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New Commercial and Residential Projects | Honoring Education Leaders | Latest Relocations and Expansions

Spring 2015

A Quarterly Economic Development Publication

Advancing

Life

Sciences


Advancing the Life Sciences Palm Beach County is an appealing location for life sciences

Adapting to Asian Cultures Understanding and respecting Asian culture is vital to business success

Attracting Financial Services Firms News IEDC Holds Leadership Summit In Palm Beach Gardens SFMA Honors Sancilio and Lockheed Martin USDA Salutes Glades Initiative Take A Student to Work on May 26 Relocations & Expansions

Community Redevelopment Agencies Economic development programs create an environment for growth

National Engineer's Week National Awards Event

New Developments Underway in Boynton Beach Boynton Beach is attracting lots of development interest ON THE COVER

New Projects Planned in Delray Beach

Image by Barry Kinsella

Several major development and redevelopment projects are in the planning stage for Delray Beach.

Recognizing Leaders in Education Presenting the inaugural Palm Beach County Education Leadership Awards

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CONTENTS

Palm Beach County is attracting a steady flow of financial services firms.

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Welcome from the President TO OUR MEMBERS AND PARTNERS: Upon reading this issue of Palm Beach County Business, you’ll discover why Palm Beach County is an appealing location for life sciences and financial services firms. You will learn about new development projects in Boynton Beach and Delray Beach and understand how Community Redevelopment Agencies are transforming our neighborhoods and economies. Additionally, this issue features news regarding relocation and expansion projects and information about recent accomplishments in the county. I hope you enjoy this edition of Palm Beach County Business, which is made possible with the support of the Palm Beach County Board of Commissioners and significant investment from our private partners, notably CareerSource, NextEra Energy, Inc. and Florida Crystals. As we continue to further the diversity of Palm Beach County’s growing economy, please continue to follow us on Facebook and Twitter. Also watch for our e-newsletters to stay well-informed on economic development and business news and events in Palm Beach County. On behalf of our Board of Directors and staff, we thank you for your support.

Kelly Smallridge President and CEO

Business Development Board of Palm Beach County, Inc. 310 Evernia Street | West Palm Beach, FL 33401 561.835.1008 | www.bdb.org Palm Beach County’s Economic Development Resource

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Advancing the

Life Sciences With world-class research institutions, a robust healthcare system, academic medical programs, and a pro-business climate, Palm Beach County is an appealing location for innovative life sciences companies and organizations. “We already have 115 life sciences companies in Palm Beach County, and the pace is picking up,” said Ken Kirby, president and CEO, Transdermal Delivery Solutions, who moderated a panel discussion at the Business Development Board’s “Healthcare and Life Sciences” luncheon on March 26 at the Kravis Center. The BDB is committed to advancing the healthcare and life science sectors, according to Gina Melby, CEO, JFK Medical Center, who cochairs the BDB’s Life Sciences and Healthcare Industry Cluster Task Force with John Couris, president and CEO, Jupiter Medical Center. “Our mission is to grow this cluster by attracting new companies and retaining our current businesses,” Melby said. “We are promoting awareness of the wide range of research and clinical assets in our county, including pharmaceuticals, biotech, medical devices and 14 area hospitals.” In keeping with that mission, the BDB recently launched a new website – LifeHelix.org – showcasing Palm Beach County as a place “where education, research, care and cure interact.” The site is designed to introduce the county to interested researchers, educators, investors, entrepreneurs and executives outside the region and foster collabor-ation within Palm Beach County. The BDB recently hosted a site consultant familiarization tour for the life sciences industry (Life Sciences FAM Tour). The March 25-27 tour included visits to companies in the northern region of the county, presentations from industry leaders and workforce providers, views of available real estate sites through out Palm Beach County, and the luncheon, one of the BDB's Gina Melby quarterly industry focus series. “This is the first time a concentrated effort has been placed on showcasing the life sciences industry to site consultants,” said Kelly Smallridge, BDB president and CEO. “With plenty of available land and a ready workforce, there is tremendous potential in the area to create high-paying jobs and provide a significant economic impact.” At the BDB’s Life Sciences and Healthcare luncheon, Melby outlined how Palm Beach County is increasing the supply of physicians

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Florida is home to world-renowned biomedical research institutes and nearly 1,000 biotech, pharmaceutical and medical device companies. In total, there are more than 44,000 healthcare establishments in Florida, according to Enterprise Florida.

by supporting medical education. She noted that Florida Atlantic University (FAU) and the University of Miami are among the medical schools with programs in Palm Beach County that involve area hospitals. “We are making a coordinated effort to train and retain our physicians here,” she added. Mattias Haury, Ph.D., chief operating officer, Max Planck Florida Institute, outlined a new collaborative initiative with Scripps Florida and FAU to share resources and facilities to develop premier science, technology, engineering and math (STEM) programs. He said FAU graduate and undergraduate students will be able to study alongside some of the world’s leading scientific researchers. Kirby kicked off the panel discussion by noting that Transdermal Delivery Solutions has obtained 18 patents and is weeks away from starting its first clinical trial of its innovative drug delivery system. “We can take active pharmaceutical ingredients and spray them on the skin, where they are absorbed by the body, bypassing the liver and other organs,” he said. Robert Mino, general manager, Global Pharma Analytics, explained how his company operates a 10,000-square-foot contract laboratory facility in Jupiter. “We work with pharmaceutical and medical device companies, and are always looking for experienced analytical chemists,” he said. Fred Sancilio, chairman, president and CEO, Sancilio & Company, Inc., said his company is a wellestablished biopharmaceutical company focused on advanced lipid technology and complementary products. “We are building all the necessary systems, facilities and expertise to allow us to maximize the value of our robust research pipeline,” he said. Claudia Zylberberg, president and CEO, Akron Biotech, which focuses on producing cell cultures and other research materials, stated that her company is moving to a larger, 10,000-square-foot laboratory and manufacturing space. “I believe Palm Beach County will see extensive growth in the life sciences,” Zylberberg said. “We have a bright future here.”


Max Planck Florida Institute Launches New Doctoral Program The Max Planck Florida Institute for Neuroscience (MPFI) in Jupiter is launching a new global brain research doctoral program in collaboration with Florida Atlantic University (FAU), and Germany’s University of Bonn and the Center for Advanced European Studies and Research. The new International Max Planck Research School (IMPRS) for Brain & Behavior, with North American headquarters in South Florida, will offer its students a world-class, competitive doctoral program while giving them a unique opportunity to learn, train and work in other countries. “With this new doctoral program, neuroscience research in South Florida will be elevated to a global platform, one that provides the ideal environment for developing the next generation of scientific leaders,” said David Fitzpatrick, CEO and Scientific Director at MPFI. “Having the opportunity to learn from an international team of investigators at the cutting edge of brain research is a fantastic catalyst for high impact discoveries.” With nearly 1,000 biotech, pharmaceutical and medical device companies and more than 44,000 healthcare establishments already located in Florida, the strategic placement of IMPRS for Brain and Behavior is ideal to promote the continued growth of Florida’s life sciences industry. Over the next few months, the four international partners will collaborate to develop a curriculum centered on understanding the functional organization of neural circuits, and in particular, how the activity of neural circuits mediates behaviors. Using state-of-the-art technologies, many pioneered by Max Planck scientists, doctoral students and researchers will explore multiple aspects of brain function, including the neural basis of sensory processing, motor control, and learning and memory. The program will prepare exceptional students for an exciting career in brain research while at the same time providing the knowledge base that is critical for advances in treating neurological and psychiatric disorders. Florida Atlantic University already has strong ties to MPFI through an existing Integrative Biology and Neuroscience Ph.D. Program. “Our

intention is to turn our Jupiter campus into the science center everyone can be extremely proud of, attracting the very brightest people from around the world so that it becomes a magnet for the best academic talent and students,” said Dr. John W. Kelly, FAU president. The International Max Planck Research School for Brain and Behavior will accept applications for the fall 2016 semester later this year.

Scripps Florida Scientists Receive NIH Grants Scientists from the Florida campus of The Scripps Research Institute (TSRI) have been awarded $3.3 million by the National Institutes of Health (NIH) to identify biomarkers to accelerate drug development for disorders including autism spectrum disorder, epilepsy and some types of intellectual disability. Gavin Rumbaugh, associate professor, is the principal investigator of the new five-year project. “Our long-term goal is to increase the success rate of therapies translated from animal models to patients,” Rumbaugh said. “By validating biomarkers in mice and using this information in combination with pharmacological or genetic treatment strategies, we

hope to create a set of tools and methods that can be used successfully to develop new therapeutics.” Another collaborative team involving Scripps Florida researchers was awarded a $1.5 million NIH grant to develop drug candidates that could treat cancer and neurodegenerative disease. Derek Duckett, associate professor of molecular therapeutics, is the co-principal investigator for the three-year study, along with John Cleveland of the Moffitt Cancer Center in Tampa. Their teams will look for compounds that affect a key enzyme involved in the degradation and ultimate recycling of damaged cellular material.

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Adapting to

Asian Cultures When doing business in China, Singapore, Japan, Korea or other Asian nations, understanding and respecting the national culture is vital to success. In the global economy, being sensitive to these differences can make or break a business deal across the borders, according to John Diep, Asia/Pacific director of international trade development for Enterprise Florida. Diep led a special workshop on “China-Asia Cultural and Business Etiquette” at the Business Development Board’s office on February 17. He emphasized that if one becomes impatient, shows disrespect or ignores social rituals, one will be unable to build the long-term personal relationships that are so essential to doing business in Asia. “Saving face is very important in Oriental cultures,” Diep said. “If you insult someone or diminish their standing in the eyes of other people, that person will never be your friend.” Diep added that the concepts of harmony, balance and honor are fundamental to Asian societies, and can form a strong foundation for a successful business relationship. “Always reciprocate whenever you can,” he said. “Don’t make promises unless you intend to deliver on them. If you run into a problem, apologize and explain the situation so that your customer avoids losing face.”

John Diep, Asia/Pacific director of international trade development for Enterprise Florida

Here are several other suggestions from Diep on adapting to Asian cultures:      

    

Be humble. Don’t boast about the excellence of your company or products. Be formal. Don’t address someone on a first-name basis until after you’ve built a personal relationship. Be prepared to negotiate every point of a deal right up until it’s signed. Be on time. If you make someone late, they lose face. Be aware of titles. If you send a representative overseas, give that person an appropriate title, such as manager or director. Treat business cards with respect. Carry them in a case, not your pocket, and present them with both hands. Never write on the face of card, and ask permission before adding a note to the back of the card. Be prepared for long meetings. Becoming impatient puts you at a serious disadvantage during negotiations. Bring an interpreter or ask the U.S. embassy for assistance Speak slowly and clearly, and avoid using slang and idioms. Use active listening skills to determine the other person’s reaction to your proposals. Remember that “yes” does not always mean, “I agree.” Many

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Asians find it hard to say “no” directly, because they don’t want you to lose face. Don’t try to bulldoze your way through an obstacle. Instead, table the issue temporarily and discuss it again at a later session. Don’t be in a hurry to speak. Many Asian people are comfortable with silence, and use that in their negotiating sessions. Ask open-ended questions so the other party doesn’t have to answer “yes” or “no.” Be prepared to walk away from the deal if necessary. Learn a few words in the regional language, such as “hello,” “please” and “thank you.” Arrive at least one day before the meeting so you can adjust to the time difference.

Summing up his presentation, Diep said, “Sales is still a contact game. If you want to succeed in Asia, you have to go there. Remember that business in Asia and China involves building a long-term relationship, rather than a one-time deal.” Diep's office is located in the BDB's central offices located at 310 Evernia Street. He can be reached at (561)835-1008.


Attracting

Financial Services Firms

From left, Kenneth Polcari, John Castle and Michael Falk

With its high quality of life, excellent schools, talented workforce schools and other service providers for our firm,” said John Castle, and low-tax business climate, Palm Beach County is attracting managing director, Branford Castle, Inc. “I tip my hat to their team.” Michael Falk, chairman, Comvest Partners, launched his firm a steady flow of financial services firms from other parts of here more than a decade ago after spending 20 years in New York. the country. “Palm Beach County has been an excellent location “People in New York are really talking about for us,” he said. “As a private equity firm, we buy and Palm Beach County,” said Kenneth Polcari, CNBC lend money to middle-market businesses. There is a market analyst and contributing editor, who great pool of talent here in finance, administration, moderated the Business Development Board’s compliance and other support staff.” January 29 panel discussion, “Catch the Financial Kirby Rosplock, founder and principal, Wave to the Palm Beaches,” at the Kravis Center. Tamarind Partners, has been in Palm Beach County “Today, you don’t have to be on Wall Street to be for 11 years. She recently launched her consultancy successful in financial services.” practice, focusing on family offices. “They have Kelly Smallridge, BDB president and CEO, said complex strategic issues in terms of investment and Palm Beach County is getting great “buzz” in the Northeast’s financial center. “Our economic Kenneth Polcari with Kelly Smallridge legacy planning.” A former resident of Chicago, Euclid Walker, development has put the county in the national managing partner, Parkway Investment Management LLC. came spotlight.” Polcari, who is also director of the New York Stock Exchange to Palm Beach County almost two years ago. “I wanted a better Equities Division, said the increasing presence of hedge funds, lifestyle from a family standpoint and a better business private equity funds and family offices is creating new business environment for our firm. I travel a lot, and being able to fly from Palm Beach International is a great experience.” opportunities for other types of companies in the region. Castle and the other panelists expect more financial The four panelists at the session talked about their decisions to relocate to Palm Beach County or expand their firms’ operations here. companies to discover the benefits of being based in Palm Beach “I found the BDB to be very helpful in introducing me to County. “Big-time firms have found success here,” he said. “They commercial and residential real estate brokers, headmasters of local can find great talent and a great lifestyle.”

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&

News Events IEDC Holds Leadership Summit In Palm Beach Gardens The International Economic Development Council (IEDC), a non-profit membership organization serving economic developers, held its annual Leadership Summit on January 25-27 at the PGA National Resort & Spa in Palm Beach Gardens. The summit explored the role and responsibility of economic developers and organizations in channeling new ideas, markets, and products into their “gateways” to increase local, regional, national and global economic growth in today’s competitive marketplace. The BDB played a key role as the local conference organizer, providing speakers and organizational support.

SFMA Honors Sancilio and Lockheed Martin

USDA Salutes Glades Initiative On April 9, the U.S. Department of Agriculture (USDA) presented a Community Development Award to municipal, educational and economic development organizations for their collaborative efforts in increase employment and economic development in the Glades communities. The Cities of Belle Glade, Pahokee and South Bay, along with the Business Development Board of Palm Beach County, Lake Okeechobee Regional Economic Alliance, Palm Beach State College, the School District of Palm Beach County, and CareerSource Palm Beach County were selected to receive the honor. This is a national award with one winner for each of the 47 USDA regions. The Glades coalition received the award for the Florida/U.S. Virgin Islands region.

Take A Student to Work on May 26

Lockheed Martin

The South Florida Manufacturers Association recently recognized two Palm Beach County organizations with its “Recognition of Excellence 2015 Awards”. Sancilio & Co. (SCI), based in Riviera Beach, is a biopharmaceutical company focused on advanced lipid technology and complementary products. Lockheed Martin’s Mission Systems and Training business in West Palm Beach and Riviera Beach produces advanced undersea systems.

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The Business Development Board and the School District of Palm Beach County have added a new alternative to the nationwide Take Our Daughters and Sons to Work Day celebrated every year across the country. The new program, called “Take A Student to Work Day” is scheduled for May 26. The Business Development Board’s Branding and Marketing Education Task Force created Take a Student to Work Day so high school students could gain knowledge about top-tier employment opportunities in Palm Beach County. Kelly Smallridge, BDB president and CEO, said, “It’s important that students are able to see first-hand that there are many great career opportunities here. We want our best and brightest students to remain in Palm Beach County.“ Public and private businesses are encouraged to volunteer to host a student for a day of job shadowing. The BDB is particularly looking for businesses in agribusiness, aviation, aerospace, engineering, business and financial services, distribution and logistics, clean technology, healthcare, information technology, biotechnology and manufacturing. For more information, contact Allie Amelio at (561) 835-1008.


Relocations & Expansions

Robert Stevens

USPA Properties, Inc., a wholly owned subsidiary of the United States Polo Association, is relocating its corporate headquarters from Lexington, Kentucky, to West Palm Beach where it expects to have a 30person professional staff. USPA Properties manages the U.S. Polo Association brand, partnering with licensees in over 135 countries worldwide to provide consumers with branded apparel, accessories, luggage, home furnishings and more. The company was drawn to the West Palm Beach region due to its desirability as an international polo destination and its favorable lifestyle and area demographics that will allow the company to attract top talent. “USPA Properties is entering a new era of growth, and we wanted a corporate presence and location commensurate with our international status,” said David Cummings, president and CEO of USPA Properties. “Palm Beach County has a long and rich polo heritage, and we could find no more ideal place to locate.” Cummings noted that the Museum of Polo and Hall of Fame in Lake Worth is located not far from USPA’s new location in Centrepark. In addition, North America’s most prestigious polo event, the U.S. Open Polo Championship — now in its 111th year — has been hosted since 2004 at the International Polo Club Palm Beach in Wellington. Cummings also cited the Palm Beach County and Miami areas as key U.S. markets for USPA Properties, which operates a for-profit business that spans the globe from North America, the Caribbean, Mexico and Central and South America, to Europe, Russia, the Middle East and more. In partnership with Palm Beach County, the Business Development Board of Palm Beach County (BDB) also facilitated these companies’ expansion and relocation plans: Govic Capital and affiliates, a boutique wealth management firm and hedge fund, has leased office space at 125 Worth Avenue in Palm Beach where it has plans to hire up to eight employees. Govic Capital will maintain a small presence in New York and Sarasota but Palm Beach County is now the company’s headquarters location. “We chose Palm Beach County because of the infrastructure and convenient location,” said Mario Govic, founder and president of Govic Capital. Olympus Insurance, a provider of residential insurance products, relocated from Orlando to Palm Beach Gardens, where they will hire 50 employees. “Our company is expanding its footprint and that expansion means not only are we positioned to provide increased

capacity, additional product options, and better services for more Floridians and their families, but also contribute to the Florida economy by providing jobs which help support those same families,” said Jeffrey B Scott, CEO Olympus Insurance. “It’s a win-win.” Medytox Solutions, Inc. will expand its corporate headquarters in West Palm Beach, creating 60 new jobs in addition to retaining 40 jobs. Medytox is a holding company that owns and operates businesses in the medical services sector. The company’s principal line of business is clinical laboratory testing services to physicians, clinics and rehabilitation facilities in the United States. “Medytox’s growth was made possible because of the entrepreneurial spirit of its management team and employees,” said Seamus Lagan, CEO. “Our ability to expand in our current Palm Beach County location is an ideal situation that will support future growth. Florida provides a pro-business climate and the resources we need to continue our success.” In cooperation with Enterprise Florida, Palm Beach County, the City of West Palm Beach and the City of Riviera Beach, the BDB assisted Lockheed Martin in securing $3.2 million in state, county and city incentives to retain 401 high-paying existing jobs in the county. Lockheed Martin received $320,800 from the county, $160,400 each from Riviera Beach and West Palm Beach, and $2.57 million from the state through the state’s Qualified Defense and Space Contractor Tax Refund Program (QDSC). The project is expected to have a fouryear economic impact of $356 million. Lockheed Martin’s Mission Systems and Training business has facilities in West Palm Beach and Riviera Beach where the company produces advanced undersea systems, ranging from manned submersibles to unmanned remotely operated vehicles to autonomous vehicles. “Lockheed Martin is such a major employer in our county that we wanted to go out of our way to support their efforts in hopes they will continue to grow their presence in Palm Beach County,” said Kelly Smallridge, president and CEO of the BDB. “Due to the nature of the defense business and the ups and downs of federal defense contracts, it is very hard to keep those companies competitive and help them bring down their costs while competing for those projects without some sort of local support.” Concurrent Technologies, a leading provider of hosted IT services including web-based solutions for business intelligence, work process management and CRM, is expanding its headquarter operations in Jupiter where it will occupy 4,000 square-feet and will retain 15 employees.

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Community Redevelopment Agencies –

Transforming Neighborhoods, Economies By Sherry Howard, Deputy Director Palm Beach County Department of Economic Sustainability Palm Beach County’s economic development programs work handin-hand with our affordable housing and community redevelopment efforts, all housed under the Department of Economic Sustainability (DES). With much of the funding originating from federal programs, business development, housing, and public facility and utility infrastructure serve as the building blocks for sustainable communities and create an environment suitable for economic growth. A prime example of how those investments generate economic rebirth is within the unincorporated area known as the Westgate Belvedere Homes Community Redevelopment Area (Westgate CRA). The Westgate CRA is situated on the north side of Belvedere Road across from the Palm Beach International Airport and is bordered by Florida Mango Road to the east, Okeechobee Boulevard to the North, and Military Trail to the west. It was created by the Board of County Commissioners in May of 1989 to encourage redevelopment of this central-county community, which had long-suffered from blight and a lack of basic infrastructure and investment. Over the past 25 years, Palm Beach County has financially supported projects to install water and sewer lines, paved roads, curbs, gutters and sidewalks on Westgate Avenue, storm-water drainage, dry retention ponds, canal widening improvements, and neighborhood parks, including more than $9 million in federal funds just in the past five years. In May of last year, the Westgate CRA

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dedicated the Dennis P. Koehler Preserve, a large retention pond with surrounding culverts and inlets to filter the storm-water before it discharges into the C-51 canal, which includes a surrounding bird sanctuary and natural eco-art elements. State disaster recovery funds administered through DES have made it possible to redevelop housing that had suffered damage beyond repair from hurricanes, and additional federal dollars were invested both in rehabilitating vacant and foreclosed residential properties, and in partnership with private industry to develop Westgate Plaza Apartments, a new 80-unit, energy-efficient rental apartment community exclusively for seniors. The Westgate CRA and its agency board have implemented programs to encourage commercial development including reimbursements to businesses for a portion of their site development costs, and other incentives to attract projects that meet the goals of the CRA’s 2005 Amended Redevelopment Plan. Further, the CRA is partnering with private banks to offer grants in combination with low-interest loans to homeowners for improvements projects. These investments are transforming the Westgate CRA’s commercial corridors and neighborhoods, which make the community more desirable for business development and the quality of life better for its residents. For more information about the county’s business assistance programs, contact Sherry at DES, (561) 233-3653.


National Engineer’s Week The Business Development Board hosted the 2015 National Engineer's Week Honors and Awards Banquet on February 2 at the Palm Beach Convention Center. Here are several photos from the event.

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New Developments Underway in

Boynton Beach

One of eastern Boynton Beach‘s many assets is the newly renovated full-service Boynton Harbor Marina, which offers convenient access to offshore diving and fishing. “New residential development along the Intracoastal Waterway is creating a lifestyle that is hard to beat,” said Vivian Brooks, executive director, Boynton Beach Community Redevelopment Agency. “With one of the best beaches in the US within walking distance, east Boynton Beach is attracting lots of development interest.” One example is the recently approved and permitted 500 Ocean project located at Ocean Avenue and Federal Highway in downtown Boynton Beach. This is a mixed-use development that includes 341 residential units, 6,600 square feet of office space and 13,300 square feet of retail space. The 4.8-acre project features a public plaza at Federal and Ocean with a soaring modern public art sculpture. Brooks explained that the Boynton Beach Community Redevelop-

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ment Agency partnered with the developer to provide financial incentives to create the much needed office space and enable the project to “go green” in accordance with the City’s Climate Action Plan. Building the project to the National Green Building Standard will help preserve the city’s water supply and result in energy usage savings of 30 percent. The project is expected to break ground in April. Just to the north of 500 Ocean project in the Heart of Boynton neighborhood, the Boos Development Group has completed the land use, rezoning and permitting for an 8,100-square-foot Family Dollar store on Martin Luther King, Jr. Boulevard. “This is the first new commercial development in this neighborhood in over 40 years,” said Brooks. “ The store will serve the community’s needs for brand name, affordable food and goods.” The Boynton Beach CRA partnered with the developer to help offset the land cost by selling the CRA land at below market value.


New Projects Planned in

Delray Beach Several major development and redevelopment projects are in the planning stage for Delray Beach, according to Elizabeth C. Burrows, economic development manager for the city and the Delray Beach Community Redevelopment Agency.  The Metropolitan is a proposed mixed-use five-story project with 48 condominium units on upper floors, a retail/office/fitness center, and a parking garage on the first and second stories.  Fourth & Fifth Delray is planning to redevelop the former public library and Chamber of Commerce office building to construct a 529-seat iPic movie theater, along with 42,660 square feet of Class A office space, ground-floor retail, and a fivestory 279-space parking garage.  The Fran Building is a redevelopment project on Atlantic Avenue that involves the construction of a one-story 4,332 SF building with two retail bays.  Uptown Atlantic, is a proposed mixed-use redevelopment project including 89 dwelling units, 26,345 square feet of office space, a restaurant and retail space, and other amenities.  Samar Mixed-Use, is a proposed four-story development with a 121-room hotel, 35 condominium units on the upper levels, and ground-floor retail space.

4th & 5th Delray, iPic Entertainment

The Delray Beach Planning & Zoning Department is reviewing these and other projects throughout the city. Robert Stevens

The George Buildings Sold for $19.5 Million Marcus & Millichap, a leading commercial real estate investment services firm, recently announced the $19.5 million sale of The George Buildings, two adjacent corner retail buildings in downtown Delray Beach. Howard Bregman, senior associate in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a South Florida family corporation, and the buyer, a developer from Palm Beach. It is the first time the properties have traded hands in more than 100 years. “Tenant demand and development continue to rise in Delray Beach and the revitalization and redevelopment of the Delray Beach Art District has helped transform the area into a major tourist attraction,” Bregman said. The 19,855-square-foot property is located at 326 East Atlantic Avenue and 400 East Atlantic Avenue and occupies the two mostrecognizable corners of downtown Delray Beach. “The offering attracted a great deal of interest from local, regional, national and international retail property investors,” said Bregman. “The buyer was chosen as the best custodian for the assets and to carry the George family legacy into the future.” The George Buildings

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Recognizing

Leaders in Education

From left, Clarence Anthony, Michele Jacobs, Dari Bowman, Mike Burke, Kendra Palumbo and Thomas Bean

On March 5, the Education Foundation of Palm Beach County and the Business Development Board of Palm Beach County joined forces to present the inaugural Palm Beach County Education Leadership Awards. “A strong educational system is critical to economic development, and this is the latest step in our initiatives to recognize the excellent quality and breadth of education in Palm Beach County,” said Kelly Smallridge, BDB president and CEO. Dwight E. Stephenson, NFL Hall-of-Famer and CEO/President of D. Stephenson Construction, delivered the keynote address. WPBF News 25 anchor Tiffany Kenney acted as host for the awards ceremony at the Kravis Center. “We are extremely excited to partner with the BDB for this important event,” said Max Macon, chairman of the foundation. “It is an opportunity to honor leaders, supporters and distinguished alumni of our Palm Beach County schools.” Distinguished Alumni Awards, honoring Dwight E. Stephenson Palm Beach County graduates for contributions to their communities and professions, were presented to Clarence Anthony, executive director, National League of Cities; Michele Jacobs, corporate director

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of marketing and operations at The Forbes Company; and charitable activist Dari Bowman. “Education is a great equalizer,” said Anthony, a graduate of Glades High School and Palm Beach State College. “I found my calling in government, serving as a voice for people who otherwise would not be heard.” The Volunteer Leadership Award was presented to Eagles Landing Middle School volunteer and PTSA president Kendra Palumbo, while the Partners in Education Excellence Award, went to Florida Power & Light Company and was accepted by Thomas Bean. The Superintendent’s Outstanding Leadership Award, was given to Mike Burke, Palm Beach County School District Chief Operating Officer and Chief Financial Officer. “This award reflects our great team of professionals in our district,” Burke said. The Education Foundation of Palm Beach County is an independent, self-funded organization that fulfills unmet funding gaps of the School District of Palm Beach County through programs and grants that link and engage community leaders in the process of supporting public education.


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Palm Beach County Business Magazine (Spring 2015)  

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