Federal Realty Wants to Add 308 Apartments to Shops at Pembroke Gardens Mall
About 42 of the 308 units will be designated as workforce housing
By Julia Echikson May 3, 2025 10:36 am
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Apartments could be added to the Shops at Pembroke Gardens in Pembroke Pines, Fla.
Federal Realty Investment Trust filed plans to build 308 rental units on a 2.7-acre portion of the mall’s parking lot.
The Maryland-based trust wants to change the 41-acre property’s zoning from planned commercial district to mixed-use district. Nearly 15 percent of the apartments would be reserved as workforce housing for those earning up to 120 percent of the area’s median income.
The Pembroke Pine Planning and Zoning Board will hear the application on May 8.
Federal Realty purchased the 412,313-square-foot mall for $180.5 million in 2022. The acquisition price was $7.5 million less than what the seller had paid to acquire the asset in 2013.
Located at 527 Southwest 145th Terrace, at the junction of Interstate 75 and Pines Boulevard, the open-air shopping center is home to Nike, Sephora, Old Navy, DSW and Barnes & Noble stores, among others.
The move to add apartments appears to be Federal Realty’s first foray into multifamily development in South Florida. Within the region, the retail-focused trust owns the Tower Shops in Davie, Del Mar Village in Boca Raton, and Cocowalk in Miami, where it added offices.
A representative for Federal Realty did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
