Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group closed on 170 acres in South Florida’s Coconut Creek as part of a $68 million deal. The property will be transformed into Mainstreet, a large-scale mixed-use development valued at $1 billion.

Located at the former site of the Johns Family Farm, Mainstreet will feature 12 development blocks with 792 apartment units, 414 townhomes, 148 villas, 296 condos and a retail district anchored by a grocery store, plus an open plot for a fire station or similar civic building. Notably, plans include 0 square feet of office space.

A village green at the development will offer play areas, a splash pad, dog park and performance pavilion. In an effort to preserve the property’s history and natural value, a dedicated space will pay homage to the land’s farming history, and 14 acres will be set aside as a wetland habitat featuring biking and walking trails.

Construction on Mainstreet is set to begin in late 2025.

“Closing on this property represents a historic milestone for Coconut Creek and the culmination of years of collaboration,” said Alex Rosemurgy, CEO of Rosemurgy Properties, on behalf of the joint venture. “Mainstreet will transform one of the last remaining large-scale sites in Broward County into a vibrant, walkable community that balances new homes, shops and civic amenities with thoughtfully designed parks and green spaces. We are proud to honor the legacy of the Johns Family Farm as we take this first step toward creating a true city center.”