TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: December 9, 2025
Title
CITY CENTER PRESENTATION BY BROOKFIELD PROPERTIES
Body
BACKGROUND: After an Offering Memorandum (OM) was presented to the Board by Colliers International Florida, LLC, (Colliers) in October 2023, six developer responses were received which were shortlisted down to four at the September 2024 meeting. Three developers submitted updated proposals (one declined to submit) which were presented at the December 2024 meeting.
At the March 12, 2025 MCRA meeting, Brookfield Properties was selected by the Board as the developer with which to move forward with negotiations. A Memorandum of Understanding (MOU) was approved by the Board at the April 9, 2025 meeting which allows for a twelve (12) month exclusive negotiation period. Negotiations have been ongoing.
It should be noted that Brookfield Properties recently hosted a community outreach and public engagement event on October 28th from 6 pm to 8 pm at the Leonard Weisinger Community Center. They had renditions of conceptual plans on display and several members of the development team from Brookfield Properties were present to answer any questions.
Brookfield Properties will be presenting their latest conceptual plan as well as an update on the financial terms based on those plans.
RECOMMENDATION: For Board review
FISCAL IMPACT: N/A
CONTACT PERSON: Cale Curtis, CRA Executive Director