Request for Proposals: #01-1920 Development of Vacant Lot on Dixie Highway, Lake Worth Beach FL

SUMMARY OF RFP

PURPOSE:

The purpose of this Request for Proposals (RFP) is to solicit proposals for the development of a vacant, CRA-owned parcel on 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 or a significant commercial development. 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 Beach 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 Beach 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 the following parcels on North Dixie Highway.

THE PROPERTY: 1715 North Dixie Highway Lake Worth Beach, FL 33460
PCN 38-43-44-16-06-014-0010

Due to the COVID-19 declared emergency which has caused a significant adverse economic impact to the development community and the shutdown of all other non-essential businesses, the CRA has elected to extend the submission deadline of RFP #01-1920.

Effective April 20th, 2020 the original submission deadline of May 5th has been changed to June 23rd 2020 at 3pm. All proposals are still to be sent to the Lake Worth Beach CRA offices located at 1121 Lucerne Ave. Lake Worth Beach, FL 33460 no later than June 23rd.