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LEGAL APPROVAL 011188-8 0151D ORDINANCE NO 88- 0 ORDINANCE OF THE CITY OF BOYNTON BEACH, FLORIDA, PROVIDING FOR A DETERMINATION THAT CHANGES TO THE COMPREHENSIVE DEVELOPMENT OF REGIONAL IMPACT APPROVED IN ORDINANCE NO 84-51, AND AMENDED IN ORDINANCE NO 86-11, AND FURTHER AMENDED IN ORDINANCE NO 86-37, DO NOT CONSTITUTE A SUBSTANTIAL DEVIATION UNDER CHAPTER 380, FLORIDA STATUTES, 1986, DETERMINING THAT NO FURTHER DEVELOPMENT OF REGIONAL IMPACT REVIEW IS NECESSARY REGARDING SUCH CHANGES, APPROVING SUCH CHANGES, AMENDING THE DEVELOPMENT ORDER (ORDINANCE NOS 84-51, 86-11, and 86-37) FOR PURPOSES OF INCORPORATING THE APPROVED CHANGES, AND PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES WHEREAS, Riteco Development Corporation, a Florida corporation ("Riteco") filed with the City of Boynton Beach (the "City") an Application for Development Approval of Comprehensive Development of Regional Impact (the "ADA") on May 21, 1984, regarding that certain property (the "Property") described in Exhibit "A," attached hereto and made a part hereof; and WHEREAS, the ADA was approved and the Development Order for the Property was granted December 18, 1984 pursuant to Ordinance No 84-51 (the "Development Order"); and WHEREAS, Riteco subsequently conveyed its right, title and interest in and to the Property to Boynton Park of Commerce, Inc , a Florida corporation ("Boynton Park"), and, Boynton Park, in turn, subsequently conveyed its right, title, and interest in and to the Property to Quantum Associates, partnership (the "Developer"), and WHEREAS, Developer filed with the City respective applications a Florida general to amend the Development Order, which applications were approved by the City in Ordinance No 86-11, and in Ordinance No 86-37; and WHEREAS, the term "Development Order" includes all amendments thereto; and WHEREAS, Developer has filed with the City another application to amend the Development Order; and WHEREAS, the City Commission of Boynton Beach, as the governing body having jurisdiction, is authorized and empowered to consider applications for amendments to development orders approving developments of regional impact pursuant to Chapter 380, Florida Statutes (1986), and WHEREAS, upon publication and furnishing of due notice, a public hearing on these proceedings was held January 5, 1988 before the City Commission of Boynton Beach; and WHEREAS, the said Ci ty Commission has considered the testimony, reports and other documentary evidence submitted at said public hearing by Developer, the Boynton Beach staff, and the public, and the Boynton Beach Planning and Zoning Board's recommendations of December 8, 1987; and WHEREAS, said City Commission has considered all of the foregoing NOW, THEREFORE, BE IT ORDAINED by the City Commission of Boynton Beach, that said City Commission makes the following findings of fact Section 1 A notice of public hearing in the proceedings was duly published on December 21, 1987, in The Post, a newspaper of general circulation in Boynton Beach, Florida, pursuant to Chapter 380, Florida Statutes, and proof of said pUblication has been duly filed in these proceedings Section 2. Developer has requested that the Development Order be amended as follows A That the Amended Master Si te Development Plan ("Amended Master Site Development Plan"), attached hereto as Exhibit "B" and made a part hereof, submitted by Applicant in its application for Amendment to the Development Order replace and supercede the Master Site Development Plan currently approved in the Development Order B That Section 4(1) be amended by adding the following subparagraph (e) (e) Quantum Park At Boynton Beach Amended Master Site Development submitted November 12, 1987 ADA Plan 0151D -2- C That references throughout the Development Order be revised to conform to the Amended Master Site Development Plan Section 3 Upon consideration of all matters described in Section 380, Florida Statutes (1986), it is hereby determined that A The amendments proposed by Developer do not unreasonably interfere with the achievement of the objectives of an adopted state land development plan applicable to the area B The amendments proposed by Developer are consistent wi th the local comprehensive plan and local land development regulations C The amendments proposed by Developer are consistent with the recommendations of the Treasure Coast Regional Planning Council on file in these proceedings D The amendments proposed by Developer do not constitute a substantial deviation under Chapter 380, Florida Statutes (1986) E The amendments proposed by Developer do not require further development of regional impact review Section 4 The City Commission has concluded as a matter of law that these proceedings have been duly conducted pursuant to the provisions of Chapter 380, Florida Statutes (1986), that Developer is entitled to the relief prayed and applied for, and the Development Order is hereby amended incorporating the amendments proposed by Developer as set forth in Section 2 above, and incorporating that certain Memorandum from Kevin Hallahan to Carmen Annunziato under date of December 2, 1987 (attached hereto as Exhibit "C" and made a part hereof) Section 5 Except as otherwise amended herein, the Development Order shall remain in full force and effect Section 6 A copy of this Ordinance shall be transmitted by first class U S. Mail, certified return receipt requested, to the Bureau of Land and Water Management, the Department of Communi ty Affairs, Quantum Associates (the owner/developer), and the Treasure Coast Regional Planning Council 0151D -3- Section 7 This Ordinance shall become effective immediately upon passage FIRST READING this -I!J!!-day of d(JJYlu-~. 1988 SECOND READING and FINAL PASSAGE this~ day of liiJ VfA. a rt1 , / 1988 CITY OF BOYNTON BEACH, FLORIDA '(2 ~c g '> ' _'1C2c<'~~ MA OR ~ VICE- ATTEST ~ ~~ -~. CITY ER ~-J~~ COMMISSION MEMBER duo ~~7 ZZ,a c COMMISSION ~BER ~~~~ EXHIBITS "A" - Legal Description "B" - Amended Master Site Development Plan "C" - Memorandum from Kevin Hallahan 01510 -4- C<HliHT ".;" OVERALL BOUNDARY LEGAL DESCRIPTION A Tract of land lying partially in Sections 16, 17, 20 ~nd 21, Township 45 South, Range 43 East, Palm Beach County, florida, said Tract being more particularly described as follows Commencing at the Southwest corner of said Section 17; thence North 1-,4'39" East, along the West line of Section 17, a distance of 1318.10 feet to a point in the intersection with the centerline of N.W. 22nd Avenue, as recorded in O.R. Book 1738, Page 1686, of the Public Records of palm Beach County, Florida; thence with a bearing of North 89-04'32" East, along the centerline of N.W. 22nd Avenue, a distance of 778.37 feet to the Point of Beginning; thence North 1-44'39" East, a distance of 1247 06 feet to the South right of way line of L.W.D.D. Lateral 21; thence North 89-08'49" East, along the South right of way line of L.W.D D. Lateral 21, as recorded in O.R. Book 1732, Page 612, of the Public Records of palm Beach County, Florida, a distance of 635.93 feet tO,the centerline of the L.W.D.D. Equalizing Canal E-4 Canal, as recorded 1n O.R. Book 1732, Page 612 of Public Records of palm Beach County, Florida; thence along the centerline of the above described E-4 Canal with a curve to the right having a chord bearing of North 10-32'52" East, a radius of 750.00 feet, a central angle of 4-04'17", and an arc length of 53.29 feet; thence continue along the centerline of the E-4 Canal, with a bearing of North 12-35'00" East, a distance of 320.69 feet to a point of curve; thence with a curve, to the left having a radius of 6500.00, a central angle of 3-28'30", and an arc length of 394.23 feet: thence North 9-06'30" East, a distance of 1979.16 feet to a point on the North Line of Section 17; thence with a bearing of North 89-'6'39" East, along the North line of Section 17, a distance of 1964.50 feet; thence South 0-02'11" East, a distance of 2625.18 feet; thence North 89-08'49" East, a distance of 368.96 feet to a point on the North right of way line of-c.t.W. 22nd-A'venue$as recorded in O.R. Book 1738, Page 1686 of the Public Records of Palm Beach County, Florida; thence South 19-27'31" East, a distance of 50.00 feet to the centerline of N.W. 22nd Avenue; ~hence with a curve to the right having a chord bearing of North 75-29'49" East, a radius of 1637.02 feet, a central angle of 9-53'58", and an arc length of 282.85 feet to a point; thence No~th 12-02'41" East, a distance of 915.72 feet; thence North 0-31'11" East, a distance of 399.70 feet; thence North 89-12'37" East, a distance of 413.21 feet~ thence South 88-22'56" East, a distance of 1349.70 feet to a point on the West right of way line of the Seaboard Coastline Railroad; thence South 0-28'21" East, along the West right of way line of the R3ilroad, a distance of 1309.09 feet to a point on the centerline of ~.W. 22nd ~venue; thence North 88-27'31" West, along the centerline of N.W. 22nd Avenue a distance of 672.97 feet; thence South 0-33'53" East, a distance of 1306.69 feet~ thence South 88-45'31" East, a distance of 333 51 feet to a point on the West right of way of the Seaboard Coastline Railroad~ thence .....ith a bearing of South 14-06'23" West, along the West right of Hay of the railroad, a distance of 1312.49 feet; thence South 0-33'53" East, a distance of 26.69 feet; thence South 13-,5'22" West, a distance of 920.57 feet; thence North 88-50'04" West, a distance of 187.60 feet~ thence with a bearing of North 0-49'21" West, a distance of 200.00 feet: thence North 68-50'04" West, a distance of 218.00 feet; thence South 0-49'21" East, a distance of 200 00 feet; thence North 88-50'04" West, a distance of 40.00 feet; thence South 0-49'21" East, a distance of 556 84 feet; thence North 88-50'04" West, a distance of 3617.26 feet to a point on the centerline of the above described centerline of the E-4 C~nal' thence with a bearing of North 5-,8'14" West, a distance of 153.13 f~et, thence with a curve to the right having a radius of 450 00 feet, a central angle of 15-36'44", and an arc length of 122 62 Eeet~ thence '?I:'th 10.'3'30" East, a distance of 988 60 feet to a point of curve~ :1ence ....ith a curle to the left having a radius of 450 00 feet, a <:ent~al angle of 18.20'00", and an arc length of 143.99 feet~ thence ....it."! .) bearing of North 8-01'30" \-Jest, a distance of 1255 14 feet to a 90i~t on t~e centerline of N.W. 22nd ~venue; thence with a bearing of Sou:h 89.04' 32" ~.zest,along the centerline of N.H. 22nd Avenue a distance of j17 85 feet more or less to the point of neqinning C~ntalning 591 55 acres mora or less and subject to easements and rights C):: ....a! 0: :-ecord ECORD VERifiED ': 0 R NTY FLA- . \::: ~ ~ .....i.. i -~M.M B€ACH COU LE - oJ' :',ji:("'::' JOHN 8 DUNK ~ ;. _ T ,:::... 1i ("LERK-CIRCUIT COIIR. n.J -l lJ1 o C- O fT ::> Ln CO EXHIBIT "c" M E M 0 RAN DUM TO Carmen Annunziato Planning Director FROM Kevin Hallahan Forester/Horticulturist DATE December 2, 1987 SUBJECT: Master Site Development Plan Amendment #3 Quantum Corporate Park (FKA Boynton Beach Park of Commerce) This memorandum is in reference to the above document submitted to the City of Boynton Beach Planning Department on November l2, 1987. The new location of the Sand Pine Preserve (14.3 acres) will comply with the requirements of the Development of Regional Impact (DRI). This parcel should also be researched and included in the requirements of the original 40 acre Sand Pine Scrub Preserve Management Plan, Ecological Report. The same management practices should be followed on the new site to assure successful preservation of the land parcel. // Kevin J i ~ !, Hallahan .' CC File DOC QUACORPK KJH:ad NOTICE OF PUBLIC HE~RING NOTICE IS HEREBY GIVEN that the city ~ouncil of the city of. Boynton Beach will hold a Special Meet1ng and conduct ~ Pub11c Hearing at 7:30 P. M. on Thursday, September 4, 1986, 1n the Council Chambers City Hall, 120 East Boynton Beach Boulevard, Boynton Beach, Fiorida. The purpose of this public hearing is for consideration of a proposed change to the Boynton Beach par~ of. Co~~erce Development order (ordinance No. 84-51) and determ1nat~on as to whether or not the proposed change cqnstitutes a substant1al devi~tion to the approved development ~rd~r with respect to.t~e following described property located w1th1n the c~rpo:at~ 11m1ts of said city, pursuant to the request of.tdhe part1es 1n 1nterest and in compliance with ~hapter 380, Flor1 a Statutes. REQUEST: Boynton Beach Park of Commerce~ Comprehensive Development of Regional Impact LEGAL DESCRIPTION: A Tract of land lying partially in Sections IE, 17, 20 and 21, Township 45 South, ~ange 43 East, Palm Beach County, Florida, said Tract being more particularly described as follows: Commencing at the Southwest corner of said Section 17; thence North 1044'39" East, along the West line of Section 17, a distance of 1318.10 feet to a point in the intersection with the centerline of N.W. 22nd Avenue, as recorded in O.R. Book 1738, Paae 1686, of the Public Records of Palm Beach County, Florida; thehce with a bearing of North 89004'32" East, along the centerline of N.W. 22nd Avenue, a distance of 778.37 feet to the Point of Beainnincr,. thence ~ '" North 1044' 39-" Eas.t, a distance of 1247.06 feet to the South right- of-way line 9f L.W.D.D. Lateral 21; thence North 89008'49" East along the South right-of-way line L.W.D.D. L~teral 21, as recorded in O.R. Book 1732, Page 612, of the PubliG~necor~s of Palm Beach County, Florida, a distance of 635.93 feet, to ~he centerline of the L.W.D.D. Equalizing Canal E-4, as recb~ded in O.R. Book ~7~2, Page 612, of the Public Records of Palm Beach County, Florida; thence along the centerline of the above described E-4 Canal with a curve to the right having a -chord bearing of North 100.32'52" East, a radius of 750.00 feet, a central angle of 4004'17", and an arc length of 53.29 feet; thence continue along the centerline of the E-4 Canal, with a bearing of North 12035'00" East, a distance of 320.69 feet to a point of curve; thence with a curve to the left having a radius of 6500.001 a central angle of 3028'30", and an arc length of 394.23 feet; thence North 9006'30" East, a distance of 1979.16 feet to a point on the North Line of Section 17; thence with a bea=ing o-f North 89016'39" East, along the North line of Section 17, a distance of 1964.50 feet; thence South 0002'11" East, a distance of 2625.18 feet; thence North 89008'49" East, a distance or 368.96 feet to a point on the North right of way line of N.W. 22nd Avenue as recorded in O.R. Book 1738, Page 1686 of the Public Records of Palm Beach County, Florida; thence South 19027'31~ East, a distance of 50.00 feet to the centerline of N.W. 22~~ Avenue; thence with a curve to the right having a chord bearing of North 75029'49" East, a radius of 1637.02 feet, a central angle of 9053'58", and an arc length of 282.85 feet to a point; thence ~orth 12002141" East, a distance of 915.72 feet; thence North D03l}11" East, a distance of 399.70 feet; thence North 890 12137" East, a distance of 413.21 feet; thence South 88022'56" East, a dlstance of 1349.70 feet to a point on the West right- of-\vay line of the Seaboard Coastline Railroad; thence South 0028'21" East along the vlest right-of-way line of the Railroad, a distance of 1309.09 feet to a point on the centerline of N.W. 22nd Avenue; thence North 88027'31,,-'Nest, a10nq the centerline of N.tV'. 22nd Avenue a dlstance of 672.97 feet; thence South 0033'53" East, a dlstance of 1306.69 feet; thence South 88045'31" East, a distance of 333 51 feet to a ooint on the West right-of-way of the Seaboard Coastline Railroad; thence \'lith a bearing of South 14008'23" t'lest, along the ~est right-of-way of the railroad, a dlstance of 1312.49 feet; thence South 0033'53" East, a distance of 26.69 feet; thence South 13015'22" West, a d1stance of 920 57 feet, thence North 880 50'04" West, a distarce of 187 60 feet, thence with a bearing of North 0049121' W, a distance of 200 00 feet, thence North 88050'04" \ \'iest, a distance of 218.00 feet; thence South 0049' 21" East, a distance of 200.00 feet; thence North 88050'04" 'vest, a distance of 40.00 feet; thence South 0049'21" East, a distance of 556.84 feet; thence North 88050'04" Hest, a distance of 3,617.26 feet to a point on the centerline of the above described centerline of the E-4 Canal; thence with a bearing of North 5018'14" West, a distance of 153.13 feet, thence wlth a curve to the right having a radius of 450.00 feet, a central ang~e of 15036'44", ano an arc lenqth of 122.62 feet. thence North 10018'30" East, a distance of 988.60 feet to a point of curve; thence with a curve to the left having a radius of 450.00 feet, a centraL angle of 18020'00", and an arc length of 143.99 feet; thence \oJ'ith a bearing of North 8001'30" "lest, a distance of 1,255.14 feet to a point o~ the centerline of N.W. 22nd Avenue; thence with a bearing of South 89004'32" West, along t~e centerline of N.W. 22nd Avenue a distance of el7.85 feet more or less to the Point of Beginning. Containing 591.55 acres more or less and subject to easements and rights-of-way of record. CONTAINING: 591.55 AC 51.70 AC 539.85 AC GROSS LAND AREA LESS ROADWAY & CANAL RIGHTS-OF-WAY OF RECORD l~ET LAND AREA i~ LOCATION: South of ~llner Road right-of-way extended, North of Canal C-16, between Congress Avenue and I-95, Boynton Beach, Florida PROPOSED USES: Planned industrial develop~ent to include light manufacturing and research~facilities, offices and ancillary commercial uses. ~ --+_.- - APPLICANT: Deutsch/Ireland properties All interested parties are encouraged to appear in person, to be repre- sented by an attorney or comment in writing. The application and all related documents will be available for review during normal working hours in the office of the Planning Director, Carmen Annunziato, 200 North Seacrest Bou+~vard, Boynton Beach. Any person who decides to appeal any decisioK of the city Council with respect to the matter considered at this meeting will need a record of the proceedings and, for such pur~ose may need to ensure that a verbatim record of the pro- ceedings is ~ade, which includes the testimony and evidence upon which the appeal is based. BETTY S. BORONI, CITY CLERK CITY OF BOYNTON BEACH, FLORIDA aa PUBLISH: THE POST AUGUST 20, 1986 ( ( l\ -,... EXHIBIT "B" AMENDED MASTER SITE DEVELOPMENT PLAN BOYNTON BEACH PARK OF COMMERCE JANUARY 21, 1986 /. \. Prepared by DEUTSCH/IRELAND PROPERTIES In Consultation with RICHARD L BOWEN & ASSOCIATES, Planners and Engineers THE ROY BARDEN PLANNING GROUP, Landscape Architect ROSSI & MALAVASI ENGINEERS, INC , Civil Group KIMLEY-HORN AND ASSOCIATES, INC , Traffic Engineers GOODKIN RESEARCH CORPORATION, Economic & Marketing Analysis COGNETICS. INC , Marketing ~..i~'<;i~;i;".l .' ---",.. .... . . .-. ,j"f :",.~.._- - ~.,~ DEUTSCH mELAND PROPERTIES .c..... Y TO P'OIItT LAUDl:IllOAL& OI'I'ICII I I \ I I .. January 21, 1986 Mr. Carmen Annunzi~to, City Planner City of Boynton Beach 120 N.E. Second Avenue P.O. Box 310 Boynton Beach, Florida 33435 RE: Amended Master Site Development Plan Submission Boynton Beach Park of Commerce Dear Carmen: In accordance with our meeting last week, I am transmitting to you herewith, thirty copies of our Amended Master Site Development Plan. Each of the copies is a package containing the report document, six large drawings as listed in the report document, and a letter indicating the required revision we are requesting to the Development Order. We are also submitting, before the end of the week, eighteen additional copies to the Treasure Coast Regional Planning Council and six additional copies to Luann Rains at the State Depart- ment of Community Affairs. It is our understanding that this submission fully meets the requirements identified under the State Legislation and City Code. If you have any question or there are further submittals required, please let us know as soon as possible. / Thank you. & GZ:ak Enclosures 1 SUITE 1106-INTERNATlONAL BUILDING-2455 E. SUNRISE BOULEVARD-FORT LAUDERDALE, FLORIDA 33304. (305) 564-5114 THE BUILDING. 1125 NORTHEAST 125 STREET NORTH MIAMI, FLORIDA 33161 . (305) 891-6806 AFFILIATES: BROLEN REALTY & MANAGEMENT CORP MITA CONSTRUCTION CORP I ~ ~ AN AMENDMENT TO THE MASTER SITE DEVELOPMENT PLAN FOR BOYNTON BEACH PARK OF COMMERCE Deutsch/Ireland Properties is pleased to submit herewith, this amendment to the Master Site Development Plan for the Boynton Beach Park of Commerce. The amendment documents include this booklet of material which provides an explanation of the refinements made to the Master Site Development Plan, as well as backup analysis providing the justification for such refinements and six drawings as follow: site plan, grading plan, drainage plan, mitigation plan, wat~r plan and sewer plan, and the attached request for a proposed revision to the Development Order. This request is being made in order to formalize a final Master Site Development Plan to be used as the basis for subdivision and public improvements engineering. We see the development of this Master Plan as a refinement, rather than a change, to what has been previously submitted to the State Department of Community Affairs, the Treasure Coast Regional Planning Council and the City of Boynton Beach. This plan reflects a reduction in net development acreage from 411.2 acres to 361.1 acres, over what was approved in the ADA/DRI. Our primary effort in arriving at this amendment was to finalize a plan that was illustrative of the original concept and which met the following goals: 1. To refine the master plan; to incorporate requirements of the Development Order, specifically the set-aside of a 40- acre sand pine preserve and the incorporation of the City Park through a land exchange. 2. To refine the master plan; to incorporate the requirements of a single phased construction plan consistent with our marketing plan. / 3. To refine the master plan; to reflect the outcome of our marketing research which has affected parcel sizes and orientations. ~ 4. To refine the master plan; to reflect changes in traffic due to a loss of 50.1 acres of developed land. 5. To refine the master plan; to incorporate drainage changes consistent with the new South Florida Water Management District's regulations now in effect, plus the reduction of developed acreage and the increase of open space. 6. To refine the master plan; to eliminate the rail-loading area and incorporate the potential for individual rail spurs at development sites. ) THE MASTER SITE DEVELOPMENT PLAN The colored plan on the following page illustrates the Master Site Development Plan in its amended form. Following it is a copy of map H-l illustrating the Boynton Beach Park of Commerce as originally submitted in the DRI document. In reviewing the documents for consistency, there are four areas of refine- ment that are discussed hereafter in detail ~ 1. Land uses - Land uses have been adjusted to incorporate both the sand pine preserve and the City Park in a manner consistent with the requirements of the Development Order. 2. Road alignments - The road alignments have been refined to serve the reduced developed acreage, as well as the revised parcel sizes. 3. Phasing - The revision of project phasing to accommodate a single, public-improve~ent construction phase, as well as single marketing phase. 4. Parcel sizes - A refinement of parcel sizes and orientation to conform with the marketing research and proposed sales plan. AMENDED LAND USE The Amended Master Site Development Plan is essentially unchanged from the ADA/DRI plan. It is still proposed to be developed as a nearly self-contained, planned comprehensive industrial/office park. The mix of uses in the amended plan still contains those types of light industrial, office, hotel, retail and commercial trade activities as permitted by Section 7, Planned Industrial Development (PID), District of the Boynton Beach Zoning Code, as adopted June 3, 1975 A comparison of land use in the approved ADA/DRI and Amended Master Site Development Plan is shown in Table l. The Amended Plan contains 30.4 acres of commercial use, of which 3.4 acres are recreational; l33.l acres of office use; 197.6 acres of light industrial use, of which 53.3 acres are to be used for ~ research and development industrial activity; l44.9 acres of open space, of which 50.3 acres are lakes, 6 acres are wetland preserve, 40 acres are sand pine preserve (in one parcel as agreed to by staff of the City of Boynton Beach and Treasure Coast Regional Planning Council in 1985); and 33.9 acres of additional internal arterial roadways. Arrangement of these proposed land uses within the Amended Master Development Plan are primarily the same as proposed in the approved ADA/DRI Plan. Office uses are proposed along NW 22nd Avenue, around the proposed interchange at Interstate 95, and across from Motorola near Congress Avenue. 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II( U m D Z II( .. II Z D ~ ) It W II OJ !1 w II ~ jlfl 2 ~s11 ~ . ~ . ~.... ..... .~7J .. -' . "... ... ...... .... . . . . - . . u PARK OF BEACH a: CDMME.RCE.E II( Rit:eca Development: Carp. ~ MAP H-1 .. z w :E rH E-~-- . .. w > w D L.ra_ND c~ 8.. ..c... -.0.,1. a... ...... ...u....... BDVNTON By dP 00 r-t Lll o Lll N 00 . . o CO 1.0 o 00 0 . . o o r-t Or-- r-t N o r-- en 1.0 r-t ~ z tC( H Po. I I I I I I I I I C ~O r-t MM r-t MOOI.O en en r:LI . . . . . . . . C Mr-- M M~ r-t o 1.0 0 CO M en Z N M Lll~ 1.0 Lll oqo oqo M M r:LI r-t r-t M Lll ~ Z r:LItC( tl)H Op.. CH Zll:: r-t en N N N 1.0 0 tC(C dP 0 ....... Lll M r-- 1.0 Lll CO r-t r-tHtC( C N ~ r-- r-t r:LIti..tC( HO....... I ~ZZ &Il esO~ , tl)p.. Z H ~ ll::C tC(r:LI p.. p..C H ~Z Or:LI t:t: 01.0 en or-- N ~COOO Lll en U~ C ....... r-- CO oqo r-t 1.0 Lll 1.0 en < N N Lll r-t r-- ~ M C r-t N ~ Lll < /- r:LI (!) Q) tC( 0 Q) ',- ~ ItS 0 0. ItS +J..-t U (I) 0. s::1tS tC( (I) Q)-r-! s:: Q) S 1-1 C Q) :> 1-1 0.+J r:LI 0. 1-1 Q) ..-t o (I) p.. 0 Q)..c: 1tS..-t ..-t::3 0 ....... (I)+J s:: (lj Q)'t:l H (I) Q)O O-r-! ..-t:>S:: P::I 't:l 1-1 or-! 0 ItS Q)-r-! :> s:: o..~ +JI-I -r-! '0 r:LI ItS ItS Q) 1-1 +J C ..-t lll~ ~ ~ +J~.c: +J (I) s:: 1-1 (I) tJ"I ti.. Q) '0 - r-! ItS ..-tOO ::3 .c: -r-! 0 ~ s::o.~ ItSQ)CJ 'OO..-t (I) ItS r:LI or-! 1-1 S::I-I H ....... Q) r-I 'tj :>. tI) 0-1-1 HItSI-I tC( (I)~+JS::+J 0 I-I.QQ) Q) Q)Q) E-l Q) ItS Q) 1tS-r-! tI) Q)::3.c: 0 +J(I).c: 0 ~HS:tI)U (I) H C ~..-t+J -r-! .c:Q)+J E-l ItS 't:l es ~ 00 44 tJ"Il-IO ~ H ItS 0 44 or-! 0 0 0 H U 0 H tI) ll:: E-f The location of commercial parcels along NW 22nd Avenue is a minor departure from the internal "Lakeside Center" complex originally 'contemplated that indicated only 800 feet of com- mercial frontage on NW 2.2nd Avenue. The current plan, exclud- ing the Club, now provides for 2,800 feet of commercial frontage. Based upon marketing requirements and the need to establish strong restaurant and service retail locations within the Park, the land-use has been specified accordjngly From a traffic viewpoint, it is justified by the reduction in trip generation for the Park overall, as noted later in this report Hotel uses have been noted as alternate uses for office use par- cels located on both the eastern and western terminus of NW 22nd Avenue. Three such parcels have been noted accordingly. This concept is consistent with the approved ADA/DRI plan. Light industrial uses, including research and development activi- ties, are to be located south of NW 22nd Avenue, along the Boynton Beach Canal (C-l6) and along High Ridge Road. Light industrial uses are also proposed to be located south of the Boynton Distri- bution Center on High Ridge Road and south of the 40-acre sand pine preserve area. Open space has increased substantially over the approved ADA/DRI Plan from-S2.2 acres to l44.9 acres. Lakes are proposed to be located in the low area of the Park. Unlike the ADA/DRI approved plan, however, these lakes will be arranged as linear open space/ wetland/lake areas. The result is to provide greater visual ex- posure to a far larger number of park sites. The reduced acres of lakes (from 76.4 acres to 50.3 acres) is based upon new rules by the South Florida Water Management District adopted in June 1984, and the fact that the plan contemplated 50.1 fewer acres of developed land. These new rules require less large size retention lakes in each project. On-site ponding will be part of these rules. Wetland preservation remains the same as approved in the ADA/DRI Plan, except for a slight increase in wetland acreage (from 5.8 acres to 6.0 acres). The mitigation plan, submitted herewith, identifies the locations of the lake-e~ge plantings as consistent with the approved ADA/DRI. In addition, the-preservations of upland habitat and native vege- tation is consistent with the approved ADA/DRI \ One large 40-acre parcel of sand pine scrub and existing proposed animal habitat area is proposed in the far northwest portion of the Amended Plan This location and parcel configuration was decided upon from several alternatives and following numerous meetings be- tween Riteco, environmental planning consultants, and City/Treasure Coast Regional Planning Council staff, during 1985. Preserved in- tact, the 40-acre site complies with requirements of the TCRPC Board and staff, the City staff, and the adopted Development Order. Ample habitat land area exists to allow orderly and safe relocation of existing Gopher Tortoise and Florida Mice. Existing Burrowing Owl sites all fall in northern portions of the preserve. Fully consis- tent with the Development Order, this proposed "Sand pine Preserve" will be regenerated in accordance with the Sand Pine Preserve, Management Plan -6- A proposed City Park will be located adjacent to the 40-acre preserve This Park will provide a community level facility and serve the growing residential neighborhoods to the north and west. Access for the Park and preserve area will be pro- vided by a new loop arterial which connects Congress Avenue (north of NW 22nd Avenue) with NW 22nd~Avenue in the center of the Park. Future construction of Miner Road will provide additional access. ROADWAY ALIGNMENT AND TRIP GENERATION A network of major internal arterials (similar to the ADA/DRI Approved Plan) is proposed to serve the Amended Plan land uses, and avoid negative impact on the public transportation system outside of the Park. Internal vehicular movement will be ac- commodated by arterials, each with divided four-lane landscaped boulevard roadways. Northwest 22nd Avenue and High Ridge Road are similar in construction with a lOO foot right-of-way. Miner Road has a right-of-way of lOa feet; and will be constructed by others, as adjacent sections of roadway and the canal crossing become available. An internal system of pedestrian walkways and bikeways will be provided throughout the linear open space system, connected by grade-separated crossings as shown, at the arterial roadways. PROJECT TRAFFIC PROJECTIONS In general, vehicle trip generation for the Amended Master Development Plan is similar to the ADA/DRI Approved Master Development Plan. A comparison of the two is shown in Table Two The slight 5% reduction in total trip generation (from 44,321 in the ADA/DRI Plan to 42,957 in the Amended Plan) is the re- sult of an increase in the open space categories of land use and reduction,~f net developable land from 411 2 acres in the ADA/DRI to 361 1 acres in the Amended Plan. ~ INTERNAL/EXTERNAL SPLITS There are also reductions in external trips A comparison of internal/external trip generations is shown in Table Three The 10% reduction in external trip generation is a result of reductions in net developable land acreages Traffic assignments of external trips to the impact area road- way network remain unchanged from the ADA/DRI Plan. External peak-hour trips generated by the Park and their directional split are also unchanged from the ADA/DRI Plan -7- 1-3 ~ 0 ::r:: ("') ~ 0 ...... H\ 0 0 > 1-3 ~ H\ ~ 3 Z > ...... CD 3 0 ~ ~ 0 I-' CD U) H CD (J) Ii c: ::1 0 U) 0.. ...... t1:j C -- I>> (J) ~ I'V I-' 11 0 ...... 0 I>> I-' ::0 3 (J) 00 W I-' > '"0> 0 0" '-" I'V ("') ::ro ::0 03> t1:j (J) ......... U) CDO ::0 I-' H '"'d I-' I-'~ 0" ~ VI I'V l.U 1-3 0> ::0 Z >'"0 0 I-' "-oJ I-' \.0 H '< 0::0 \., I-' \.0 0" 0 0" '"'d CD :>0 I'V I'V 0 0 0 lD .........L, t1:j 11 0t1:j Z ./ (J) ::0("') 0 HI-3 -- U) t1:j ~ '"'d '"'dO 0 ::r ~ 1-3 0 I>> :>1-3> {J) Z::Oo:1 I'V I-' ::0 CD .........H~ VI I'V 3 >'"'dt1:j ~ 00 (J) I'V 3: I-' > t1:jG)1-3 "-oJ \.0 '-" 00 ("') Zt1:j~ ::0 0:1 OZO , t1:j C t1:jt1:j 00. U) ...... 0::0 , I-' > 0.. '"'d1-3 0 ~H C :>0 ~ I-' I'V ~ ZZ ~ l.U 0 ~ VI 1-31-3 ::00 I-' l.U 0'\ I'V \.0 HI-3 ~ ~ I'V 0 "-oJ '"'d> l.U 0" ~ 0 l.U ~ t1:j Z 0 -- U) ~ 0 0 W .... .... ::0 0" \.0 W 3 w > 0> .... "-oJ W {J) 0 ("') ::13: ::0 CDt%j .... 0'\ .... -- ~ t1:j Z U) '"'dO ::rt1:j 1>>0 (J) CD'"'d ~ .... I'V ~ N 0 .... ~ 0'\ 1-3 > .. ::0 Z N l.U I'V I'V W H N VI \.0 0 "-oJ '"'d 0'\ ~ 0" 0 0" t1:j Z 0 U) .< ,...1 <( z ~ V'l 0 ...-l ...;t 0 ~ (Y") \D ...-l C'\ 0 E-i N ,..... \D V'l N :>( ~ N N \D 00 0 ...-l (Y") ,...1 <( Z ~ ...-l 0 V'l 0 \D ~ ...;t ...;t 00 \D N E-i ...-l ...;t \D ,..... 0 Z H ...;t ...-l ...;t ...-l N Z ...-l <( ,...1 p.. 0) 00 CI) 0 0(\:1 z ~..c ~ Op.. ,...1 \D 0 \D ...;t \D Z <(p.. ,..... 0 C'\ V'l N ~O) E-iH (Y") N N (Y") N ~I: O~ .. .. .. <(0 E-iE-i \D ...;t ...-l 0 N N ...-l ...;t Z 00<( E-i,...1 Hp.. ,...1 p..O ~CI)W ,...1 , ~ 0 <( 0\ ~,...1Z Z l :I::<(~ ~ E-iZ~ ~ V'l 0 (Y") V'l (Y") ~<( E-i (Y") \D ,..... (Y") 0 ~~, :>( V'l ,..... 0 0 ...;t ,...1E-iZ ~ .. a:!:>(<( ...-l N \D ...-l ...-l <(~,...1 ...-l ...-l (Y") E-i.........p.. '0 ,...1 0) <(H I: ,...1 ZP:: ..... <( ~O .!:J Z ~......... e ~ 00 0 ...-l ...-l 0 E-i< 0 ~ (Y") ...;t V'l ...-l ...;t ZO u / E-i ...;t ...;t V'l (Y") ,..... H< Z .. H ...;t ...-l ...;t N N ...-l , aCl 00 0 H...-l Z ~ ~ 00) ,..;! (Y") 0 ...;t \D (Y") .........CI) <(p.. ,..... 0 N ...;t ...;t <((\:I E-iH C'\ N \D (Y") ...-l O..c O~ <(p.. E-iE-i V'l ...;t 0 (Y") ...;t N ...-l ...;t ...-l (\:I ..... l-l ...-l oI-l (\:I CI) ~ ..... ::J "0 00 0 I: ::;) l-l 0) H 00 0) ...-l 0 ,...1 0 e 0) .... oI-l <( Z e oI-l ~ ~ E-i <( 0 0 ~ ..... 0 ,...1 U :I:: 0 ,...1 E-i .~ .ROADWAY IMPROVEMENTS Construction of the Amended Master Development Plan will result in a 5% reduction in total trip generation, a 10% reduction of ) external trip generation, and a reduction of the level of impact on intersections and roadways within the project impact area. However, agreements reached between Riteco Incorporated, the City, the County and TCRPC, as stated ~n the approved ADA/DRI Development Order, will be honored by Deutsch/Ireland Properties without change. Therefore, no change in the Development Order is requested. In support of the data presented herein concerning trip generation and splits, there i~ attached hereto a letter from Jim Zook at Kimley-Horn with his computation of the revised traffic numbers based upon this refined plan. His letter supports the fact that there is no increase in traffic, despite the refinement of land uses illustrated in the Amended Master Site Development Plan. PHASING The approved ADA/DRI speaks to an extended development period of up to thirty years. Development was proposed in two phases. Our proposed plan is to proceed with development of the entire project in a single phase. Immediately following below are excerpts from a marketing study prepared by Goodkin Research concerning the absorption rate for this project and other major projects in the area. Based upon their conclusions and the marketing intents of Deutsch/Ireland Properties, it is believed that this entire develop- ment can be accomplished in an eight to twelve year time frame. On this basis, Deutsch/Ireland Properties has made the financial commitment to move ahead immediately with all roadway and public improvements construction. Platting and subdivision will be sought immediately upon approval of this Amended Master Site Development Plan. ABSORPTIO.'RATB Based on the development's planned amenity mix and predicated on tha h}-pothesis that our marketing recommendations outlined above will be basically adhered to, the average annual absorption rate is expected to vary from e.pproximat.aly 4S to '1S acres per year (see Table 2). Given about 3'19 net acres o! land, the cxpected absorption period ranges trom 5.1 to 8.4 years, with a tl.3 yellr probable time spar.. These absorption rates are measured in terms ot land sales to both users &ad other developers/builders, and also include acreage occupied by buildings ~onstructed by the client/developer Coodkin~[J(S(}u -10- \ J ~ ABSORPTION BATES Absorption ot Industrial land can best be messW'cd by the rate at whIch land Is taken off the market through land sales. This rate, however, docs not necessarny renect therllte of buDding improvements as economic conditions and purchaser goals have significant eUccts_ The annual absorption rate of the surveyed parks, as measured by available land, ranges from less than 1 Rcre to 55 acres. The most common average annual absorption rate varies from about 2 to 5 acres In the parks alU'veycd. The larger ~d better planned and located parks tend to renect the raster absorption rate while smaller parks arc usually at the lower end of the range. Two other factors greatly affecting the absorption rate are both the price and the Immediate availabnity of fully improved sites. MeBSW"ed In terms of the amount ot land put to Industrial use (whiCh Includes existing buildings and facilities under construction), Arvida's Park of Commerce has generated the most Impressive absorption rate ot approximately 38 acres per year. Cioodkin~@J~Du -11- Kim/ey.Horn and Associafes, Inc. 5800 Corporate WaY. West Palm Beach. Fla. 33407 · (305)683-5500 Raleigh, West Palm Beach, Tampa, Orlando, Nashville, Dallas December 9, 1985 447906(07)/T06-22 Mr George Zimmerman Deutsch-Ireland Properties Suite 1106, International Building 2455 East Sunrise Boulevard Fort Lauderdale, Florida 33304 RE: Boynton Beach Park of Commerce Proposed Plan Revision Traffic Impact Dear George: As requested, by you, we have completed a comparison of your proposed revised plan for the Boynton Beach Park of Commerce (second revision) As indicated on the attached summary, the traffic impact of this plan is virtually the same as for the approved DRI plan. Differences due to road alignment changes are noted on the summary Also enclosed is our bllling through October, 1985 Bllling includes Task I of our proposal and for a portion of work accomplished on Task II. The work on Task II was initiated to meet your initial "fast track" schedule. Work was halted since we did not receive a signed proposal. Billing for the enclosed summary wlll be under our current agreement (447906) as requested. We have enjoyed working with you on this task. Please let us know if you have any questions regarding the enclosed summary or the bilUng Very truly yours, JRZ/nan Attachments K~MLEY-HORN AND ASS!ATES, INC cc Mimi Howard -12- BOYNTON BBACn PARK OP COMMBRCB UPDATE Preliminary Traffic Impact Assessment And Site Plan Review Summary ~ TRAFFIC IMPACT ASSBSSMBNT Proposed Plan A pproved Plan Total Trips External Trips 42.226 30.200 (72%) 044.143 31.403 (71%) '- Total External Peak Hour 5.130 5.331 DIFFERENCES Total Trips Proposed 42.226 = 096 = Approved 44.143 External Trips = Proposed 30,200 = 096 Approved 31.403 External Peak Hour Proposed 5,130 = 096 = Approved 5.331 NOTE If 400 Room Hotel substltued for ll-acre Office External Peak Hour = 5,190 Proposed 5,190 = 0 97 Approved 5.331 ,/ Generally projected 24-hour and peak hour assigned trafflc volumes are the same. Traffic volumes increase on Congress Avenue between Miner Road and NW 22nd Avenue due to no connection to Miner Road within the western half of the project There Is also some Increase In directional splits due to the higher percentage of office trips 12/10/85 447906(07)/T06-22 -13- PARCEL SIZES AND ORIENTATION The Amended Site Development Plan is based upon a green space network containing pedestrian ways and lakes. This concept is a slight refinement from the ADA/DRI approved plan in that the lakes and green space have become the focus for each of the development parcels, rather than using the lakes and green space as buffers between the roadways and development parcels. In rearranging the plan in this fashion, we have been able to provide this pedestrian amenity to the vast majority of parcels within the development. In the process of reorienting the specific parcels, we have moved much further ahead towards the final definition of parcel size. The following paragraph excerpted from the original ADA/DRI documents indicates an intention of developing parcels from a minimum size of one and three quarter acres to a maximum size of nine acres. The Amended Master Site Development Plan is fully consistent with that intent. A collector street, with a right-ot-way ot 60 teet, may be con- - structed between the Lakeside Center and adjoining oftice/Industrial uses, It the market need tor small sites dic- tates Its requirement. As shown on Map H, a typical industrial lot may be 600 teet x 660 teet. These 0 ac~e sites may be typically subdivided into 1.75. 2.25 or 4.5 acre tracts to meet the need for smaller ottice or light industrial sites near the Lakeside Center. / PAGE 12-7 \ Immediately following are excerpts from reports prepared by our marketing and sales consultants, Goodkin Research Corporation and Cognetics, Inc. The excerpts ~dentify o~r pot7nt~al market and the sizes of facilities most l1kely requ1red w1th1n our Park. Although this is not the exclusive rationale we have used,in determining our final subdivision plan, the results of th1s research provide the backbone for it. -14- 1-15 INDUSTRIAL PARK DBVELOPMENT - CONCLUSIONS AND RECOMMEN DA TIQNS Our analysis of the supply and demand determinants for warehouse a:1d industrial space indicates that these uses constitute attractive real estate investment opportunities for the developer. The demand for warehouse space is strong, and although several new industrial parks are competing in the marketplace, the subject property offers a close-in and highly visible location. Specific recommendatiqJlS for this portion of the development follow: High Tech R ck D Pacilities In present day dollars, rental rates for high tech buildings should vary from about $1.00 to $1.50 per square foot, absolute net. Typically, these buildings will contain the following improvements: 18-24 foot clear ceiling heights 100 percent air-conditoned and fully sprinklered for fire protection 22,400 ampere, three-phase electrical service drive-up loading docks and drive-in doors 35,000 to 80,000 square foot buildings 2,500 to 5,000 square foot bays, or multiples thereof parking ratio of one space per 275 to 325 square feet Market segments typical of this fast-growing group include micro electronic / telecommunications equipment; medical electronics (e.g., electronic health monitoring systems)j process control technologyj electronic surveillance systems and other electronic components; computer systems; engineering, research and design; pharmaceutical/medical products and other related high tech groups. These users require well landscaped sites and attractively designed buildings. -15_ ..,..w'. d~ T': 0''''' ~~, ,. ,.w ,. UFo,? V"'~,\ ~ '.1 [[@3~@J[Jcs[b 1-18 I OFFICE DEVELOPMENT - RECOMMENDA nONS Based on the above statistics, it is clear that the supply of office space in Palm Beach County exceeds the demand. In the face of this glut, in order to be successful, developers will be compelled to be more cautious, sophisticated and innovative in their .. planning, design, marketing and timing of new projects. While there is an imbalance in supply and demand, the Boynton Beach Park of Commerce subject property is nevertheless strategically positioned to enable it to compete in various segments of the office market. -However, in order to generate acceptable absorption rates, it is recommended that a differentiated marketing strategy be adopted by offering three basic product lines: o Pure office...space o Office/Service o Office/High tech buildings Pure Office Space We feel that the subject property is suitably positioned to enable it to successfully capture a portion of the demand for luxury-type office space originating from such tenants as financial institutions, insurance companies, computer companies, regional headquarters, operations centers, and professionals seeking prestigious locations (e.g., major law firms and accounting firms) In Broward County, the , , Corporate Park at Cypress Creek has been very successful in attracting these relatively large companies. These firms are already well entrenched in the Boca Raton market. I ( -16- ~ {j ~.. V M. ~ "'. r f1~ I (111[]@~@0J{]\SLfJ i 1-19 Our analysis 'of the criteria affecting the location decisions of corporate. and regional/divisional headquarters shows that the availability of highway and air transportation are ranked as the two outstanding features, closely followed by the availability of professional/executive labor. In this respect, the site ranks highly. Pertaining to the luxury office market component of the development, the following recommendations are made: Rental Rates - In present-day dollars, the recommended base rent is $14 to $16 per square foot, absolute net. Size of Buildings - In order to be able to capture some of these larger tenants, buildings should be fairly large, varying in size from ap~roximately 65,000 to 110,000 square feet. Building Height - Building heights can vary from about one to six stories, with two to five floors probably being most common. Office/Service Space and Moderately Priced Office Space It is recommended that the developer adopt a penetration pricing strategy by also offering office/service space and moderately priced pure office space at highly competitive prices to the market segments indicated below. These target groups are searching for excellept "value" at locations which offer good visibility, a convenient road transportation network, and a nearby labor pool and local market. Our overall " experience with office/service p['ojects in South Florida clearly demonstrates the popularity of this concept when pdces are very competitive. Those projects with relatively high rental rates have experienced difficulties leasing space even when site exposure is excellent. The subject property clearly offers an environment that is conducive to our recommended strategy, especially in light of current market conditions. -17- ..r" ;'i"'i'~ ~ ~ ~;:<t:; . - ].-;;"f~ ][1. UOOilJHa{ifl~?)\'~(~U ~ LJ 1-23 COMMERCIAL DEVELOPMENT Interviews with representatives and employees of major organizations and various office and industrial parks in Florida, show strong preferences to work in self- . contained developments that offer the necessary supporting commercial/retail and other personal services, including such uscs as: Restaurants Personal services (e.g. dry cleaner, hairdresser, beauty shop) Stationery/book store Gift! cigar shop Convenience store Pharmacy Full service print shop Travel agent Messenger/courier service Car rental agency Camera shop/developing Although these uses would cater chiefly to employees of the park and other surrounding commercial developments, some demand would also emanate from surrounding residential communities. It is important that the restaurants and other ... retail facilities be positioned in the subject park in a manner that maximizes exposure to passing traffic. HOTEL DEVELOPMENT At present, there is only onc hotel chain fronting {-95 in Boynton Beach - an unattractive Holiday Inn at the intersection of {-95 and Boynton Beach Road. Given -18- Gf0~:')'" "1 .:)~. ". K..' .. 'i~: ~_ , .1 f,l, llii., fl- ". O'OI(Ii1~~@)[f(SLrl J 1-24 I the impressive growth of industrial, cornmerdal, retail and residential developments in the surrounding area (especially as exemplified by Motorola and the Boynton Beach Mall), we feel that the property offers a good location for one or two quality hotel franchises that can be phased to support up to 500 rooms. A hotel would clearly complement the overall amenity mix of the development and derive most of its revenue from such patronage sources as business guests, meetings and small seminars, potential residents in the area, and, to a lesser degree, social/tourists requiring a short stop-over in a quality, easily accessible and highly visible location. The strategy of adding hotel establishments during the later phases of major office/business park developments is fairly common, as exemplified by such successful South Florida projects as Arvida Park of Commerce, Corporate Park at Cypress Creek and Hillsboro Executive Center. / \ -19- ,1r...... .,,~,f;i'..."r' J;~tl f ~~itf~~~c~(~>lr,l( (J[Sl:--J "~...j;;jVv.j)G:..~m~Ll& ~U ~CJ0(-.9JU ''=I l 1-25 l.OT .SIZES AND LAND PRICES According to the preliminary Master Plan of the Boynton Beach Park ot Commerce, the park is divided into large lO!:, acre lots. Our competitive survey shows that with the exception of Arvida Park of Co~merce's 5,:!: acre tracts, most competitors offer one to two acre tracts, reflecting strong demand by relatively small users. While we teel there is a need for large tracts (and our projected absorption rates assume that the developer will be able to attract several large occupants), it is important that the developer is also able to satisfy the demand by potential occupants requiring minimum lot sizes of roughly 1.25 acres. In order to achieve the marketing flexibility required in a project of this size, it is strongly recommended that the land plan be amended to meet the needs of these market segments. It is advisable to plat relatively small and combine lots, as opposed to platting mainly large tracts as this could present more of a problem when trying to split. In this respect, it is also important to realize that, in general, smaller parcels tend to generate higher prices per square foot than larger ones. Depending upon such factors as size of parcel, location within the park, financing, type of buyer/user, the recommended land price in present-d&y dollars varies tram approximately $6.50 to $12.00 per square foot with an average of $8.25 per square foot. Th~ prices are somewhat lower than those currently being quoted at Arvida Park of Commerce, and roughly in line with Hillsboro Executive Center and Corporate Park at Cypress Creek. Given the outstanding amenity mix planned for the " development (e.g., golf course, day cal'e center, meeting/conference facilities, health club, restaurants/retail services), we feel that these prices are realistic and offer potential occupants excellent "value,,1 1 If an interchange is built at 1-95 and N W. 22nd Avenue, land prices at some ot the parcels could increase by as much as 10 to 20 percent. ( . j -20- ~,,~:.., "''''" :. ~ :;. '-it:. :""..':':"~ ~!j~ ,~' :r~if;:'l: ~(? ~[f@J"] "', ,.."..;~ . 0 l I' .~g.. ['-1 PROPfRTIES Palm 8each Co_ ~ SU~MARY OF GROWTH TKE~DS The Palm Heach Co. economy performed better than the U.S. economy during the lQ70's and earty 19~0's. ~nite the US grew by 28 percent during the lQ72-82 perio~ as a whole, Palm Beach Co. grew 91 percent. Palm Beach Co. tended to reflect the general pattern of cycl ical change experienced nationwide: Campoun d Annual Growth Rate Period U.S. Pain: Beach Co. Difference 1912-76 ~-.8 5_6 3.8 1976-80 4.5 9_1 5.2 1980-82 -.4 5.4 5.8 19~2-B5 2.5 8.1 5.6 Palm Beach Co. did better than the U.S. as a .whole during the major growth period In 1916-80, and again during the 19BO-82 recession. The biggest contributors to the Palm 8each Co. Job base during the 1972-82 period were: .s"!~t / Eating ( Orl~king Places Health Services Special Trade Contractors Business Services Real Estate Transportation Eqpt_ General Contractors Electric E Electronic Eqpt. Food Stores Misc. Retail Trade ~~1_~~~_J~~~_tt~a!~~ 11765 6993 6650 5987 40424 4250 3722 3582 3442 3331 \ -21- Economic Change The least effective contrib~tors have been: ~~~1'.t ~~l_~~~_J~~~_~L~~lAa -553 -150 -43 -34 -34 -25 o o o o ~ Heavy Construction Te~tl Ie Manufacturing Ston~,Clay,Glass Products Co~bin~d Investments OJI E Coal Products htfg. Forestry Tobacco Products Mfg. Pipelines ~allroads Coal t Lignite ~'n'ng S~yt'A~_~l_~~1_1~~_~t~~1~ It is Important to know which kinds of companies, on balance, are creatlnq net new Jobs. By "on balance" we mean the net of new startups and expansions and relocations Into Palm beach Co. over the losses due to closings. layoffs, and out-moves. We determine the net change by examining the behavior of each Individual tuslness In the area, netting the gains against the losses as we go. Bi:_~!~~ In Palm Beach Co., small companies were the greatest net Job creators during the period for which the most recent micro detail Is available (1980-84): Percent Net fmlU~~!!1:!l1_.s1z1 ~~!_~~~~_t~jll~ .J~b__'.bjLl.9l 0-19 /- 19408 69.8 7- 20-99 6990 23.7 '\. 100-499 3280 15.9 500+ 9084 24.l Unknown 1541 120.5 ---------------- ------------ T OT A L S 40304 34.5 -22- Economi c Ct;ange a~_I~~t_~!_Q~Dft~nl~ Palm Beach Co. rei ies most heavily upon local Independents for Its growth: " Percent Net a~!!f!.1!l1~ tl~1_J~~1_tt~al:d J~tl__ttlA!l9~ Independent 22970 36.1t ~ C;ubsldlary 131 2.0 Local Headquarters 10313 66.2 Bra nc h (Local HO) -2891 -37.0 Branch (Non-local HO) 9790 1t0.9 ----~---------~ ------------ TOTALS 1t0313 31t.5 jl~_As: Among establishments with an Identifiable age, young companies Indicated the fastest rate of jOb gain: Percent Net As: ~:1-J~~1_'t:al~~ J Sl~ __ tll AD g~ 0-4 39630 172.9 r. 5-8 -32bO -17.9 9-11 -151t2 -16.6 12+ / -lltllt -It.l Unk n own b899 21.7 '\ ---------------- ------------ TOTALS 40313 34.5 -23- Economic Change a~_t~t~~ta1~-A~11xl1~-~aY11u9-~na09~ The largest source of jOb creation (from an activity standpoint) was startups ("births"). On the negative side, closures ("deaths") playe~ the most significant economic role. Looking at the net, we find the greatest level of Imbalance between .startups and closures, ana therefore the Mlghest rate of employment gain: Percent Net ~!la!lg~_ft~~~1~ ~~1_J~t1_tt~alt~ .J2~~_tL~alt~ Startup - Closure 1 qt; 2 e 48.7 % Expand Contract 15570 38.& 1 r""ove - Outmove 5115 12.7 ~-~----~-----~~- ------------ TOT ALS 40313 100.0 ~~1yt~_~1_Ra~1~lX_~L~lQS_t~~2a~1:1 Net jOb creation figures tel I us a great deal about where the economy Is healthy, but they du not tell us which Individual companies are growing. It could be that there are many healthy firms In an Industry that Is declining. It thus pays to look at the nature of growing companies ~~t ~~. What do we mean by "growing?" Is It absolute or Is It percent growth? Absolute growth favors larger companies; percent growth favors ( smaller ones. We have avoided these biases by choosing a hybrlo mixturp of the two: absolute employment growth multiplied by the percentage growth it represents (expressed In decimal terms). Thus a company that grew tram 500 to 550 employees would have an absolute growth of ~O, a ~ercent growth of 50/500 a.l, and an index of 50 X .1 · 5. We have chosen to examine the characteristics of all very rapidly growing establishments i.e., all of those with a growth Index of o v e r 20 - k e e pin 9 t r a c k 0 f the ire h a r act e r i s tic s , i n ttl e mea n t i me. -24- fconomic Change Slz~ The greatest number at rapidly growing establishments are smal I: No. Rapidly Percent of Ell"ployment Crowing Rapidly Crowing S1z~_____ fl!a~111bm~!l!1 fl!a~111b!!l~!l11 0-19 202 61.8 % 20-99 63 19.3 100-499 21 8.3 500+ 30 9.2 Unknown 5 1.5 ---------.....--- ------------- TOTALS 327 100.0 CktIHlt111J.Q In terms of ownerShip status, local Independents represent the largest number of high-growers: f\lo. Rapidly Percent of Growing Rapidly Growing !hi D..!: !.1h 12 EI1a~111bmJln!.1 E11a~1J.1nlI!~n!1 Independent Firm 222 b1.9 X Subsidiary 8 2.4 Headquarters of Firm bO 18.3 /- 8ranch of Loca r Firm 9 2.8 "- Branch of Non-local Firm 28 8.b --..---------- ---...---------- TOT ALS 327 100.0 -25-