CORAL SPRINGS, FL – A row of massive warehouse buildings is going on the edge of the Coral Springs Corporate Park on Coral Ridge Drive -- a construction boom with the potential to bring hundreds of new jobs and tens of thousands of additional tax dollars to Coral Springs.
The four new buildings are part of the roughly one-square-mile, 442-acre corporate center that is home to more than 450 companies and a sizable share of the city’s tax base.
Exeter Property Group is constructing the buildings which will have more than 460,000-square-feet of new space for future business tenants, records show.
“This is critical to the city,” Coral Springs Commissioner Shawn Cerra said.
To keep up with all the development, Coral Springs is working to improve the area’s lighting, water runoff, and security. Officials are updating the storm-water system at a cost of $4.7 million, which is paid through $2.8 million in federal grants and $1.9 million in city funds.
“We have to make sure that people who invested their time and money in that area are supported to the best of our ability,” Cerra said. “There are businesses that have been there for a long time and we have to work hard to keep them there. It’s a competitive market out there” among corporate parks in other cities, especially Tamarac and Sunrise.
Just how many new jobs and additional tax revenue will come from the new construction is hard to know right now, said Kristi Bartlett, director of economic development for Coral Springs.
In recent years, the corporate park added several large companies, including glass and aluminum systems' fabricator, Aldora, which created 35 new jobs and brought with it 150 jobs when it moved into a roughly 200,000-square-foot building, Bartlett said.
“We’re ready. A company can come here right now. Our park is a great location. We’re next to Sawgrass (Expressway) and in between two major ports (Fort Lauderdale and Miami),” she said.
As the corporate park expands, Coral Springs Vice Mayor Joy Carter agreed with Cerra that the city has to keep up with upgrades, especially with a focus on crime prevention. Police have placed at least one license plate reader in the park to help track down any criminals.
“Those readers are really effective,” Carter said. “There’s a lot going on at the park. It’s an exciting time.”