Reviving the U.S. 1 corridor in Lake Park, now the home of low-slung businesses built 50 years ago, is the subject of a public workshop today at town hall at 6 p.m.
“Bringing back the U.S. 1 corridor will be the rising tide to revive the rest of the community,” said John D’Agostino, town manager of the 8,700-resident community straddling U.S. 1 south of North Palm Beach.
Tapping into the demand for residential housing along the Intracoastal Waterway in north Palm Beach County - that is within walking distance from downtown jobs and fun stuff to do - is the goal.
“Lake Park’s portion of the Federal Highway corridor is the best kept secret in the northern Palm Beach County area. While it is highly accessible, it is unique in that it is surrounded by quaint historic properties and a downtown, large public spaces namely, Kelsey and Lake Shore Parks, the Lake Park Harbor Marina hidden gem, and prime waterfront just one block away along the entire stretch of Federal Highway. Lake Park’s Federal Highway corridor is ready for redevelopment”,” said Nadia Di Tommaso, the town’s community development director.
To pay for the plan, the town plans to use the $5.2 million in expected sales tax revenue from the one-cent county tax increase over 10 years. Also, developers will pay impact fees. And as more residents and businesses buy into U.S. 1, property values — and property-tax revenue — will increase, predicts D’Agostino.
The plan, which is expected to go to the town commission in January, calls for:
- Changing the commercial zoning to allow mixed use on both sides of U.S. 1 from Silver Beach Road north to Palmetto Drive.
- Condominiums and townhouses would be allowed fronting U.S. 1 on both sides. Residences would be on top with commercial on the bottom floors, like in Antique Row in West Palm Beach.
- Allowing buildings 15 stories and higher on the east side of U.S. 1 near the town’s marina.
- Allowing buildings on the east side north of the marina to be 10 stories and higher.
- Buildings along the west side of U.S. 1 could be six stories and higher.
- Landscaping, new lighting, bicycle lanes and construction of a median on U.S. 1.
- Improvements to Kelsey Park, including more parking, increased public access to the waterfront and a commercial/entertainment district.
To view the proposal, go to visionlakepark.com.