New Cornerstone Details Emerge as Old Financial Building Crumbles

March 16, 2021 • By Guest Contributor

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By: Jen Russon

The demolition of Coral Spring’s oldest building is well underway, with plans to erect new shops and residential space at Cornerstone, including a 138-room boutique hotel.

The razing of the Financial Plaza on the southeast corner of University and Sample is a dramatic sight since the building was gutted a few weeks ago to make way for Cornerstone, what city officials are calling a rebirth of downtown Coral Springs.

Kristi Bartlett, Director of Economic Development, said the space should be cleared by May so that Predesco Property Investments can build the massive new shopping complex and residential area.

Rather than an implosion like ones seen in demolitions of old Las Vegas hotels, the Financial Plaza is coming down a much different way.

“They are going to take the shell down with an excavator that has an attached firehouse to reduce dust,” said Bartlett.

Both Bartlett and Media Relations Coordinator Alessandra Assenza said information on the specifics of the hotel and Mill Creek, a 352-unit residential property slated to be part of Cornerstone, are still unavailable.

“We are still in the demolition phase of this project. The developer has not finalized with a hotel yet and has not announced all of the businesses coming,” they told Coral Springs Talk in an email.

Cornerstone Demolition by Aiden Palmer.

The office of Predesco Property Investments confirmed that the construction of Mill Creek is expected to be complete by the start of summer 2023, with additional construction of Cornerstone running concurrently.

Aerial maps of the proposed boutique hotel at the site indicate it will be located at West Sample Road and NW 94th Avenue.