Mayla Pompano Revitalizes Atlantic Boulevard
Mayla Pompano is the first market rate residential project of its kind within the East CRA District boundaries. The $102 million project features two 8-story mid-rise buildings, two parking structures, 53 workforce housing units, and an active public plaza at the northwest corner of East Atlantic Boulevard and NE 24th Avenue, with all the existing office/retail frontage along the boulevard remaining for a true mixed-use development.
This historic project transpired thanks to the Pompano Beach CRA’s Real Estate Development Accelerator Program (REDA) program.
“Vacant land provides substantially less property tax revenue to the City compared to a vibrant mixed-use project,” explained Nguyen Tran, CRA Director. “To attract high-caliber developers, such as Grover-Corlew, to redevelop an area, CRAs create incentives using Tax Increment Financing. This rebate on future money becomes a win-win situation for the City. We are excited to see this area thrive with new residents and businesses.”
Mayla Pompano was built on nearly 3 acres including former surface parking lots. The development is located behind two office buildings owned by Grover Corlew.
“We are excited to introduce Mayla Pompano luxury residences to the South Florida market and we’re very appreciative of the support and partnership we’ve received from the Pompano Beach CRA throughout this development process,” said Partner Anuj Grover. “The 355-unit pedestrian-friendly community received its temporary certificate of occupancy earlier this month and is already 40 percent leased. Mayla Pompano has been well received by prospective tenants due to its sophisticated interior features, lifestyle-oriented amenities, ample parking and easy walkability to the beach, restaurants, night-life and all that the East Atlantic Boulevard has to offer.”
“Mayla Pompano is anchored by Grover Corlew’s 2401 and 2335 East Atlantic office buildings, which are currently undergoing vast interior and exterior renovations, with the addition of a future restaurant site, ground-floor retail and green plaza space,” added Partner Mark Corlew. “Our ultimate goal is to transform this corridor in the heart of Pompano Beach into a thriving destination for dining, shopping and entertainment, with unparallelled walkability for our residents and neighbors.”
The amenity rich residences include a two-story clubroom, co-working spaces, a TV lounge, a fitness center with a yoga-aerobics room, resort-style pools with cabanas, and a dog spa. A grand opening ceremony will be announced soon!
