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CRA approves sale of renovated house at 907 7th Street to tenant for $235,000
Summary
The CRA unanimously approved resolution 26‑9 to sell 907 7th Street to tenant Alicia Wynne for $235,000; staff said accrued rent (~$82,000) will be applied toward purchase and closing was described as scheduled for July 22 (year not specified).
The West Palm Beach Community Redevelopment Agency voted unanimously to approve Resolution 26‑9 authorizing the sale and conveyance of real property at 907 7th Street to Alicia Wynne for $235,000.
Kelsey King, CRE project manager, reviewed the property’s history: the CRA purchased the parcel in 2013 for $12,500, completed a major renovation in 2016 for roughly $134,000 and another in 2025 for $64,651, and now lists a post‑improvement appraised value of $235,000. King said the house is a one‑bedroom, one‑bath unit, about 580 square feet on 0.14 acres. The current lease contains an option to purchase and allows 100% of rental payments to apply toward the sale; King said approximately $82,000 in accrued rent may be used toward the buyer's down payment, leaving an expected closing balance near $152,000. In the presentation King said closing was scheduled for July 22; the transcript did not specify the year.
Commissioners asked whether a second appraisal was warranted and King said the appraisal was post‑improvement, used market comparables, and that a second appraisal could be requested though it is not typical. Commissioner Fox moved to approve the resolution; the motion carried unanimously.
The board’s action aims to achieve the CRA’s goal of creating and improving residential opportunities in the historic Northwest target area. Staff will proceed with closing arrangements and required inspections.
