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A former jai alai fronton site near West Palm Beach is the proposed site for a $350 million, mixed-use project where condo owners would pay $15 a month to Tri-Rail.
The $23 million, 55-acre Mangonia Park property is under contract from boxing promoter Don King to Boca Raton-based E.B. Developers, with closing scheduled for Nov. 24.
At the initial presentation to the public and the Mangonia Park Town Council on Sept. 21, the 1,300- to 1,600-unit project drew objections from Palm Beach County Commissioner Addie Green and some town residents as being too dense.
The council is expected to have its first vote on the project Oct. 5.
If approved by council, the project is expected to take two years to clear other regulatory approvals and permits for groundbreaking. It will include up to 180,000 square feet of grocery, retail and bank space.
"Condominium owners in the community will each pay a $15 monthly assessment to Tri-Rail by way of their homeowners association dues and, in return, each will get 'employee discount' Tri-Rail fares and be eligible for special home financing rates," E.B. Developers Senior VP John Markey said.
The acronym behind the plan is TAD, which stands for Transit Assessment Development - "a public/private partnership, the very first of what may become a model for Tri-Rail station development," Markey said.
TAD, which Markey says he came up with, attempts to overcome worries about additional traffic having the Tri-Rail tie-in. That's also the leverage for the higher unit density per acre.
"It's a great idea for Tri-Rail to encourage transit usage with a very cutting-edge plan," Mangonia Park Town Manager Frank Spence said.
Strategic location
The former fronton property has an existing Tri-Rail stop, currently the northern end of the tri-county line, but it could develop into a significant transit hub.
Growth on the existing Tri-Rail track which bends to the northwest in Mangonia Park, could expand to serve the Pratt & Whitney complex and the proposed biotech village on the Vavrus property. Some political leaders have already started the push.
State Sen. Ron Mein, D-Delray Beach, sees the project as an opportunity to combine development of the property with an existing transportation backbone.
"It supports the community and should help maintain and upgrade...