Affiliated Development has a property in Lake Worth under contract with plans to build an apartment complex featuring live/work units, and it’s hoping for public incentives to get started.
On Tuesday evening, the city commission will consider a two-pronged incentive package for 1601 Dixie LLC, part of Fort Lauderdale-based Affiliated Development. The developer wants to build 230 apartments, 4,800 square feet of amenity space, and 299 parking spaces at 1601 N. Dixie Highway.
Affiliated has the 5.68-acre site under contract from Danilo Properties, said Jeffrey Burns, CEO of Affiliated Development. With many people being priced out of homes in Delray Beach and West Palm Beach, the time is ripe for development in Lake Worth, he said.
“Lake Worth is cool,” Burns said. “It has its own experience and feel to it.”
Affiliated Development has yet to seek site plan approval. It wants the incentive package in place first so it knows the project is economically feasible, Burns said.
The proposed city incentive plan would consist of $1.04 million for infrastructure improvements and city permitting fees, and $163,148 in credits with the city-owned utility.
That would be on top of $1.4 million property tax incentives that the Lake Worth Community Redevelopment Agency approved for the project in March.
Burns said the project, called MID, would have market-rate apartments. The city didn’t request any rent restrictions or public space improvements, he said.
MID was designed by GliddenSpina. The project would consist of eight apartment buildings, a pool and a clubhouse. The apartments would include 9,440 square feet of retail space in live/work units fronting Dixie Highway. Burns said a door would separate the homes from the workplaces.
“It gives us the ability to get some active use along the street there, which is really important,” Burns said. “We want our tenants to be able to walk to a juice shop.”
Attorney Scott Fuerst in Fort Lauderdale represents the developer in the application.
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