CORAL SPRINGS, FL – Plans for demolishing the aging Coral Springs Financial Plaza building moved forward this week.

Coral Springs’ Building Department received demolition plans on Tuesday for the downtown building at the intersection of University Drive and Sample Road, and officials now are reviewing those plans.

The building is planned to be replaced with the long-awaited Cornerstone project – a complex of 352 luxury apartments, 125 hotel rooms, eight restaurants/pubs, entertainment/athletic-related businesses, and roughly 200,000-square-feet of new office space, which is seen as a magnet for drawing crowds to a mostly sleepy downtown.

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Once the new demolition plans are approved, Cornerstone’s developer, Boca Raton-based Predesco Property Investments, can submit a permit for the demolition, said Lynne Martzall, the city’s director of communications and marketing.

Martzall said officials expect the plans’ reviews to be completed by May 15. When the permit is issued, a timeline for the demolition will be provided.

Before the coronavirus outbreak, Cornerstone had anticipated having the building razed this summer and starting construction in early 2021. It’s not clear yet what impact the financial crisis resulting from the virus will have on the project.

 

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