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$500M West Palm Beach Development Stimulates New Investor JV
Avison Young’s Florida Capital Markets Group has secured and structured a joint venture transaction to invest in a transit-oriented, infill, mixed-use development spanning 10 acres in downtown West Palm Beach, FL. The joint venture consists of Globe Invest Limited, The Related Group, and BH Group.
The project, Transit Village, is valued at more than $500 million and envisioned as an above- and around-the-station hub for regional rail and bus lines. Transit Village is government-approved for approximately 1.5 million square feet of flexible zoning uses and $25 million in tax increment and grants.
Transit Village is located at the intersection of Banyan Boulevard and Clearwater Drive, one traffic signal from Interstate 95 and under three miles from the Palm Beach International Airport. It is directly connected to the Tri-Rail and Amtrak Station and the county bus transit center, and the site provides direct transit access to Palm Beach International, Fort Lauderdale-Hollywood International and Miami International airports.
- ◦Development
- ◦Financing
