All Aboard Florida revealed the size of its proposed residential tower in West Palm Beach in a development application to city officials.
All Aboard is a $2.5 billion passenger rail project that will connect Miami to Orlando, with stops in Fort Lauderdale and West Palm Beach, by 2017. AAF is building a station along Everia Street for its passenger rail.
The city agreed to sell a nearby property to AAF for $3.8 million in exchange for building an access road from Clematis Street to the station. The company could use property tax revenue to cover its costs for building the road.
According to the pending development application with the city, the 1.27-acre site would have 275 residential units, 13,472 square feet of ground-floor retail/restaurants, 3,668 square feet of office, and an 800-space parking garage with an amenity deck. The restaurants would have outside dining.
It was designed by HKS. The application said the project would connect CityPlace with the Clematis Street shopping and entertainment district.
“The new residential tower’s 275 units will bring full time and seasonal residents to downtown West Palm Beach and its retail component will activate the street,” the application said.
The building could be completed in mid-2017. Part of AAF’s strategy has been to build large commercial projects near its stations, as it is doing in Miami as well.
“We are excited about the investments we continue making in West Palm Beach and Palm Beach County,” AAF said in a statement. “The proposed mixed-use development will provide much-needed rental apartments and a mix of retail across from our passenger-rail station. We have received very positive feedback from the city and downtown community, and we look forward to working together as plans progress.”
***** ***** Brian Bandell – Jun 15, 2015, 11:40am EDT Photo Courtesy: Biz Journals
Link to original story
