Available Commercial Properties
Offered Exclusively By:Douglas James Kirlan, P.A.
Douglas Kirlan, Licensed Real Estate Broker
2088 Chagall CircleWest Palm Beach, FL 33409
Office: (561) 688-2102Fax: (561) 688-1789Cell: (561) 252-1388
Email: [email protected]
Martin CountySt. Lucie County
Parcel 1
Parcel 2
Parcel 3
Parcel 4
Parcel 5
Becker Rd
(5) Commercial Parcel Available
Crosstown Pkwy
Tradition Pkwy
Martin CountySt. Lucie County
Becker Rd
Local Retailers
The Landing At Tradition
Tradition Village Center
Parcel 1
Crosstown Pkwy
Verano PGAVillage
Kolter Homes
Verano Future 6,500 DU’s
Kolter Homes
SW Fairgreen
Rd
Parcel 2
Parcels 3 & 4
Parcel 5
Tradition Demographics
• Five Miles of I-95 Frontage with Three Interchanges (70,000 ADT) with Substantial Existing Community Roadway Network
• City of Port St. Lucie is a Strong Advocate for continued Development.
• 2 “A” rated K-8 charter schools
• In 2017-18, three major homebuilders have started new residential communities. GL Homes, Pulte/Del Webb and Mattamy Homes
• Current commercial development activity is underway which will add over $365 million to existing development.
• 3 DRIs totaling 8,200 acres
• Residential DU’s - 17,400
• Commercial entitlements totaling 15.3 million sq. ft.• Hospital - 300 Beds approved (90 beds existing, 90 beds
under construction)
• Hotel – 941 rooms entitled (111 operating)
Tradition
Southern Grove Special Assessment District
“SAD”
All of the land in Southern Grove is located within the Southwest Annexation Special Assessment District No. 1 ("SAD #1") and are subject to non-ad valorem assessments ("Assessments"). Master infrastructure in place financed via Special Assessment District (SAD) Bonds through City of PSL. SAD Series 2016 due 2045, $126.9 million outstanding principal.
Single-Family Residential 2,010 Units
Multi-Family 808 Units
Apartment 576 Units
Commercial or Retail use 962,999 sf
Office 56,390 sf
Hotel 240 Rooms
SAD #1 Assessment Rates. The SAD #1 Assessment rates currently applicable to the above categories of development rights within Southern Grove are:
Single-Family Residential Unit $281.93/year
Townhouse Residential Unit $179.16/year
Multi-Family Apartment Res. Unit $136.93/year
Hotel Room $254.17/year
Commercial or Retail Use $0.45 per sf/year
Industrial Use $0.30 per sf/year
Becker Lands – Commercial/Retail $0.03 per sf/year
Becker Lands – Hotel $16.85 per room/year
Southern Grove Special Assessment District
“SAD”
Southern Grove TIF Impact on SAD
• Southern Grove is within the City’s Community Redevelopment Agency (CRA), which allows for 50% property Tax Increment Financing “TIF” rebate towards SAD infrastructure assessments.
• TIF is estimated to provide a rebate of 100% of residential SAD assessment on completed dwelling units (“DU’s”).
• TIF rebates are estimated to provide a rebate on a portion of commercial SAD assessments.
• TIF is currently approved for parcels which will be final platted by 9/30/25.
• Once a parcel is final platted, it remains qualified for TIF rebate on SAD assessments throughout the duration of the bonds.
• TIF program can be extended by the City in five year increments.
Southern Grove Community Development District
“CDD”
• Future master infrastructure can be financed via existing Community Development Districts (CDD).
• CDD can also provide conduit financing structure in place for future interior parcel infrastructure financing.
• CDD future annual assessments based upon amount of CDD bonds outstanding.
• CDD issuance mitigated by SAD funded infrastructure.
• Total CDD expenditures largely dependent on revised traffic studies.
• Buyer may choose to finance future improvements through other sources and receive a credit against CDD obligations.
Southern Grove CDD Estimated Annual Assessments
Land Use Volume Total Allocation Per Unit Estimated Annual Assessment
Single Family 55 or Less 2,000 $16,681,776 $8,341 $638.72
Single Family 55 - 66 1,529 $15,992,701 $10,459 $800.95
Single Family 67or More 614 $7,482,154 $12,186 $933.95
Multi- Family Units 2,498 $19,142,461 $7,663 $586.82
Apartment Units Total 1,995 $8,226,435 $4,124 $315.84
Retail SF Total 3,650,075 $44,201,475 $12 $.093
Office SF total 1,556,077 $8,513,977 $5 $.042
Research SF Total 1,597,602 $8,106,178 $5 $0.39
Warehouse SF Total 4,268,336 $26,283,829 $6.16 $0.47
Hotel Rooms Total 480 $3,344,015 $6,967 $533.49
Total $157,975,000
Tradition DRI Residential Communities
• Townhouses• Low-rise condos /Apartments• Neo-traditional• Cluster lots & custom estate lots• Gated – Conventional• Assisted Living• On Site Day Care• VA Nursing Home Site Selected -
2014• Approx. 3,500 homes built to
date, of 5,700 projected homes at build-out
Preventative, primary and acute hospital care, cancer care, wellness and rehabilitation services
Clinical trials with special focus on cancer research
H. Lee Moffitt Cancer Center partnership
1st phase 90 of 300 beds opened Dec. 2013$100 million +/- facility
Accelerated Phase 2 expansion including 90 beds, 170,000 Sq. Ft. under construction, $116 million expansion
