West Palm mayor kills incentive plan for waterfront high-rises

Miami /
Nov.November 03, 2016 01:30 PM

An incentive plan that would allow for the development of waterfront skyscrapers in downtown West Palm Beach was nixed on Thursday.

West Palm Beach Mayor Jeri Muoio killed a proposed plan that would have allowed 30-story office towers in the city’s downtown waterfront – where only five stories are currently allowed. Its purpose was to encourage high-end office development, in turn attracting employers and their employees, the mayor said.

Office development has been limited in the area, and the plan would have incentivized historic churches to sell their development rights by changing the downtown master plan, according to the Palm Beach Post.

Residents who opposed the proposal said it would hurt new development away from the waterfront, like Jeff Greene’s One West Palm, create traffic and block water views.

Greene’s planned $250 million development, at 550 North Quadrille Boulevard, will take up an entire block and include two 30-floor towers that look like stacked blocks. One tower will have 200,000 square feet of Class A office space, and the other will include a five-star hotel with 209 guest suites and 84 luxury condo or rental units above that.

Greene said he wouldn’t move forward with the project, weeks away from laying its foundation, if the city approved the incentive plan, the Palm Beach Post reported.

West Palm’s Downtown Action Committee also opposed the proposal, which will now go back to the drawing board. [Palm Beach Post] – Katherine Kallergis


Related Articles

arrow_forward_ios
BoaVida's Eli Weiner with 1375 Military Trail (BoaVida Group, Goggle Maps)
California firms pay $39M for West Palm mobile home park
California firms pay $39M for West Palm mobile home park
From left: BlackRock's Larry Fink and Related Companies' Stephen Ross in front of 360 South Rosemary Avenue in West Palm Beach (Getty Images, LoopNet)
BlackRock lands in West Palm Beach
BlackRock lands in West Palm Beach
Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital)
Lease roundup: Tricera scores tenants in West Palm, Boca
Lease roundup: Tricera scores tenants in West Palm, Boca
Brand Atlantic Real Estate Partners managing partners Andrew Dance and Adam Demark, and renderings of the two buildings at 300 Banyan Boulevard and 111 Olive Avenue (Brand Atlantic Real Estate, Getty)
JV scores $87M construction loan for West Palm Beach office projects
JV scores $87M construction loan for West Palm Beach office projects
Domenic Gatto and Banyan Cay Resort and Club (Linkedin, Banyan Cay, Illustration by The Real Deal with Getty)
Developers of troubled West Palm resort project facing $61M foreclosure
Developers of troubled West Palm resort project facing $61M foreclosure
Related chairman and CEO Jorge Pérez in front of 4906 North Flagler Drive (Related, Getty Images, Zillow)
Standard Oil heiress’ widower sells waterfront West Palm Beach estate to Related Group for $16M
Standard Oil heiress’ widower sells waterfront West Palm Beach estate to Related Group for $16M
From left: One Flagler in West Palm Beach, 830 Brickell in Brickell, and Eighteen Sunset in Miami Beach (Getty, Related Southeast, LoopNet, Koniver Stern Group)
Spurred by new-to-market firms, South Florida office rents hit record highs
Spurred by new-to-market firms, South Florida office rents hit record highs
Rendering of the Olara development by New York-based Savanna in West Palm Beach with Savanna's Chris Schlank (Arquitectonica, Illustration by The Real Deal)
Olara is latest residential high-rise development planned in West Palm Beach
Olara is latest residential high-rise development planned in West Palm Beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...