Caesars Entertainment and Cordish Companies currently remodeling the Isle Casino Racing property in Pompano Beach, Florida shared a plan to establish 1.5 million square feet of industrial space.
The Proposed Change Reduces the Size of the Space Initially Planned for Offices
There are two companies currently remodeling the Isle Casino Racing property in Pompano Beach, Florida. The plan for the 223-acre property may include an industrial space by decreasing the size of the office spaces. Caesars Entertainment and Cordish Companies have shared their intent to change the zoning plan and add 1.5 million square feet of industrial space.
Previously, the maximum amount of office space was set to be 2 million square feet. But with the proposed changes, it will be reduced to 1.35 million square feet or in other words, a reduction of 650,000 square feet. With that in mind, the other components of the Isle Casino will not be changed. Upon completion of the project, 300,000 square feet will be used for retail. There will be 950 hotel rooms and some 4,100 residential units. Furthermore, the property will be branded as Live! Resorts Pompano and will include a horse track and casino.
The 1.5 million square feet industrial space could employ some 1,200 people. Currently, due to a non-disclosure agreement, Cordish Companies are not allowed to reveal the name of the company planning to occupy the area. But local news outlets have speculated that there is a possibility that the industrial space may be used by the giants Amazon or Walmart.
A Decision Driven by the COVID-19 Pandemic
In a virtual meeting with city commissioners on Tuesday, David Cordish, chairman of the Cordish Companies deemed that the decision was pushed by the pandemic. He said: “What happened to us has happened all over the country as COVID has caused offices to work remotely.” He acknowledged that the industrial part of the project is not a part of the Cordish Companies’ “core business”. Cordish said that the entertainment, residential and retail venues part of the project remain the focus of the company.
According to the Cordish Companies application submitted with state officials, the industrial space will be used as a warehouse/logistics center. “The industrial is expected to be one of the first COVID-19 economic recovery projects on the property as this use has remained active throughout the COVID related economic shutdown,” said the company. Furthermore, the application outlines that the use of the industrial space is likely to attract office users and “stimulate demand for new housing construction”.
The state commissioners voted 4-2, allowing the changes in the Isle Casino Racing property to be heard again in October. However, this sparked a discussion as residents living nearby expressed their concerns about having a warehouse or logistics center. Cypress Bend and Palm Aire residents complained that they were not notified about this change. Thus, the residents protested the establishment of industrial space. According to them, such an establishment could heavily impact the traffic in the area. Mayor Rex Hardin also commented on the subject by saying: “I didn’t get a single positive email on this project.“