
Rendering of the Margate City Center.
Work is proceeding on the Margate City Center project.
At the September 9 Community Redevelopment Agency (CRA) meeting, the board passed a resolution approving Brookfield Holdings’ final concept design for the Margate City Center project.
When complete, the new mixed-use development is projected to produce $1.7 billion in economic impact through lease payments and tax revenue over the life of the project.
Margate is projected to gain $562 million in new tax revenue, creating a significant long-term funding source for public services.
The project will generate $250 million in ground rent and lease payments to the CRA, providing a revenue stream. It will create a destination for Margate that generates economic activity, attracts visitors, and supports local businesses.
According to city information, the first phase may include 350 residential units, stores, restaurants, and a pavilion for large events. The plan includes pickleball courts, park areas with a dog park, a children’s play area, and space for general recreation. Also, a presentation at the meeting said there will be a large parking garage for residents and visitors.
CRA Vice-Chair Tommy Ruzzano opposed the deal and said he believes the CRA could do a better job running the project than working with an outside developer.
However, Commissioner Arlene Schwartz said the city center project is important to Margate’s development.
City information says the city center will be located on 50 acres around the intersection of State Road 7 and Margate Boulevard.
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