The Strand West Palm Beach – SECURED ECONOMIC INCENTIVES
|Location||255 Evernia Street West Palm Beach, FL 33401|
|# of Units||275|
|Principals||American Land – Granvil Tracy, President|
|Investment Partner||Bob Whitney, Cornerstone Advisors|
- The land owner was asking record price on a per-foot basis for the site.
- Site was an unattractive surface parking lot.
- The area needed rejuvenation
|The Solution||By collaborating with the land owner and city government, we purchased the land and ultimately gained approval from the city to construct 295+/- residential units and 16,000 sq. ft. of retail space.|
|The Results||SECURED ECONOMIC INCENTIVES – Maximized development rights, negotiated a 5MM tax incentive package and eventually constructed the first residential high-rise in WPB in more than 25 years. West Palm Beach prospered as residents rediscovered downtown and we successfully transformed an unattractive parking lot into one of the area’s most recognizable residences.|