Wednesday, May 20, 2015

MIXED USE PROJECT TO REPLACE GOLF COURSE IN WEST PALM BEACH

I told you that one of the endangered species of a hot market was the golf course, along with trailer parks, and this is a story about one of these. You see these types of properties have huge tracts of land and when times are good there is no question that more money can be made by redeveloping the project. The main ingredient is always residential, and that is usually paired with retail and sometimes office space as well. In this case, The Patriot Golf Course, along Congress Avenue and Palm Beach Lakes Blvd., will transformed into the Sea Palm Resort. The new property will feature 94 single family homes, a 4 story hotel that will have 102 rooms, 48 condos and a 5,000 square foot spa. Before long this 119 acre golf course will be a thriving mixed use development that will be beautiful to look at. I really call this kind of development progress, and it is a win win deal in my opinion for both the developer and the City, who will see their tax coffers rise with the deal. Expect to see many more deals like this come together over the next 24 months. Golf is out for sure and development is back in a huge way. Land is just too valuable again to be used for golf and trailer parks and the banks are lending again. As always, thanks for reading and have a great day.

West Palm Beach approves golf course conversion project


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