Monday, October 29, 2018
|SOUTH FLORIDA TOWN SEEKS DEVELOPERS FOR MIXED-USE MASTER PLAN|
|Lake Park Florida is inviting developers to take a closer look.|
|Published Wednesday, May 2, 2018|
Lake Park, a quiet Florida town of almost 10,000 people, has the same brilliant sunshine as its neighbors in Palm Beach County and an alluring stretch of waterfront along the Intracoastal Waterway. But Palm Beach, Boynton Beach and Boca Raton get all the attention. If only Lake Park could find a nice development partner to settle down with, together they could create a bouncing little mixed-use district.
Lake Park has long been overlooked for development, but its leaders have recently become more proactive. The Lake Park Town Commission hired consultants, came up with a redevelopment plan, and is now inviting developers and bankers for tours.
Whereas condos in nearby Jupiter and North Palm Beach sell for $1M a pop, Lake Park offers similar views for about $200K. Although the town has experienced problems with street gangs, panhandlers and sober homes in recent years, it has also attracted trendy businesses like a music venue, the Kelsey Theatre, and a gastropub/brewery.
About a year ago, the town hired Redevelopment Management Associates, a Pompano Beach consulting firm founded in 2009 by Kim Briesemeister and Chris Brown, who wrote the book "Reinventing Your City: 8 Steps to Turn Your City Around." Over the past year, RMA helped evaluate parcels, gather input from stakeholders and draft a comprehensive plan and zoning amendments.
The plan, called Vision Lake Park, calls for development in an 80-acre area near a waterfront/marina, public parks and a historic downtown district. Commissioners changed land use and zoning regulations to allow taller buildings, increased density and a mixed-use corridor along Federal Highway.
“Lake Park is a developer-friendly city,” Brown said in a statement. “The city’s leaders are looking to transform this corridor with ground floor commercial structures as well as 3- to 15-story condominium and apartment developments. The goal is to create a walkable, connected community that will provide the city with a more diverse tax base to better serve its residents."
Town leaders are inviting top developers, bankers and brokers to meet at the Lake Park Marina May 9 from 5 p.m. to 9 p.m. for an information session and trolley tours.
Nadia Di Tommaso, the town’s community development director, has said that, with large public spaces, a quaint downtown and prime waterfront acreage, "Lake Park’s portion of the Federal Highway corridor is the best-kept secret in the northern Palm Beach County area."
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