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
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:COMMERCIAL bLVD
I
I. Executive Summary
View down NW 9P Avenue from Commercial Boulevard
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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