CORAL SPRINGS, FL - It will start with taking out the aging elevators, tearing out dilapidated offices, and capping water and sewer lines at Coral Springs Financial Plaza.
The roughly four-month process of slowly dismantling and demolishing the abandoned 10-story building at the southwest corner of University Drive and Sample Road will kick off on Monday, Coral Springs announced Tuesday.
By May, the building is expected to be gone and a new development called Cornerstone will start to take shape as part of a revitalized downtown Coral Springs.
Cornerstone developer Rod Sheldon of Predesco Property Investments also announced that once the building is demolished, construction will start on a 352-unit residential property called Mill Creek.
Cornerstone will also have medical office suites, space for retail and entertainment, and a 138-room high-end hotel.
“Regardless of the pandemic, Predesco Property Investments has received great interest from companies looking to relocate to downtown Coral Springs to be part of Cornerstone,” Sheldon said in a statement.
The construction of Mill Creek is expected to be complete by the start of summer of 2023, as the rest of the complex is built alongside it.
Across the street from Cornerstone, another development called Village Square is in the process of being planned out.
That development -- on the northwest corner of University Drive and Sample Road -- would feature two eight-story and five-story apartment buildings, as well as a grocery store and retail shops.
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