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CRA approves $5.5 million purchase of 914 Fern Street to enable Fern Street extension
Summary
The West Palm Beach Community Redevelopment Agency voted unanimously March 3 to buy 914 Fern Street for $5,500,000 to allow a planned Fern Street extension across railroad tracks, a project officials say will relieve peak-hour traffic and support downtown redevelopment.
The West Palm Beach Community Redevelopment Agency on March 3 approved a $5,500,000 purchase of 914 Fern Street to enable a planned extension of Fern Street across the SFRTA/FDOT railroad tracks.
CRA Executive Director Chris Rook told the board the roughly 12,000-square-foot parcel includes an existing warehouse and parking area and is owned by a family investment company. Rook said the purchase price was negotiated using appraisals and recent transactions in the downtown master-plan area and was set at a level that would incentivize the seller to sell for the road project.
Kevin Walbrecht, the city’s Director of Engineering, said the Fern Street crossing is expected to increase transit capacity and spur redevelopment east and west of the railroad tracks. Walbrecht said prior evaluations estimated the crossing would divert about 11,000 vehicles from Okeechobee Boulevard and Banyan Boulevard during peak hours.
Rook described the parcel’s current tenants and lease terms: Universal Cabling (lease through April 2028, with an amendment allowing the company to terminate with 90 days' notice and a separate amendment allowing the CRA to terminate the lease beginning January 1, 2027) and Drama Works (lease through December 2026). Rook said demolition and road work will require the site to be vacant and appropriate construction permits to be in place.
Rook and Walbrecht laid out an anticipated timeline: staff expects to complete the property closing by June 2025, continue roadway and rail design through late 2025, identify contractors in spring 2026, and—subject to lease vacancies and permitting—target an earliest groundbreaking in fall 2027 with roughly 14 months of construction. The CRA previously applied for two grants (CRISI and ATIP) and was not awarded either; officials said they will continue to pursue federal and state funding and other sources.
The board approved Resolution 25-11 authorizing the purchase. A motion to approve was moved from the dais; the meeting transcript records that the motion passed unanimously but does not record individual vote names. The resolution authorizes staff to deposit an initial earnest amount and to conduct a 60-day inspection period before closing; the transcript specifies an initial deposit of $10,000 and refers to an additional deposit to be applied to the $5.5 million purchase but does not state the exact additional amount.
Why it matters: City staff and engineers said the crossing has been in planning documents since 2017, is included in CRA and city plans, and is intended to relieve downtown congestion while supporting planned and prospective development near the Transit Village, Vanderbilt and Cleveland Clinic project sites.
Next steps: Staff will complete due diligence in the inspection period, return with closing documents, pursue grant and appropriation opportunities, and coordinate neighborhood outreach and construction staging as design work advances.
