Developers buy 170 acres — one of Broward’s ‘last’ sites of its kind — for $68M
Developers have closed on a $68 million deal to acquire 170 acres of mostly former farmland near the Promenade at Coconut Creek.
It’s part of a long-standing effort to create Mainstreet Coconut Creek, billed as the future mixed-use downtown area for the city. The development is bounded by Wiles Road to the north, Sample Road to the south, State Road 7 to the west and Lyons Road to the east.
“Mainstreet will transform one of the last remaining large-scale sites in Broward County into a vibrant, walkable community that balances new homes, shops and civic amenities with thoughtfully designed parks and green spaces,” Alex Rosemurgy, CEO of Rosemurgy Properties, said in an Oct. 20 news release.
GSR RE Partners LLC was the contract purchaser for the joint venture, which includes Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group.
The development is expected to have over 2,000 housing units, including apartments, townhomes, villas and condos. It will also feature dining, retail, parks and paths for walking and biking.
Mainstreet will take over the Johns Family Farm, which was started by Joe and Eva Johns when they moved from North Florida in 1918 to farm beans. Their son ran the farm until his death in 2009, and records show an LLLP called Johns Family Partners was responsible for selling most of the land to the developers.
“We are proud to honor the legacy of the Johns Family Farm as we take this first step toward creating a true city center,” Rosemurgy said.
A portion of the property was then sold to a land bank working with Miami-based Lennar Homes for just north of $40 million. As part of the deal, Lennar will share part of the proceeds of each home sold with the joint venture, according to records dated Oct. 17.
The Mainstreet development has been in the works for decades. The city first adopted a plan to create a pedestrian-friendly, mixed-use downtown area in 2004.
“Closing on this property represents a historic milestone for Coconut Creek and the culmination of years of collaboration,” Rosemurgy said.
The value of the project is expected to total over $1 billion, according to Rosemurgy Properties.
This story was originally published October 24, 2025 at 12:10 PM.