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Article: West Palm Beach, Fla., Developers' Plans Not in Sync with Dallas Rival.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 4, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Palm Beach Post, Fla. Knight Ridder/Tribune Business News
Jun. 4--WEST PALM BEACH, Fla.--CityPlace developers say they're buying prime property on Okeechobee Boulevard to lure a large corporate office user, but that's not entirely true, real estate observers say.
Unlikely to land a company in an office market flooded with vacancies, CityPlace principals Stephen Ross and Ken Himmel are merely tying up the "tent site" property to prevent a Dallas developer from building luxury apartments that would compete with CityPlace's housing, according to several brokers.
"It does seem like they did this to limit the amount of housing that gets built ...