Royal Palm Beach to market 151 acres to builders

Miami /
Jul.July 30, 2014 09:45 AM

Royal Palm Beach is about to hire a broker to market a 151-acre former wastewater treatment plant site that was rezoned last year for residential development.

A village committee heard presentations from five real estate firms and selected West Palm Beach-based Douglas James Kirlan, which recently arranged the $77 million sale of the 1,200-acre Highland Dunes in Palm Beach County. Royal Palm Beach officials cited Kirlan’s request for a mere 1.5 percent commission on the sale as a major reason the firm was chosen. The contract with Kirlan is expected to go up for Village Council vote on Aug. 21.

Kirlan said in its proposal the company would meet with more than 25 of the biggest residential developers in South Florida about the Crestwood Boulevard land, according to the Palm Beach Post. Up to 302 homes can be developed on the site.

Back in 2010, village leaders discussed the possibility of a commercial real estate project with research space on the land. But many residents opposed the idea of businesses surrounding their neighborhoods. Focus then shifted to finding a residential developer for the site. [Palm Beach Post]Eric Kalis


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