Interest in City’s “Tent Site” Heating Up
May 13. 2013
(West Palm Beach, FL) – The city-owned piece of prime downtown real estate known as the “tent site” is again gaining a lot of investor attention.
The property is located at the corner of Lakeview Avenue and Quadrille Boulevard. Because of its central location, the city has said that it wants a signature, unique concept that will serve as an iconic image for the downtown area.
Over the past several months, there have been over a half dozen inquiries from various companies and individuals. The property is owned by the city’s Community Redevelopment Agency (CRA).
As a result of the calls, the city has met with individuals from at least four commercial developers seeking to build various types of projects on the site. But developers aren’t the only individuals reaching out to the city.
There are currently at three other groups that have contacted the city. All three groups have filed for confidentiality under Florida law. As a result, Florida statutes require their identities be withheld at least for now.
The Cleveland Clinic had previously approached the city about the property. Several discussions took place a few months ago between the CRA and the Cleveland Clinic. According to a story in the Palm Beach Post, the Cleveland Clinic was looking for more space to expand “out-patient procedures, diagnostic tests and medical offices.”
The tent site is the piece of property originally part of the agreement between the CRA and Digital Domain. Due to a “reverter clause” in the agreement, the city regained possession of the property following the digital media company’s collapse. Since then, the CRA has talked about putting the property back on the market.