Transforming a neglected parcel
JUPITER PARK OF COMMERCE
Opportunity:
The extension of I-95 had created a landlocked 100 acre parcel with approximately one mile of frontage on the planned highway. The land, in Palm Beach County, was zoned for residential and improved with dirt roads. Jupiter was growing but this land had been passed over.
Revisioning:
Assemble ownership through acquisition from over 25 different owners and by cooperative agreement. Annex the property into the Town of Jupiter, amend the comprehensive plan to industrial, and change the zoning to industrial. Plat the property into a modern business park design with full improvements, covenants, and restrictions to protect value. Empower a local drainage district to do the improvements and float bonds to pay for them. Negotiate with the Department of Transportation to provide physical access to the project, which was better than the alternative: condemnation.
Result:
Midgard brought a new "state of the art" business park to Jupiter with one mile of frontage on I-95. Land use was now compatible with the location, the park filled a real need for the growing businesses in the area, and land values were significantly higher than with the previous poor rural residential use.
