MIAMI—Transit Village, a planned transit-oriented, mixed-use development in West Palm Beach, FL, is up for a joint venture investment partner. Avison Young is marketing the development.
“City and regional government officials' endorsement of Transit Village shows that West Palm Beach is indeed ready for the unique concept it provides to meet residential, office, retail and tourism demand while complementing transit infrastructure,” Avison principal John Crotty tells GlobeSt.com. “This is a rare opportunity to contribute to and benefit from the transformation taking place in the downtown West Palm Beach and overall South Florida region.”
Located at 150 Clearwater Drive, Transit Village is city-approved for multiple uses to total over 1 million square feet, including residential, office, retail, and hospitality, with the West Palm Beach Intermodal Transit Center on the ground floor. Currently the largest development opportunity in Downtown West Palm Beach with the tallest tower anticipated to stand at 25 stories, Transit Village presents a master condominium concept that allows each use to operate as separate elements.
“Transit Village creates a new standard for mixed-used development with live-work-play urban attributes that will contribute to the vibrancy of West Palm Beach, Palm Beach County, and the general Southeast Florida Region,” says Crotty. “Positive building incentives have already been put into place with the city and the county by existing ownership, as related to the transit-oriented development zoning to benefit the surrounding community.”
Transit Village is located in Downtown West Palm Beach just north of Okeechobee Boulevard at the intersection of Banyan Boulevard and Clearwater Drive. That's one traffic signal from Interstate 95 and under 3 miles from the Palm Beach International Airport.
“Palm Beach County is experiencing rapidly decreasing unemployment and office vacancy rates in a market where demand is outpacing new development,” says Crotty. “With the current economic indications for Palm Beach County pointing to a vibrant and healthy economy—one that is growing and thriving—Transit Village is a city infrastructure-friendly concept that will fill a significant need in the area currently supported by limited residential and commercial facilities and an overall lack of retail in the immediate vicinity.”
Beyond West Palm Beach, could Deerfield be the next hot spot? Check out my recent column for one opinion.
MIAMI—Transit Village, a planned transit-oriented, mixed-use development in West Palm Beach, FL, is up for a joint venture investment partner. Avison Young is marketing the development.
“City and regional government officials' endorsement of Transit Village shows that West Palm Beach is indeed ready for the unique concept it provides to meet residential, office, retail and tourism demand while complementing transit infrastructure,” Avison principal John Crotty tells GlobeSt.com. “This is a rare opportunity to contribute to and benefit from the transformation taking place in the downtown West Palm Beach and overall South Florida region.”
Located at 150 Clearwater Drive, Transit Village is city-approved for multiple uses to total over 1 million square feet, including residential, office, retail, and hospitality, with the West Palm Beach Intermodal Transit Center on the ground floor. Currently the largest development opportunity in Downtown West Palm Beach with the tallest tower anticipated to stand at 25 stories, Transit Village presents a master condominium concept that allows each use to operate as separate elements.
“Transit Village creates a new standard for mixed-used development with live-work-play urban attributes that will contribute to the vibrancy of West Palm Beach, Palm Beach County, and the general Southeast Florida Region,” says Crotty. “Positive building incentives have already been put into place with the city and the county by existing ownership, as related to the transit-oriented development zoning to benefit the surrounding community.”
Transit Village is located in Downtown West Palm Beach just north of Okeechobee Boulevard at the intersection of Banyan Boulevard and Clearwater Drive. That's one traffic signal from Interstate 95 and under 3 miles from the Palm Beach International Airport.
“Palm Beach County is experiencing rapidly decreasing unemployment and office vacancy rates in a market where demand is outpacing new development,” says Crotty. “With the current economic indications for Palm Beach County pointing to a vibrant and healthy economy—one that is growing and thriving—Transit Village is a city infrastructure-friendly concept that will fill a significant need in the area currently supported by limited residential and commercial facilities and an overall lack of retail in the immediate vicinity.”
Beyond West Palm Beach, could Deerfield be the next hot spot? Check out my recent column for one opinion.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.