State seeks development proposals for Sheridan Tri-Rail station

The Florida Department of Transportation has issued a request for proposals (RFP) to develop 18.8 acres near the Sheridan Street Tri-Rail Station in Hollywood.

The proposed transit oriented development would be on the state-owned park-and-ride lot. FDOT could lease the land to a private developer, who would be requested to maintain at least 809 commuter parking spaces and related transportation facilities. The state hopes a developer will build a project to complement the passenger rail and bus stations there.

Tri-Rail extends from West Palm Beach to Miami International Airport. It’s lining up funding for an expansion to downtown Miami in a few years.

FDOT awarded a ground lease for the property in 2005, but the project stalled during the recession and was terminated in 2012. Now there’s a wave of apartment development sweeping South Florida and sites near public transit are finding favor because commuters are looking for relief from ever-worsening traffic congestion.

The two parcels that FDOT is issuing an RFP for have been planned for 300,000 square feet of commercial use, 245,000 square feet of office space, a 150-room hotel, and 550 mid-rise units.

Ram Realty Services and Pinnacle Housing Group are currently building 336 apartments near Sheridan Station on privately-owned land. The potential development of the FDOT property would be in addition to that.

To inquire about submitting an RFP for Sheridan Station, email SheridanStation.TOD@dot.state.fl.us

The Florida Department of Transportation is looking for a developer to build on the park-and-ride lot at Sheridan Tri-Rail station.

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Story by: Brian Bandell – Aug 12, 2015, 10:25am EDT
Photo Courtesy: Biz Journals

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