Plan to replace PB County shopping center with 300 apartments hits obstacle
Gary M. Broidis
President at Atlantic Commercial Group, Inc./Licensed Commercial Real Estate Broker/Investor and Expert Witness
A developer is revising plans to replace a mostly vacant shopping center in northeast Palm Beach County with 300 rental apartments after the Juno Beach Town Council criticized the proposed redevelopment.
Members of the town council and residents of Juno Beach have complained that a 300-unit apartment development on the 11-acre shopping center site is too dense.
The Palm Beach County Commission will decide whether to grant final approval of the proposed redevelopment of the shopping center, called North Beach Plaza.
The shopping center is in unincorporated Palm Beach County, but it’s an area that Juno Beach may annex in the future, so the town can review the proposed redevelopment, too.
The company behind the proposal, Fairway Investments LLC, proposed tearing down the shopping center to clear the land for a gated complex with 300 apartments including some workforce-housing units.
The apartment development would be called Lenox North Beach.
Source: [Palm Beach Post] – Mike Seemuth
Principal
7 年What about integrating some retail on the lower level? That might be appealing to everyone! What is the market demand analysis for both apartments and neighborhood retail in the area?
BEAP, CEM, CSDP, HPDP, LEED AP BD+C, REP
7 年I live in the area and see many strip malls that are nearly empty. Drive on US1 and you will see for yourself. What I would like to see is developers embrace more energy and water efficient sustainable development. There really is great potential to do some special, and still be cost effective. Thanks
Vice President of Land at Holiday Builders
7 年Progress will happen when local government truly understands how to work with industry to create opportunities to better serve the first time home buyer. Instead of creating programs that motivate the home building industry to chase the most underserved segment of the market they continue to try and tax industry into provideing foresale housing at a loss to satisfy this demand for 1st time home owner ship (workforce housing). Less local governmental restrictions that allows for creative solutions will allow for new housing stock for this section of their constituents. A good read is the new proposed PBC work force housing ordinance. ?????? Tp
President at Mesa Real Estate Development
7 年This is the real frustrating part of the whole equation. Everyone complains that rentals are scarce and rents unaffordable , yet some of our illustrious elected uninformed officials refuse to approve residential developments rather have abandoned shopping center. Guess what we are beginning to see more and more of these abandoned shopping centers.
Returning Money to the TOP line while protecting the BOTTOM line.
7 年Affordable workforce housing is an issue and Govt blocks the progress to complain because it's too dense. I’m confused?