Bowing to nearby property owners, Palm Beach County commissioners told developer Michael Masanoff he needs to scale back his plans for a massive mixed-use complex near the Tri-Rail station in downtown West Palm Beach, the Palm Beach Post reported.
Commissioners have continuously pushed the “transit village” plan through over the objections of the community, but stopped short of approving a plan that calls for 775,000 square feet of retail and office space, 120 apartments, 40 condominiums and 400 hotel rooms on a six-acre site along Tamarind Avenue, between Banyan Boulevard and Fern streets.
The county owns the land and would sell it to Masanoff, the lone developer who responded to a request for proposals in 2010, for $100,000. However, the Post said the commissioners are reviewing that part of the agreement, as a county appraiser estimated the land to be valued at $8.2 million.
Government officials like the plan because it would bring development to underutilized space that’s adjacent to the Tri-Rail station, making it an easily accessible destination. [Palm Beach Post]