Request for Proposals: #02-1819 Development of Vacant Lots on Dixie Highway (Expired 9/4/19)

SUMMARY OF RFP

Overview of the City

The City of Lake Worth Beach is located on the southeast coast of Florida, in Palm Beach County, just south of West Palm Beach and north of Delray Beach, FL. Although development in Lake Worth has been sporadic for the last 50 years, development pressure from both the north and south have made the City a focal point for new investment. The City is determined to attract new residents, businesses and activities while still remaining quaint, distinctive and authentic. Lake Worth Beach is known as the place where art is created due to the many artists who call Lake Worth Beach home. It is home to such cultural institutions as the Cultural Council of Palm Beach County, the historic Lake Worth Playhouse, Benzaiten Center for the Creative Arts and hosts the Street Painting Festival, Pride Fest and Dia de los Muertos. It is also well known for its inclusive environment and its diverse ethnic make-up

The available sites are located on North Dixie Highway, in an area undergoing significant redevelopment. On the block to the south, a new mixed-use development was recently approved by the City Commission. That project, by Affiliated Development, will include 230 apartments and just under 10,000 square feet of commercial space. Also, just west of Dixie Highway and off of 19th Avenue North, 59 new single family homes are under construction by Meritage Homes. Values in this area have been steadily rising in recent years as more residents move to the area for its close proximity to everything Lake Worth, including the arts district, recreational activities, live entertainment and the beach, which is just over a mile away.

Purpose

The purpose of this Request for Proposals (RFP) is to solicit proposals for the development of a vacant, CRA-owned parcel on or adjacent to North Dixie Highway, between 17th and 18th Avenue North in the mixed-use, Dixie Highway area (corresponding land use regulations are attached). The CRA is seeking proposals for a mixed-use development that takes advantage of the Sustainable Bonus Incentive Program, allowing for additional height, density and intensity. It is the CRA’s intention to competitively select a Developer with the proven ability and interest to construct and own the property once developed.

The CRA is interested in receiving proposals that provide the most transformative opportunity for the area and deliver the optimal return on investment. Interested development teams must submit qualifications, a design concept and a financial proposal.

Background

The Lake Worth CRA has undertaken both housing and commercial property development over the last decade. The goal of the CRA is to spur private investment and improve property values in the District. In 2010 the CRA was awarded $23M from the Department of Housing and Urban Development for the development of at least 100 new or rehabilitated affordable housing units. The Lake Worth CRA and its partners, far exceeded this goal and, to date, created over 175 residential units. Other projects associated with the purchase of formerly blighted properties has also lead to the development of over 12,000 square feet of commercial space. With the development of commercial space, local jobs were created, meeting a NSP-2 National Objective. The CRA is seeking to continue the development of housing choices while also creating additional local job opportunities. In 2016, the NSP-2 program wound down and the CRA turned its focus to commercial and mixed-use development. To help incentivize development by assembling parcels, the CRA procured a line of credit. With those funds, the CRA was able to buy multiple parcels in the District, including these parcels on North Dixie Highway...

 

To obtain this document, please call 561-493-2550 or email your request.
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