recognized as part of the 571h Street corridor redevelopment plan: 1.) The fact remains that the 45-acre Caporella site plays an integral role in the success of a redevelopment plan for 57`h Street. This is the case for two specific reasons: 1.) it is by far the largest property within the 57th Street corridor and as such development of the site will serve as the anchor development that will help establish a "beacon" for the 91, Avenue entrance that will draw from the heavily traveled Commercial Boulevard; and, 2.) given its proximity and density, the site will provide strong resident support for the local retail stores that will be an important part of the corridor's characteristic. Considering this, the ability to control the planning and design guidelines for the development of the 45-acre tract will be important. To this extent, the main - street concept is best preserved with a housing development that offers maximum appeal and attracts households (owner or renter) that will enhance the area's demographics and provide strong economic support to the adjoining main -street. 2.) An area of concern with regard to a redevelopment program within the corridor (whereby land is somewhat limited) will be the demand for parking — specifically as it relates to higher density rental product. Although the market may support additional housing (either in the near- or long-term), structured parking may be required to accommodate development. To this extent, the project economics of these developments to support structured parking is questionable given the 24 Lambert Advisory, LC City ofTamarae Northwest 57'~ Street Corridor potential rent/sale levels for the market, even if a premium were placed on current values. Office Market Overview The office market in Tamarac is relatively stable, but small. From a regional perspective, the Broward County office market is comprised of nearly 35 million square feet of office space. The office development is scattered among more than ten sub - markets; the Tamarac sub -market (which includes office buildings bordering, but slightly outside of the City) comprises an estimated 720,000 square feet of total space, less than three percent of the County's total inventory — in comparison, the Coral Springs sub - market comprises nearly 1.4 million square feet and the Margate sub -market encompasses nearly 450,000 square feet. Larger sub -markets such as Plantation and downtown Fort Lauderdale office market comprise an estimated 4.5 and 5.5+ million square feet respectively. Overall, the County is experiencing 82.5± percent occupancy, with lease rates for quality Class A/B+ projects generally averaging $20.50 per square foot, gross (first Quarter 2003). Presently, there is reportedly more than 1.0 million square feet of office under construction in the entire County. Source: Black's Guide, Lambert Advisory (Field Survey) Based upon industry publications, as well as discussions with market professionals, the submarket's 700,000 square feet of office has an estimated occupancy of 92± percent. Generally, lease rates in Tamarac's office space average $17.00 per square foot, gross. These lease rates are slightly below the broader market's leasing rates (approximately 10 percent) and almost 20 percent below Broward County's leasing rates. However, rates are relatively stable and should remain at current levels. Composition of the City's office development is spread throughout the primary corridors (notably Pine Island Road, University Drive, and Commercial Boulevard. In recent years, it is estimated that the submarket has experienced limited office growth of roughly 15,000 square feet of new development; however the surrounding area including Coral Springs and Margate comprises approximately 2.5 million square feet. Estimated future development in the northwest Broward County market (not including Sunrise) comprises approximately 200,000 square feet of space. 25 Lambert Advisory, LC City of Tamarac Northwest 57"" Street Corridor Overall, Tamarac's office market is expected to remain a modest, but stable component to the City's development mix. Accordingly, as part of a broader redevelopment plan, office development may serve as a supporting use with a maximum build -out of 30,000 to 40,000 square feet during the near term. Flex Industrial Market Overview As part of the analysis herein, we have considered all types of uses that may be contemplated within a redevelopment strategy for the subject site. Although not really compatible with a main -street concept, given the site location and surrounding uses, we have taken a high -profile look at the flex industrial market. As such, the Tamarac market comprises more than 1.2 million square feet, the lions share of which is situated within the Tamarac Commerce Center, Tamarac Commerce Center (Westpoint Center) is home to several major headquarter and/or regional facilities including City Furniture's 500,000+ square foot clearance/showroom center and Culligan Water. Presently, there is more than 150,000 square feet of space (some of which includes office) currently under construction within the park. Not including the major single tenant industrial/flex users within the market, there is roughly 600,000 square feet of multi -tenant space within the City and immediate surrounding areas. Overall, the market is stable, with occupancy generally in the 70 percent range, and average rates range between $5 and $7 per square foot (gross) for industrial space, and more than $10 per square foot for "flex" space. Source: Black's Guide; Lambert Advisory (Field Survey) As noted, the industrial/flex market is primarily positioned the City and, with existing available land, will be industrial/flex growth, However, as the commerce park evolve as an important anchor to the redevelopment employment base will help support retail and residential areas. Hotel Market Overview along the western fringes of the primary area on -going builds -out, it will continue to corridor as the expanding development in surrounding Nearly seven million people visited Greater Fort Lauderdale in 2002, achieving a steady 3 to 5 percent annual growth during the past few years. Accordingly, passenger arrivals at Fort Lauderdale/Hollywood International Airport reached 15.0 million in 2001, a 30 percent increase from 1998. Port Everglades continues to grow as one of the State's largest facilities in moth cargo and cruise passenger. Furthermore, tourism expenditures 26 Lambert Advisory, LC City of Tamarac Northwest 57'h Street Corridor in the County exceeded $4.8 billion, an increase of more than 12 percent over the previous year. Despite the most recent retraction in tourism to the region resulting from the incidences of September 111h, Broward's visitor industry is expected to rebound given its healthy balance of both business and leisure industry sectors. The hotel market in northwest Broward County is relatively modest, with roughly 2,500 rooms in the surrounding northwest Broward County area. There are primarily five hotel properties (Comfort Suites, InnSleep, Hampton Inn, Baymont Inns and Homestead Studio), or 550± rooms in the Tamarac market. There are only a few full -service hotels within the broader northwest market area, including Hilton and Crowne Plaza in Sunrise and Marriot Heron in Parkland. The remaining balance of hotel inventory consists of limited -service and/or extended stay product. For the most part, the hotel market has maintained 55 to 60 percent occupancy during the past several years with average daily rates in the $75 to $85 range. Based upon conversations with select properties that had been established in the market prior to the mid/late 1990's, it is apparent that the recent addition to supply, particularly among the limited -service category has had an impact on the market's rate structure. Overall, Tamarac's hotel market should remain at least at current levels for the next twelve months to twenty four months, with steady growth expected during the period. As such, new hotel development in the near term is largely reliant upon a successful planned redevelopment for the corridor, for which a limited service product in the 100 to 120 unit range may be warranted. During the longer term (or more than 10 years out) there will be a natural demand for additional hotel supply within the area, limited to one or two additional properties. 27 Lambert Advisory, LC IV. Development Scenario An integral part of this study was the conjectural proposal of a prototype town center, placed on the study area. This was done to determine a "test fit" of a development program and to determine what implications this might have for the City as it pursues this in the future. The proposed development scenario is depicted in Figure 4.1. This image shows approximately the western half of the study area, between NW 94th Avenue and NW 84th Terrace. This is the area that contains the majority of the vacant property in the area, and thus, has the greatest potential for development in the near future. Figure 4.1 — the western part of the study area From a planning perspective, it was felt that the development scenario had to address the following considerations: A strong presence on Commercial Boulevard. This is where the majority of the traffic is, and it is essential to establish an identity here. Even if the focus of development is proposed to be on 57th Street, the town center cannot be internalized to the point that it has no visibility from the main traffic arterials. A strong and deliberate connection to the interior of the Caporella property. By its nature, this property is set back from the street network and virtually isolated by a moat of water. Yet it is of a sufficient size to introduce a critical mass of medium, density housing within walking distance of the town center. The definition of the street edges along 57th Street with active building frontages. If 57th is to become a vital, pedestrian -friendly environment, it must do more to interest pedestrians than simply provide enhanced landscaping and upgraded sidewalk paving materials. The essence of a town center is the existence of town center activities, i.e., window-shopping, sidewalk cafes, entertainment options, residential and office uses in close pro -unity, and a certain complement of convenient curbside parking. It has togenerate pedestrian activity, not merely accommodate it. • A significant boost in development intensity over what is currently allowed. This not only implies higher allowable floor -area ratios, but it means a concerted effort to manage parking. On street parking should be provided in as many locations as practical along 57th Street and the 57th Street / Main Street Study I Tamarac, Florida IV - i IV. Development Scenario cross streets. Provisions for relaxing required parking ratios and allowing for shared use of parking for nixed use buildings should be incorporated into the development regulations. A framework for future infill possibilities. Figure 4.1 depicts the town center in a fairly early stage of development, essentially just filling the vacant parcels. If this initial phase is successful in generating additional value in the area, there will be increased pressure on the older development to redevelop at a higher level of intensity. Appropriate incentives should be incorporated into the land development regulations to not only make this possible, but to guide development in the appropriate manner. This scenario keys on NW 91st Avenue as the critical link between Commercial Boulevard and 57th Street, as well as extending it northward to the interior of the Caporella property. The properties on both sides of NW 91st Avenue between Commercial Boulevard and 57th Street are currently vacant, so they could potentially be developed in a coordinated fashion to set the precedent for the development pattern desired. Figure 4.2 shows an illustration of what this development could look like, as seen from Commercial Boulevard, looking northward along 91st Avenue. This view suggests that the development could be symmetrical about 91st Avenue, so that it forms a gateway feature drawing one in to the town center area. The form of the buildings could reinforce dze gateway form by creating a plaza at the corners that would help to draw attention to the north. Special paving treatments and crosswalks at the intersection would help signify to drivers along 57th Street that they were crossing a special area. P a� •'7 E :n Figure 4.2 -- NW 91s1 Avenue looking north This view also shows some of the essential features of the preferred town center development pattern. Buildings are placed close to the right-of-way fines, so that the ground floor space is immediately adjacent to tlhe sidewalk. This places the pedestrian close to the activities occupying die ground floor, creating the potential for pedestrian interest. These ground floor spaces are ideal for retail tenants, as well as other well -trafficked uses such as restaurants and cafes. The upper floors of the buildings introduce other occupants into the mix that are also potential pedestrians. These upper floor uses could be either office or residential. It is likely that buildings close to Commercial would house office space, while residential uses would be more appropriate on a quieter street such as 57th. Multi -story buildings also create a more 57th Street / Main Street Study I Tamarac, Florida IV - 2 IV. Development Scenario positive definition for the street environment, so that the pedestrian does not feel as exposed to the elements, but rather, is in a sheltered environment. The street itself is narrowed so that traffic tends to move more slowly, while the presence of on -street curbside parking adds some convenience parking as well as forming a buffer zone between the pedestrian on the sidewalk and the moving traffic. Landscaping and a consistent palette of other streetscape elements such as Lghtposts, waste receptacles, paving materials, etc., round out the quality of the pedestrian experience by extending it down to the level of human -scaled details, The bulk of the parking is placed behind the buildings at the interior of the site. This view also suggests that the vista could bef exti�nclecl into the Caporella property with the axial placement of some landmark, such as a monument in a public space. The Caporella property is proposed to be developed as predominantly medium density residential. Housing types such as townhouses of a modest scale would both provide the needed density as wen as introduce a critical mass of housing within walking distance of the town center. This type of housing would attract a different demographic profile than the typical suburban housing, and would be particularly attractive to younger and older couples without children, young professionals, etc. The density of this development needs to be balanced with an appropriate amount of public open space. The scenario suggests a large public park near the center of the property, forming a termination for 91st Avenue. The residential is distributed around the park to provide easy access to it as well as to open up vistas between the park and the water around the perimeter. A street connection on the southwest corner of the tract provides another fink to the surrounding neighborhoods. The Caporella property has recently been sold, and the development program for this site was chosen to correspond to the consultants understanding of the intended use of the property. The site will be developed as predominantly residential units of a limited number of medium density townhouse types, likely around 450 to 500 total units. There win also be a public park of approximately 5 acres in size, with an aquatic theme. The park is likely to be located in the southwest corner of the property. A previous scenario for this property suggested that the town center could be extended into the site along 91st Avenue, introducing limited commercial uses as well as mid -rise (3 to 5 stories) rental units near a denser concentration of development at the center of the tract. This would introduce a broader rmix of uses into the site, would help to reinforce the town center idea, and would add additional intensity of development to the site. Whae it would mean amendments to what is currently allowed to be developed on the property, this option should be explored with the developer before their current plans are too far advanced. An alternative development scenario such as this would yield additional development value on the site as well as support the town center concept in a more direct way. The intersection. of 57th Street and 91st Avenue will set the precedent for the type of development to be encouraged along 57th Street as infill development begins to spread along it in die future. This development should be similar to the development depicted along 91st Avenue, with multi -story buildings placed close to the sidewalk, active ground floor occupancies, mixed use, and on -site parking placed at the interior of the lots. The vacant tracts between Commercial and 57th should endeavor to front both streets. One possibility is to split the uses, with commercial space fronting on Commercial, residential units (possibly more townhouses) fronting on 57th, with shared parking facilities between them at the interior of d-ie block. Several existing uses along 57th street will not fit this pattern, but could be redeveloped in the future. Many of these properties are older, and were developed when property values in the area were considerably lower, Particularly if the early developments prove to be successful, property values will rise to the level that redevelopment could become an attractive proposition. By revising the land development regulations to permit more intensive use, many of these redevelopment decisions may be accelerated. 57th Street / Main Street Study I Tarnarac, Florida IV - 3 IV. Development Scenario The i raising of perrrutted development intensities raises the issue of parking. With the ample parking requirements currently in the development code, many of the existing properties are built out at close to the maximum possible intensity. Regardless of what the maximum permitted FAR or density is, the amount of parking that has to be provided will occupy a majority of the site and limit the area of the building that can be built on the remainder. This can be addressed in a number of ways: 1. . Provide on -street parking in as many locations as practical, and allow that parking which abuts a property to count toward the parking requirement for that site. 2. Relax the required parking ratios. The ratios currently in the code reflect suburban parking expectations that ensure ample parking is available even at peak demand times. Parking takes up a lot of space, and even a small reduction in the required quantities will have a beneficial effect on development patterns. 3. Allow for shared use of parking. Parking lots should be interconnected rather than separated, and cross access and sharing should be pernuitted. This is particularly beneficial in M.Lixed-use situations when the different uses have different peak demand times. For example, office uses need most of their parking during normal working hours, while residential uses need the most parking after working hours. If these two uses are located in close proximity to each other, their parking supplies can overlap, so that each does not have to provide the full parking requirement. 4. Consider a public parking pool. The City will be investing public money in certain aspects of the town center, such as infrastructure, and it can be argued that spending money on public parking would be a worthwhile investment. It relieves developers of having to provide all of the necessary parking on their sites and is of particular benefit to developers of small parcels. The City can also defray some of the costs of the parking by giving developers the option of "buying down" their parking requirements by paying a predetermined amount of money per space into a parking fund. 5. Allow market forces more latitude to work, By increasing the allowable development intensity on a parcel, the parcel has a higher market value. Property values, particularly for parcels with frontage on Commercial Boulevard are above $10 per square foot. With an additional boost in value, they will be in the range where it becomes economically feasible to consider structured parking. This will have a beneficial effect on development patterns because large quantities of parking can be consolidated in a relatively compact area, freeing additional land for development. Unfortunately, it req0t es fairly large parcels of land to build garages, so it could only be realistically considered on a few parcels, all the more reason for the City to consider a public parking facility. The early, high impact development is most likely to happen west of Pine Island ' but it is conceivable that the pattern could spread to other areas. Figure 4.3 shows how development in the study area is likely to be phased. Th�is indicates three stages of development. The first is the development on the vacant parcels west of Pine Island, as has already been discussed. The second.phase of development is likely to happen at the eastern end of the study area, and will be keyed by the potential redevelopment of the Nfidway Plaza shopping center. It is anticipated that this development is probably ten years away. Nfidway Plaza shows evidence of recent remodeling and some new leasing activity, although the tenant rrWix is not the strongest. If the initial stage of the town center on the west side is successful, there will be considerable momentum in place for the eventual upgrade of the cast side as well. This can be encouraged with the introduction of targeted development incentives such as increased intensity, reduced parking requirements, etc., similar to those discussed for new development. If this property turns over, it will be a catalyst for further infill 57th Street / Main Street Study I Tamarac, Florida IV - 4 IV. Development Scenario redevelopment of smaller parcels in the east end. This area contains some of the oldest and least viable structures in the study area, and just needs the right spark to get it going. Figure 4.3 — Development phasing Once the east and west sides are in place, the likely third phase will be to bridge between the two along the middle part of 57th Street. As previously discussed, this is the most problematic part of the study area. Despite the presence of two strong civic uses, this part of 57th Street suffers from several disadvantages. The first is that the existing uses front onto Commercial Boulevard and present back sides to 57th Street. Another drawback is that the north side of 57th Street is essentially inert, defined by a thick landscape hedge protecting the back of a residential subdivision. While one could imagine worse things to look at, this hedge does not provide for any activity of interest to a pedestrian. The thrust of pedestrian activity will thus have to be concentrated along the south side of 57th Street where it must contend with the back doors of the existing buildings. There are limited vacant sites here to try to mitigate this pattern, but the civic uses are not entirely inaccessible from this side. In fact, a great deal of the parking is located on this side, and both facilities have a reasonably welcoming entrance facing 57th Street. It is likely that many patrons will approach the library or the community center from this side, creating the potential for reasonable human activity along 57th Street. Figure 4.4 shows an illustration looking down this part of 57th Street toward the east. The drawing suggests how this part of 57th Street could be enhanced to make it more welcoming to pedestrians. The streetscape improvements include better, more formal landscaping in the center median and along the sidewalk, a lower scale of street lighting at a closely spaced interval, better paving materials at crosswalks and as accents along the sidewalk, and a curbside parking lane. While sidewalks would be included along both sides of 57th, the south side would be treated as the more pedestrian oriented walk, while the north side would likely be used by joggers and other less passive users. The drawing also suggests that detached canopy elements could be brought out to the sidewalk to act as transitional spaces leading to the library and community center. If the building cannot be brought closer to the sidewalk, perhaps pieces of the building could be brought out there to at least lend a sense of scale and rhythm to the pedestrian experience. Also the additional curbside parking could relieve the on -site parking requirement to the extent that other smaller program elements could be added to the civic sites to enhance the overall ensemble. An outdoor reading terrace or a playground area are several elements that could be used to advantage to create additional activity along 57th Street. 57th Street I Main Street Study I Tarnarac, Florida IV - 5 IV. Development Scenario Figure 4.4 — NW Street, behind library, looking east Development Program An assumed development program was developed for the first phase of the town center development in order to assess the implications of the scenario proposed in Figure 4.1. Leaving the Caporella property aside for the moment, land uses were allocated for the vacant properties located on 57th Street between 94th Avenue and Pine Island. This comprises about 11.6 acres of land. The development program was derived using the following criteria: • Building footprints correspond to those shown in Figure 4.1. The typical depth of the building was set at 60 to 65 feet for most cases that imply a mixed -use building. This is a reasonable lease depth for a ground floor retail space, and also accommodates a double loaded (similar units located on both sides of a central corridor) occupancy on the upper floors. • Building height was assumed to be an average of three stories in the rxiixed-use areas. Certain buildings (fronting Commercial Boulevard) were assumed to be a conventional one-story building, with limited portions assumed to be two-story. • Ground floor space was assumed to be commercial. This would be primarily retail, although it could be office or live -work office in quieter sections of the street. • Upper floor space was assumed to be office if fronting on Commercial or 91st between Commercial and 57th. Otherwise, upper floor space was assumed to be residential. • Residential units were figured at an average of 1100 square feet of gross building area per unit. This allows for common spaces as well as a reasonable mix of one and two bedroom units. 57th Street / Main Street Study I Tamarac, Florida IV - 6 IV. Development Scenario Using these criteria, the following development program was derived: Residential (primarily rental) -- 140 units Retail Office TOTAL Total Site Area (11.6 acres) Floor Area Ratio = 0.64 154,000 SF 95,000 SF 74.000 SF 323,000 SF 505,296 SF This program is an assumption only, designed to give an idea of the magnitude of development and its implications. Certain buildings could easily be four or more stories, and accommodate more program. As assumed, the program has the following implications: 1. This is approximately twice the development intensity that the current zoning code allows. Although the City of Tamarac code regulates lot coverage rather than floor area ratio, the existing code would yield a theoretical maximum FAR of about 0.35. This is largely determined by parking ratios, which, for most commercial uses, will require more lot area for parking than for building footprint, assuming predominantly surface parking. 2. In view of the following, this program indicates that at least some amount of parking will have to be accommodated in a parking structure. Even with a high proportion of residential uses, which typically have a much more advantageous parking ratio, this intensity of development cannot be done with surface parking alone. Going vertical means introducing more residential units into the development mix. Retail typically struggles on upper levels, even in the best of situations. The office market here is limited to certain niches like small professional office tenants, and should not be provided in any great quantities. On the other hand, there is a potential market for residential units, particularly for units in a town center atmosphere. This type of unit is only a small portion of the overall market and has typically been very strong wherever it has been provided. Overall, the proposed development mix is favorable. New development should be biased to the residential, which is the strongest market, and will also provide additional customers and foot traffic to support the town center area. There is a good demand for retail uses, and it could be even stronger in a unique, pedestrian -friendly environment. The chief drawback is that this is still a relatively new type of development model, and more difficult to finance and lease than the typical single -use development. Nevertheless, it does offer the developer the ability to yield more from his property and has proven to be an attractive model for the consumer. 57th Street 1 Main Street Study I Tamarac, Florida IV - 7 V. Conclusions and Recommendations The possibility of a town center development in the 57th Street area of the City of Tamarac appears to have some viability, although this conclusion cannot be made without reservations, As things currently stand, the proposed town center concept is a compelling vision, but is not strongly supported by existing conditions. The demographics of the area are somewhat below the Broward County median in terms of household income, This makes it difficult to attract higher quality development. The trends are improving, however. Broward County can only continue its strong growth rate by generating enhanced development activity on the dwindling supply of available land, The prevailing pattern of low -density sprawl has just about run its course, and now has to confront some real, physical constraints. This will place additional development pressure on the vacant property that is still available. Since there is a reasonable concentration of vacant land available in the study area, it presents itself as an opportunity for an enhanced development. In order to maximize this potential opportunity the City should consider the following: A unified vision. The vacant land in die study area is not under common ownership, in fact, much of the property fronting Commercial Boulevard is platted into fairly small parcels of about 2/3 acre. While several of these parcels are usually assembled under comnion ownership, there is still a fragmented ownership pattern. With the exception of the Caporella property, 4 acres would be considered a fairly large tract. Under these conditions, the most likely development scenario is what is already unfolding: individual pad site developments, whatever seems to be a good idea to that particular owner, with little regard for the neighboring parcels, or for the quality of the whole. Several steps can be taken to address this: Create a consensus among the existing property owners within the study are to support a coordinated, master -planned vision for the area. This vision would be supported by an inherently higher potential value for the existing properties. This is the essential bargaining chip. No common vision, no added value. The build -out scenario presented here may be used as an exai-nple to demonstrate the leverage of a coordinated development effort. Bring the developers of the Capore2a property into the discussion. Hopefully, their development plans are not sufficiently advanced to consider some mutually beneficial enhancements. Added development rights can be used as an incentive to seek their cooperation, as well as to lend critical mass to the town center. Make sure that the surrounding neighborhoods are aware of the plans, and that their concerns are addressed. If done properly, this town center will be of benefit to them as well. A regulatory overlay. If consensus among the community can be achieved, the next step is to make this kind of development possible from the perspective of land use regulations. The scenario presented here would require changes to the following provisions; 0 Land use should permit mixed -use within the same building. Maximum residential densities should be increased, and lot coverage and floor area limits should be increased, Setbacks should be reduced to minimal dimensions, on the order of zero to 10 feet. Particularly on the streets that are intended to be pedestrian- friendly streets, the setbacks should not be treated as minuinums; rather, they should be required "build -to" fines. Special 57th Street I Main Street Study I Tamarac, Florida V - I A V. Conclusions and Recommendations attention should be paid to the quality of the street frontages of buildings, so that both the uses and the design help to enhance the pedestrian expaerience. • The architectural expression should promote a consistent vision. This does not mean a unified style, but, rather, a common attitude to street frontage, bulk, and mixed -use. • Required parking ratios should be reduced, and various other strategies should be employed to reduce the overall parking. These strategies should include on -street parking, shared parking reductions, and a public parking pool. Parking should be located so that it is less visible, generally behind buildings and at the center of development parcels. Public improvements. The City should support the vision with the appropriate improvements to complement the private development efforts. Streetscape improvements along 57th Street, NW 91st Avenue, and others should support the goal of a pedestrian -friendly environment. This should include enhanced pavement and landscaping, lower scale lighting at more frequent intervals, street furniture such as waste receptacles and bicycle racks, and curbside parallel parking lanes. Additional elements can also be added to the city facilities to make them more welcoming to pedestrians walking along 57th Street. 57th Street I Main Street Study I Tamarac, Florida V - 2 v