Stet News
🏘️ GL Homes is developing about 100 single-family homes on Huizenga Holdings’ property in the 10 blocks bordered by 40th Street, 45th Street, Broadway and North Flagler Drive in West Palm Beach. Separately, Huizenga is moving forward with four condo towers next to the two-tower Icon Marina Village at 44th Street. (The Palm Beach Post $$$)
⚡️ Florida Power & Light is seeking a nearly $9 billion hike to customers’ base rates over four years, a sum that affordability advocates said represents the largest rate hike request in U.S. history. Under the proposal, typical residential customers would pay roughly $12 more monthly next year for their base rates. The rates would then increase each year for four years. (Tampa Bay Times $$$ via Sun Sentinel $$$)
📈 More than 12,000 condominium buildings in Florida are subject to new regulations put in place after the Surfside collapse to be inspected by the end of last year for structural problems. Fewer than 40% have disclosed the results of their inspections. (WLRN)
💰 The state subsidy to run Tri-Rail is running out. South Florida counties are being asked to pony up $10 million this year to cover an existing deficit. But the three counties, including Palm Beach, would need to cover an annual $90 million deficit as federal stimulus money dries up and state financing ends. (Sun Sentinel $$$)
🛤️ Meanwhile, Brightline expects to close by summer a licensing deal to let commuter trains run on its easternmost tracks in Miami-Dade and Broward counties. Palm Beach County is not in negotiations because it doesn’t have the money. Miami-Dade officials plan to commit $337.8 million from transportation sales tax to establish the commuter rail. (South Florida Business Journal $$$)
🏥 Cleveland Clinic announced a $500 million campaign to build a downtown West Palm Beach hospital on Australian Avenue. It would replace Reflections towers at 400 and 450 S. Australian. Downtown developer Stephen Ross made a $50 million pledge toward the hospital and is in a partnership that paid $35 million for the Reflections complex in 2022. (The Palm Beach Post $$$)
📺 With one week left in the regular season of TGL golf, an assessment of what is working and what is not for the league that plays at Palm Beach State University in Palm Beach Gardens. (The Athletic $$$)
