Florida Panthers owner proposes $2B mixed-use project in Sunrise

The holding company for the Florida Panthers proposes building a more than $2 billion mixed-used project on land surrounding Sunrise’s BankAtlantic Center.

BY PATRICK DANNER

pdanner@MiamiHerald.com

The company that owns the Florida Panthers has some bold plans for the land surrounding the hockey team’s lair in Sunrise. Sunrise Sports & Entertainment, the team’s owner, says the project — dubbed Oz — will exceed $2 billion in value when completed. It’s forecast to create 14,000 jobs with an estimated annual payroll of $443 million — not including the entertainment component. It says it will create $80 million in annual tax revenue.

”Oz will create a great, dynamic place for all of us to treasure, a great place to live, shop and work,” said Uri Man, vice president of development for Oz, in an e-mail. He added there is nothing in South Florida that compares with Oz.

Details of Sunrise Sports’ plans for the Sunrise property are outlined in a development of regional impact application filed with the South Florida Regional Planning Council, which reviews large-scale development projects. There are two other major mixed-use developments that have been approved nearby.

Sunrise Sports envisions breaking ground next year and taking 10 to 15 years to complete Oz. The company has assembled a development team, but Man said some parts of the project could be done in joint ventures.

The project will be privately financed, he said, adding that a special taxing district is being considered as a method to pay for infrastructure improvements.

Sunrise Sports’ proposed development follows two others recently approved by Sunrise commissioners.

Is there room for all three? After all, they would be built in the shadow of Sawgrass Mills, one of the largest malls in the country with more than 2 million square feet of shops.

”That’s something we’re going to have to evaluate,” said Sunrise Mayor Roger Wishner. “It’s a little difficult to look into the crystal ball at this time and determine whether there will be a problem.” Still, he said he was excited about Oz. ”It’s an extremely positive project for the community,” Wishner said.

Tags: City of Oz, Florida Panthers, Oz, Uri Man

Panthers launch development plan

South Florida Business Journal - by Darcie Lunsford and Daniel Kaplan

Mark Freerks

Land around the BankAtlantic Center is part of the Florida Panthers’ new development proposal.

Welcome to Oz, the real estate development that owners of the Florida Panthers hockey franchise are now proposing. The plan is to build the mixed-use district on the 139 acres that surround the BankAtlantic Center in Sunrise.

Panthers owners on Feb. 26 had a pre-application conference with the South Florida Regional Planning Council to lay the groundwork required to get entitlements to build Oz, according to council documents, which provided the first detailed summary of the plan.

Team owners have also been meeting with local government officials to gauge their level of acceptance for the entertainment and commercial district.

“A concept has been presented to us that they would like to do a theater district with multi-use [development],” Sunrise Deputy Mayor Donald Rosen said, noting that the city, which gave the land to county to build the arena, “can’t do anything unless the county says it is a go.”

At the heart of the project is entertainment to be operated by the New York-based Nederlander Organization, which runs about 30 theaters worldwide. President James L. Nederlander became an SSE partner last year, but provided no details about when Oz may rise.

“Right now, there is nothing I can talk about,” he said.

A project of such magnitude would likely have to be phased, according to government officials and real estate watchers. And the troubled economy would likely play a leading role in the timing of that.

“I would call it ambitious,” Stiles Realty President Tom Kates said of Oz’s scale. “Obviously, the catalyst is the arena.”

He said the project is certainly viable in that location, but could be considered dense for its suburban venue.

The nearby Sawgrass International Corporate Park houses about 4 million square feet of commercial space on 612 acres.

Sunrise Mayor Roger Wishner said he is reserving judgment on the Oz project until he sees a detailed proposal. But, generally, he said it stands to be a strong economic engine.

“Certainly, based on the conversations and discussions I have heard, the theater … would be first-class theater located here, and this would draw a tremendous population,” Wisher said.

According to the City of Oz Web site, the project would create an estimated 13,478 total new jobs in South Florida with a $226 million annual payroll at the job site and a overall $443 million annual payroll across the region, not including the theater.

dlunsford@bizjournals.com | (954) 949-7523; dkaplan@bizjournals.com | (212) 500-0722

Tags: City of Oz, Florida Panthers, Oz, Uri Man