Major Development Planned for Palm Beach Kennel Club Property
In a significant shift for the Palm Beach Kennel Club, a real estate venture has purchased a portion of its historic property near West Palm Beach for $20.9 million. This initial acquisition of 16 acres is part of a broader plan to acquire 42 acres, paving the way for an ambitious retail and residential development.
New Developments on the Horizon
The project is spearheaded by Terra Group, based in Coconut Grove, and Frisbie Group, a local entity. This collaboration aims to transform the site into an area featuring workforce housing, retail spaces, and a new casino, which is expected to open by 2027 with an investment exceeding $20 million.
What’s Included in the Plans?
- High-Quality Workforce Housing: A focus on affordable living options.
- Community-Centered Retail Spaces: Shops designed to foster local commerce.
- Entertainment Facilities: Incorporation of a new, state-of-the-art casino.
The new casino will replace the existing one and will provide around-the-clock services, ensuring the Palm Beach Kennel Club can maintain its historical presence in the local entertainment scene.
Significant Changes to the Property
The Palm Beach Kennel Club, which stopped live greyhound racing in late 2020, has shifted its focus toward new ventures after a statewide referendum banned the practice. The property has been in the Rooney family since 1970, but recent developments signal a change in its operational focus.
Planned Improvements
- Relocation of the Casino: The casino is set to be moved to the north side of the property.
- Zoning Changes: In December, the Palm Beach County commissioners approved new zoning laws enabling the construction of a 60,285-square-foot indoor entertainment complex alongside a four-story parking garage containing 900 spaces.
The Importance of the Project
According to County officials, developing the casino and transforming this part of the Congress Avenue corridor could serve as a major catalyst for revitalization in the area. The plans emphasize walkability, wellness, and community engagement, aiming to benefit both current and future residents.
Statement from Officials
"We aim to bring thoughtfully planned, high-quality housing and retail to the area," stated representatives from the Terra and Frisbie Groups. "Our development approach focuses on creating long-term neighborhood benefits."
Background and Historical Context
The Palm Beach Kennel Club has been a cornerstone of entertainment in the area since 1932, contributing to various forms of gaming and entertainment. Despite ceasing greyhound racing, the club continues to offer other gaming options like poker and simulcasting of races from across the nation.
Quotes from the Palm Beach Kennel Club
"[Palm Beach Kennel Club] has been offering entertainment and gaming since 1932, and we plan to continue well into the future,” mentioned the club regarding its ongoing operations post-redevelopment.
Conclusion
The significant investment in the Palm Beach Kennel Club property presents new opportunities for economic growth and community development. The redevelopment plan reflects a commitment to revitalizing the area and ensuring that it meets the modern needs of the local population. The first phase of this project is set to begin soon, with more details expected to emerge as development progresses.
For further information on this project and updates in the entertainment and real estate sectors in Florida, explore more about Palm Beach real estate developments and local community projects.