We have just heard that as of Friday, May 30th, 2014, the City of Pembroke Pines is the proud owner of the Broward Correctional Institute (BCI) on Sheridan near HWY 27 for the sales price of $13 million and change. There was one other bidder, developer Ron Bergeron who bid around $9 million. The property is valued by independent property appraisers at $18 million, but by the Broward County Property Appraisers office at $10 Million.
The City of Pembroke Pines plans to sell the land to another developer, but wishes to control what goes there so they had to purchase it first. It will go back onto the tax rolls once a developer buys it and ultimately gets annexed into Pembroke Pines when our Florida Legislature is back in session.
Now would be a good time to reach out to the City of Pembroke Pines Commissioners to have a say in what gets developed... More details will be reported as we are made aware.
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