Thursday, February 18, 2016
"BUILD IT AND THEY WILL COME," especially to Paradise!
LAKE WORTH’S HISTORIC GULFSTREAM HOTEL PROJECT APPROVED
Hudson Holdings can now proceed with their $60MM restoration plan.
Built in the 1920’s, the revival is expected to bring more tourism to the area. Located near the west end of the Lake Worth Bridge, with walkable shoppes, art galleries, restaurants and antique shops to browse, it may become a mecca for out of towners. The intracoastal waterway “is right there,” with benches to relax on while watching the boats go by, and the municipal golf course is along the ICW. Plans include an 87-room hotel with a downstairs restaurant, and a 2-story parking garage with at least 145 spaces. Also planned are a champagne room and a rooftop skybar.
The restoration will create 300 jobs and is projected to be finished in 15 months.
Note that in Delray Beach and West Palm Beach investors and developers have plans to update and upgrade those areas with new residential complexes, and new residential buildings have gone up in Boca Raton, and some are in mid-construction. While these plans bring new jobs, they can also bring congestion to these areas, so these objections are being considered too. About 1000 people a day move to Florida, and perhaps in a few years, with the new construction in Palm Beach county, more will come.
This historic property, with its new look, will be a mecca for those looking to buy in the area, a great stopping-off place.