A New Lake Worth Multifamily Project is Moving Forward

A New Lake Worth Multifamily Project is Moving Forward

In October, the Palm Beach Planning Commission approved zoning changes for a new residential development between Wellington and Lake Worth. Construction is not scheduled to begin for years, but it looks like a new Lake Worth multifamily project is moving forward.

Polo Gardens

Polo Gardens is a recently proposed 348-unit multifamily project that would be built between Lake Worth Beach and Wellington. The land is currently used for equestrian and agricultural purposes and is owned by companies managed by Sheldon Rubin. Rubin began acquiring the property for the Polo Gardens project in 2014 and has invested approximately $7 million in the land.

The Palm Beach County Planning Commission voted 8-to-5 to approved zoning changes for the project. However, according to a report, some board members expressed concerns about the number of residential units and the building height proposed for the project. There has been discussion between the project’s developers and the commission about limiting the number of stories and units to 248. However, the developer is concerned about capping the number of housing units. The developer is amenable to reducing the commercial space from 140,000 square feet to 26,000 square feet. Additionally, according to reports, under its current proposal, Polo Gardens would have 17.5 units an acre on about 26 acres, more units per acre than any other residential developments in the area. Construction is not expected to begin on Polo Gardens for almost two years.

The Lake Worth Coalition

The Lake Worth Coalition sent a letter to the board opposing the project, expressing concerns that the new development would create undue congestion in the area. The group also opposed a ban on adding fast-food restaurants in the area. The developers agreed not to allow a gas station in the development.

Other Lake Worth Beach Developments

Downtown Lake Worth Beach is experiencing its own revitalization with the approval of 121-unit retail and office development at 1715 N. Dixie Highway that was recently approved by the CRA board. The project is planned to be built alongside The MID, a chic, modern 230-unit luxury apartment building. There are also up and coming business ventures in the setting up operations area, such as the new vodka distillery Dr. Spirits Co. at 604 Lake Ave. Dr. Spirits will be sharing space with the Texas-style barbeque restaurant, Doc Holliday’s BBQ Sports Grill. The owner aims for the distillery to be open in time for the Street Painting Festival in late February.

At Rabideau Klein, we have extensive experience handling real estate transactions in the Town of Palm Beach and in Palm Beach County. David E. Klein, Esq. and Guy Rabideau, Esq. are Florida Bar Board-Certified Real Estate Attorneys with the experience you need to manage all legal aspects of your Palm Beach real estate property transaction.  Contact Rabideau Klein today to discuss your real estate legal needs.

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