A Simon spokeswoman wouldn’t specifically address whether mall traffic has slowed, but the company said in a statement from Patrick Peterman, senior vice president of Development and Asset Intensification, that the addition of this luxury residential community "will meet market demand in an area that is vibrant, sustainable while making the most of the downtown area for residents where they can live, work, play, stay, and shop.”
The plan at Coral Square mall calls for 204 rental apartments in a mix of one- and two-bedroom apartments with balconies. It will feature a pool, fitness center, yoga studio, dog park, playground, club room and an internet cafe.
The projected rent has not yet been announced, although “we will be very competitive of those exiting rents within a 5-mile radius,” said Dean Borg, one of the founders and principals of Ascend Properties.
He said he expects the project to appeal to a range of age of renters who "don’t want to have to get in their car every time they want to go shop.”
He called the area — near University Drive and Atlantic Boulevard — an area with “wonderful access and visibility, an excellent location [that will become a] landmark for the neighborhood."
Because the plans in Coral Springs have just been formally submitted, there is no timetable yet for public hearings or city approvals. If it is approved without delay, construction could begin in the first quarter of 2021, Borg said.