Kimco Realty plans to redevelop its shopping center in Palm Beach Gardens by building a fitness club, rental apartments and commercial space there.
Kimco’s plan would transform Palm Beach Gardens Plaza, formerly known as Loehmann’s Plaza, a 14-acre property just east of Interstate 95 at the intersection of PGA Boulevard and RCA Boulevard.
The redevelopment plan arose from a lawsuit Kimco filed against the city of Palm Beach Gardens in 2013. Kimco sued after the city rejected its plan to put a BJ’s Wholesale Club at the shopping center.
In January, the city approved a settlement of the lawsuit with terms that require Kimco to submit a formal plan to redevelop the shopping center by December.
Kimco would build a three-story Life Time fitness club, 200 luxury apartments and 25 loft apartments, plus residential parking, retail shops, restaurants and office space. Kimco is a real estate investment trust based in New York. [Palm Beach Post] – Mike Seemuth