Plans for South Florida's First 'Transit Village' in Hollywood, Fla., Take Shape; Sheridan Stationside Village to Include Needed Housing, Retail, Offices and Hotel

March 20, 2006

HOLLYWOOD, Fla., March 17 /PRNewswire/ -- Builders of the planned 38-acre Sheridan Stationside Village today released new details for a dynamic community linked with public transportation that includes a mixture of workforce housing, condominiums and townhomes, along with retail and office space, a hotel and mass-transit parking. The mixed-use community is believed to be the first development to be constructed under Florida's new Transit Oriented Development (TOD) land-use designation, which is reserved for mixed-use communities that are adjacent to and encourage the use of mass transportation for residents and visitors. It is located at the Sheridan Street stop on the Tri-Rail commuter railroad service and has easy access to Broward County Transit buses. The Village, located between I-95 and the CSX railroad tracks at Sheridan Street, is being developed by Stationside Village Associates, LLC, an affiliate of Pinnacle Housing Group of Miami, in partnership with Ram Development Company of Fort Lauderdale. "This is one of the most unique developments to be built in Florida, as it simultaneously addresses the region's need for quality housing and the creation of a mixed-use community that features mass transportation," said Michael Wohl, a partner in Stationside Village Associates. "This will be a beautiful Village designed by a team of award-winning architectural firms," said Wohl. He said the master planner will be the national firm of Cooper Carry of Atlanta, Ga., known in South Florida for its work on Mizner Park in Boca Raton and on many of the new buildings in downtown Fort Lauderdale. Cooper Carry will be working with local architects Marc Wiener and Roger Fry, both prominent architects in South Florida. The developers have been working closely with the Center for Transit Oriented Development, a nonprofit organization that helps regions and communities around the country seeking a clearer understanding of the potential for transit-oriented development and the steps necessary to achieve that potential. "The homeowners in the Village could conceivably get by with only one car, as we anticipate many people will work in the Village itself or commute to work on the Tri-Rail system," said Casey Cummings, president of Ram Development. "Public transportation must be easily accessible if we are to get commuters off the roads and into trains and buses." The project is being built on a former Florida Department of Transportation park-and-ride lot and abutting land at Sheridan Street and the CSX railroad tracks, which are currently being double-tracked for increased Tri-Rail service along its full 72-mile route from Miami to just north of West Palm Beach. The Hollywood City Commission has approved the Transit Oriented Development designation and given preliminary approval for the development, and a new land-use plan amendment is being filed with the city today. The project is consistent with the city's master plan, which was created in 2001 and envisioned mixed-use transit-oriented development at this site. The plans call for up to 1,600 housing units, 300,000 square feet of retail and office space, a 150-room hotel and a 793-space parking structure for Tri-Rail riders. Stationside Village Associates, LLC, is an affiliate of Pinnacle Housing Group of Miami, which develops market-rate and affordable housing communities throughout Florida, and Ram Development Company, which develops, acquires, leases and manages retail and multifamily real estate with offices in Fort Lauderdale and Palm Beach Gardens.

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