A New York developer plans to redevelop its property south of downtown West Palm Beach into five condo tower plus retail buildings.
The developer, Time Equities, purchased the 9.3-acre site at 3111 S. Dixie Highway for $17.5 million in 2006.
Robert Singer, director of development for Time Equities, says that the plan calls for 300 high-end condos in five 15-story buildings set back 150 feet from the highway, 18,500 square feet of retail and restaurants in several buildings fronting the highway, and a one-acre public park. The parking garage would go along the railroad tracks behind it.
The plans are posted on developer’s site for the public. Singer said it plans to file the development application with the city in the next few months. It will request rezoning from office to general commercial, he said.
“These apartments will have incredible views that is what really differentiates the ability to sell condos,” Singer told the South Florida Business Journal. “We believe that this neighborhood is a better location than many people realize because it’s on Antique Row, it’s connected to many historic neighborhoods, and it has incredible open space.”
Robert Singer said the project would generate much more economic activity than the “dead parking lot” that’s on the property now.