This action might not be possible to undo. Are you sure you want to continue?
S MART B UILDING —IT’ S G OOD TO B E G REEN ..... 3
E CONOMIC B ENEFITS OF THE P ROJECT ................ 4
West Palm Beach
ADDRESSING THE FUTURE OF THE CHAPEL BY THE LAKE—PROGRESS ALONG THE PATH
“This waterfront location just outside of the official downtown WPB area, is an important signature project for the City.” Dennis Grady, Chamber of Commerce
Celebrating new energy on the Waterfront
Plans have been proposed to construct a
new ultra-luxury condominium building with only 96 residences on the West Palm Beach waterfront parcel located at 1112 South Flagler. The contemporary building, designed by award-winning architectural firm, Solomon Cordwell Buenz incorporates the latest design trends providing exquisite styling, innovative floor plans, and lush landscaping with water features along Flagler Drive. The building has been positioned on the North and East ends of the property in sensitivity to the concerns of its nearest neighbor, the 111-unit Trianon Condominium. This location, well setback from Flagler Drive, allows for creation of a heavily landscaped front lawn highlighted with a cascading water feature on Flagler Drive. In addition, all parking will be concealed within the building. En-
hancements to improve the pedestrian experience are designed on both the
East and West sides of Flagler Drive. Four city blocks (almost 800-feet) on the West side will include well-maintained landscaping, pedestrian walkways and linear parks. GAK LLC has committed to constructing the building utilizing Green Building practices which provide for reduced environmental impacts on an ongoing basis. And, as a matter of standard practice, they will utilize minority contractors in the building process.
Did You Know?
The Chapel by the Lake was created in 1962 by First Baptist Church from land filled in on the Intracoastal. Now First Baptist Church would like to sell the parcel for condominium development to fund improvements to their Flagler Campus, as well as expand their ministry. This includes investing in 100 new Churches across South Florida, the hiring and training of Pastors and Staff, as well as using resources to meet the needs of the poor, hungry, and medically needy.
Snowmass Village Colorado
John Hancock Center Chicago
The Elysian Hotel & Private Residences, Chicago
The Bristol Chicago’s Gold Coast
GAK LLC Credentials
G.A.K. partners, LLC is a joint venture by affiliates of Chicago-based Golub & Company, Detroit-based Commercial Financial Management and Miami-based Elion Real Estate Partners. The combined expertise GAK brings a unique advantage for sucCHAPEL BYofTHE LAKE cessful projects. GAK provides a global approach to real estate development while incorporating necessary local experience and maintaining sensitivity to local concerns.
Golub & Company, a privately held real estate investment
and development firm founded more than 50 years ago has developed, owned, managed or leased more than 45 million square feet of commercial office space and 50,000 residential units. In addition to domestic activities the company has also developed projects throughout Central and Eastern Europe. Overall, the firm has been involving in more than $8 billion in real estate transactions. With a team of dedicated professional providing ''Best- In- Class" real estate services, Golub has earned a reputation as a highly respected and innovative international development company.
Commercial Financial Management has been owned
and operated by Allan R. Adelson for over 45 years. The Detroit based commercial property management firm has owned, operated, and managed over seven million square feet throughout Michigan, Ohio, Florida and Colorado. Mr. Adelson has been a partner or participant in over 70 limited liability corporations during his 45 years of experience in the real estate business.
Elion Real Estate Partners was established by Jack Azout
and Shlomo Khoudari. Their affiliated companies have operated as a fully integrated real estate company based in Miami, Florida since 1992. Elion is horizontally diversified with divisions devoted to development and acquisition of commercial real estate, leasing, property management, brokerage, site development, vertical construction and construction management.
Current Land Use Analysis
Why it’s Good To be GREEN
S MARTER B UILDING :
Q: A question frequently asked concerning the Chapel by the Lake property is “What uses are currently allowed on the property other that the amphitheatre and parking?” A: The answer is found by examining the existing designated Land Use
assigned to the property. Currently there are two Land Use Designations on the Property – CS (Community Service) and MF (Multifamily). Most of the property (2.634 acres) is designated CS. CS (Community Service) allows for the current church use and other institutional uses such as Colleges, Funeral Homes, and Cemeteries. CS also allows for hospitals and offices (both professional and medical). Given that the Church has made a decision to sell the property, if the current residential proposal was not approved, the most likely alternative private use would be Office. The remainder of the property (.577 acres) is designated MF (Multifamily) as is the neighboring Trianon Property. The MF Land Use allows multifamily residential construction up to a density of 32 units per acre. In this case, the current acreage would permit 18 residential units on the small area. An analysis was performed assuming that a buyer of the property only used the property for what is entitled by the current Land Use. Most likely the buyer would want to maximize the use which in this case would allow 86,052 square feet in a 60’ foot high building. In order to meet City parking requirements 430 parking spaces would be required necessitating a multilevel parking structure. The result is graphically depicted above as it would be viewed from Flagler Drive. In addition to the wall of buildings resulting, the impact of 430 cars coming and going all day would be significant as compared to the current low impact residential proposal.
One of the goals of the 1112
South Flagler project is to create a building that is energy efficient, healthy and makes a positive impact on the environment and community. LEED Silver rating is targeted, which provides third party certification that the project is designed to meet industry accepted green building standards. The credits taken to achieve LEED Silver will evolve, but the project team is considering among other measures ample bike parking,
water saving fixtures, green terraces, Energy Star appliances, and healthy building materials.
The exterior design of the 1112 South Flagler building has been developed with energy savings in mind. The deep balconies provide shading that lowers energy use while providing daylight access and preserving the spectacular views. The design also takes a clue from traditional architecture in South Florida with the white color which lowers energy use by reflecting solar energy.
Getting the most economic benefit for our City
S PEAK O UT :
Contact Your Local Officials
Mayor, Jeri Muoio (561) 822 1400 email@example.com
In addition, the condos are Flagler Drive, as well as on the expected to generate $2.7 use of City Services. million in operating ad valorem revenue for The new building “This project is a win/ the Palm Beach creates both shortwin for the City, for First County School term construction Baptist Church & for District. The jobs (over 1,000 Palm Beach Atlantic high taxable valjobs) as well as University.” ue of the condos creates lasting KARL WATSON will likely help to employment for hold the Millage just over 100 peorates lower for ple. other property owners within Palm Beach County. Residents will support the local economy as taxpayers as As a low density project (only well as by shopping at local 96 residences) the building has retailers and dining in local minimal impact on traffic on restaurants. District 1 Commissioner Sylvia Moffett
With the zoning change from Community Service to MultiFamily, the Chapel by the Lake land will become tax
(561) 822 1400 firstname.lastname@example.org
District 2 Commissioner
-producing for the City of West Palm Beach.
Ike Robinson (561) 822 1400 Irobinson@wpb.org
The building, as proposed by GAK LLC will provide on-
District 3 Commissioner
going much-needed tax revenue estimated to be $2.9 million annually to
Kimberly Mitchell (561) 822 1400 email@example.com. Keith A. James (561) 822 1400 Kjames@wpb.org
District 4 Commissioner
pay for City services enjoyed by all residents, including
police and fire protection, utilities, etc.
District 5 Commissioner
Shanon Materio (561) 822 1400 firstname.lastname@example.org
Initial Plans Reduced
Originally proposed as the tallest building in West Palm Beach, developer, GAK LLC has improved upon the initial plans as follows: Reduced the overall height of the building by eliminating 4 floors and reducing the ceiling height in amenity areas in the building. Therefore, the building as re -submitted for approval at 327 feet will now be shorter than the 330 -foot Trump Towers and the approved but not yet built, 343-foot Opera Place project. Contracted to purchase a 100-foot wide stretch of submerged land to the North of the parcel from Palm Beach Atlantic University. The developer has agreed to deed restrict this additional land in order to preserve its water views in perpetuity.