The Cordish Companies, a prominent Baltimore developer, announced plans Friday to partner with a Nevada-based casino and entertainment company to build an mixed-use complex encompassing the Isle Casino Racing Pompano Park in South Florida.
The project with Eldorado Resorts Inc., which owns the 223-acre-site around the casino and racing track, will include an office, residential, hotel, dining and retail elements. The property is about 10 miles outside of Fort Lauderdale in Pompano.
David Cordish, chairman of the Cordish Companies, said in a statement the companies were aiming for a development that "creates thousands of new jobs for the City of Pompano and South Florida, provides new amenities and attractions to the local population and attracts substantial new visitation to the region."
"I plan personally to spend significant time on the ground working to bring the development to fruition," he said.
Terms of the deal were not disclosed nor was the project value of the project.
The privately held Cordish Companies develops and operates hotel, casino, retail and restaurant projects around the Baltimore region and the country. In Baltimore, its developed Power Plant and Power Plant Live in the Inner Harbor as well as the Live Casino & Hotel at Arundel Mills in Hanover.
The company has replicated the Live brand in several states. In Florida, the Cordish Companies has develop the Seminole Hard Rock Hotel & Casinos in Hollywood and Tampa.
Eldorado Resorts owns and operates 20 properties in 10 states, including Florida.
"This development is an incredible opportunity to complement our existing gaming and racing facilities on the site and will become a vibrant destination for visitors to South Florida," said Elordado CEO Gary Carano in a statement.