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
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
James "Jimmy" Finkelstein and Pamela Gross with 622 North Flagler Drive, West Palm Beach (Getty, Modern Living Group)
Media power couple buys West Palm Beach condo for $6M
Media power couple buys West Palm Beach condo for $6M
The $10 million West Palm Beach property (Douglas Elliman)
Auto insurance honcho buys West Palm Beach mansion for $10M
Auto insurance honcho buys West Palm Beach mansion for $10M
Tricera co-founders and managing principals Scott Sherman and Ben Mandell with One Clearlake office tower (Tricera Capital)
Tricera Capital, partners buy West Palm Beach office tower for $61M
Tricera Capital, partners buy West Palm Beach office tower for $61M
Vice President of investments at Marcus & Millichap C. Todd Everett and The Galleria International (Everett, The Galleria)
Downtown West Palm Beach office building, parking lot sell for $20M
Downtown West Palm Beach office building, parking lot sell for $20M
Value Store It President Carlos Diaz with the two properties (Diaz)
Value Store It buys two Palm Beach County properties for $35M
Value Store It buys two Palm Beach County properties for $35M
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
Nicholas and Caroline Rafferty and 6709 South Flagler Drive, West Palm Beach (Getty/Patrick McMullan, Google Maps)
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
Financial adviser and interior designer buy waterfront West Palm Beach house for $7M
arrow_forward_ios

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

Loading...