| Executive Summary: | The Davie Community Redevelopment Agency (“CRA”) owns six parcels along Davie Road consisting of 5.6 acres that have been slated for redevelopment (see location map).
On October 2, 2025, the CRA received an unsolicited Letter of Intent (LOI) from Affiliated Development (“Affiliated”) to redevelop a portion of the aforementioned CRA property. On October 7, 2025, the CRA received an unsolicited Letter of Intent (LOI) from White Oak Development (“White Oak”) to redevelop the entire CRA property.
The CRA then advertised the property as a collective surplus to allow the public the opportunity to submit proposals between October 11 through November 12, 2025, via the Sun-Sentinel and the Town website. On November 12, 2025, CRA received a third LOI from Sankofa and Dominion Development Partners (“Sankofa”).
Upon reviewing the three LOIs, CRA staff presented a Request for Information (RFI) to Affiliated, White Oak and Sankofa to obtain additional details and provide further clarification. Below is an assessment of their proposals, including the LOI’s:
Affiliated Development
Per Affiliated’s website, Affiliated Development is a national real estate investment and development company headquartered in Fort Lauderdale, FL. The company was formed with the goal of building mixed-use multifamily developments that target unmet demand and underserved areas within the market.
Affiliated proposes a mixed-use project called “The Maverick” which would include 257 residential units, of which up to 80% could be allocated for workforce housing, and 6,000 square feet of commercial space. The conceptual site plan includes a four-story building with ground floor retail and a plaza at the northwest corner of Davie Road and Orange Drive. The residential configuration will consist of one-bedroom, two-bedroom and three-bedroom units. Affiliated is offering to lease the property for 99 years or purchase with an initial payment of $35,000 per residential unit or $8,995,000 and $1 per year thereafter. Their parking garage would provide 80 public parking spaces for the Town at a cost of $2,800,000. Affiliated’s timeframe anticipates site plan approval by the end of 2026. Finally, they would request incentives totaling $5 million for the 50% workforce housing. If the amount of workforce housing was reduced to 20% workforce housing, the incentive would be $1,020,000.
Sankofa
Per Sankofa’s proposal, the principals of Sankofa and Dominion bring extensive experience in higher education and workforce-oriented housing. Collectively, they have served as part of development and advisory teams responsible for obtaining approvals for over eight thousand student and workforce housing units across South Florida. Their work has led to the delivery of faculty and student residences that balance quality, affordability, and long-term community integration.
Sankofa proposes a student housing/retail project called “Frontier Village” which would include 197 student units, of which 20% is allocated for workforce housing, and 26,843 square feet of retail space which is allotted to student workspaces and live work space. The conceptual site plan includes a five-story building with ground floor retail and dog park on the north side of the property. Please note five stories would require a Town variance. The residential configuration will consist of one-bedroom, two-bedroom and three-bedroom units. Sankofa is offering to purchase the property for $4,552,000. Their parking garage would provide up to 100 public parking spaces for the Town at a cost to be determined. Sankofa’s timeframe anticipates site plan approval by end of 2026. Finally, Sankofa anticipates incentives including a major construction grant for eligible hard costs, impact fee relief, and tax increment financing and did not specify an incentive amount.
White Oak Development
Per White Oak’s website, White Oak is a boutique commercial real estate company that specializes in developing multifamily and mixed-use communities. Their mission is to build transformational communities that enhance the lifestyle of our customers while at the same time delivering superior results for our partners.
White Oak’s LOI proposes a development consisting of 240 residential units with 20% allocated for workforce housing and 7,500 square foot restaurant. The restaurant is proposed as a separate standalone one story building along Davie Road with its own parking. The conceptual site plan includes a four-story building with open space/public art area along Davie Road and the restaurant on the north side of their project as a separate outparcel. The residential configuration will consist of one-bedroom, two-bedroom and three-bedroom units. White Oak is offering to purchase the property for $40,000 per residential unit or $9,600,000. Their parking garage would provide 110 public parking spaces for the Town at a cost of $2,820,000. White Oak’s timeframe anticipates site plan approval by end of 2026. Finally, they would request waiver of parks and recreation impact fees anticipated at $151,000. As a note, the Town has currently suspended the collection of impact fees.
Staff Recommendation: Staff recommends that the CRA negotiate first with White Oak, Affiliated next if White Oak negotiations are unsuccessful and Sankofa third if White Oak and Affiliated negotiations are unsuccessful. Staff’s recommendation is based on comparing Affiliated and White Oak’s proposals based on 20% workforce housing. In this comparison, White Oak’s project pays a higher price based on the net revenue, provides 30 additional public parking spaces and the slightly greater commercial space. Sankofa’s proposal was challenging due to the additional height (5th habitable floor and lack of clarify regarding the parking space compensation and proposed incentives.
This CRA resolution will approve the surplus of CRA parcels (Folio Numbers 504127040670, 504127050050, 504127050060, 504127050070, 504127470010 and 504127470011), authorizes the CRA Chair to execute the LOI with White Oak and directs CRA staff to negotiate a purchase and sale agreement and developer’s agreement with White Oak for CRA Board consideration. If negotiations with White Oak are unsuccessful, CRA staff is directed to negotiate with Affiliated and if successful, bring forward a purchase and sale agreement and developer’s agreement with Affiliated for CRA Board consideration. If negotiations with Affiliated are unsuccessful, CRA staff are directed to negotiate with Sankofa and if successful, bring forward a purchase and sale agreement and developer’s agreement with Sankofa for CRA Board consideration. |