WELLINGTON — Two builders are vying to purchase K-Park and develop the 70-acre village-owned property into a mini-downtown for Palm Beach County's western communities.
The two companies W & W VIII LLC., owned by Wellington resident Jim Ward, and The Related Group, which built The Square in West Palm Beach, envision transforming the village-owned site next to The Mall at Wellington Green into a walkable district that mixes residences, restaurants and shops.
"We feel that Wellington really needs a town center,” Ward told the Wellington Village Council on Tuesday, Dec. 5.
K-Park is Wellington's largest remaining undeveloped property along State Road 7. Over the last decade, the council has heard plans for the site, including a Palm Beach State College campus, a horse park and multifamily housing, but thus far has chosen to leave it undeveloped.
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Ward sent an offer to the council in April to purchase K-Park for $54 million and build a mixed-use project.Kenneth Himmel, the CEO for Related Urban, sent a letter to the village on Dec. 4, stating the development group was interested in building a residential and commercial community on half of the property's 70 acres.
The North London Collegiate School, a group of European top-ranking K-12 educational institutions, also filed plans with the village this year to build a private campus over half of K-Park, leasing the property from the village.
Wellington acquired K-Park in 2003 for $8.5 million from the family of former Palm Beach County Engineer Herb Kahler, giving it its name. The village has leased the property to Aldemar Farms since 2010 for $55,000 a year.
Mayor Anne Gerwig said if the village were to consider selling K-Park, council members needed to create a master plan for the land with elements that would benefit Wellington.
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"It's our property,” Gerwig said. “We need to know what we want on it before we close on anything.”
Council member John McGovern said the present council had to make a decision before the terms of Gerwig and council members Michael Drahos and Michael Napoleone end after the March 19 election.
“It would be irresponsible of this five to hand a decision of this magnitude to the next five and think that they can get up to speed with the impact of it,” McGovern said.
What does Ward family envision for K-Park?
Ward's company first submitted plans to develop K-Park in 2015. He told the council in December his company aims to build Wellington a town center that is open and walkable, compared to the outdated model of The Mall at Wellington Green.
The development would be centered around a green lawn with interactive fountains flanked by a “commercial corridor” that would feature boutique stores, restaurants with outdoor seating and apartments towering above.
W & W VIII LLC's offer to purchase the land for $54 million is more than its assessed value, which is estimated between $39 million and $46 million. Besides the commercial corridor, W & W VIII's proposal includes:
- Additional dining and retail buildings.
- Six apartment buildings.
- A townhome community.
- Medical and office spaces.
- A grocery store.
- A hotel.
- A lake with fountains.
- And 15 acres of open space including trials, greenways and public amenities.
Ward said the project would feature "modern Mizner" architecture and listed examples of other mixed-use projects such as Forth Worth's Stockyards, Houston’s Market Street-The Woodlands, Savannah’s Eastern Wharf and Charlotte’s Park Road as inspirations for what K-Park can become.
The Wellington-based developer built the village's Trader Joe's, Cleveland Clinic and Winding Trails plazas.
“Every project we've presented to you, we’ve followed through,” Ward said. “We are local."
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What does Related want to build on K-Park?
Himmel's letter said Related was interested in developing half of the property into a mixed-use community.
Himmel said the project would be organized around a “main street” with a central roundabout featuring shops, restaurants and apartments. The other half of the property would be occupied by a K-12 school that would be a separate deal, Himmel said. The letter did not specify who would build or operate the school.
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Related has built mixed-use projects around the country including The Square in downtown West Palm Beach, Hudson Yards in New York City, and The Grand in Los Angeles. Besides the main street and the private school campus, Related's proposal includes:
- Seven residential-only buildings.
- Two commercial-only buildings.
- And areas for resident and community amenities, including a lake, walking trails and tennis courts.
In the letter, Himmel wrote the developer would still need to evaluate the financial viability of the project, and conduct market evaluations and land appraisals. He added that Related was interested in establishing a development plan for the area with the village before making a purchasing offer.
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Gerwig said the offer by the Ward family was generous but that Wellington needed to create a development plan for the property and define the elements that would benefit the village.
“Don't ask a developer what they want,” Gerwig said. “If you own it, you get to decide what you want, and I don't think we've gotten to that point.”
Gerwig said any decision to sell the property would need to have buy-in from Wellington residents.
"What do we want?” Gerwig asked. "We have to have that conversation with the community.”
Councilman Michael Napoleone said that back in 2015, village residents had voiced interest for turning the area into an entertainment and commercial district. He said a similar multifamily project, Wellington Garden, had garnered resident support because it featured an 18-acre botanical garden.
Drahos said interest from Related was a "game changer” and the council needed hold off the sale until it can evaluate all of its options.
"I'm curious with what Related may be able to offer Wellington,” said Drahos, who has talked about bringing retailers such as Tory Burch to the site. “We are in a fortunate position right now. That just means we need to do a little more work.”
McGovern said it was a “big deal” for the council to even consider any plans for the site but added selling the property would bring millions into Wellington’s coffers.
The council agreed to review the final proposals for K-Park on Tuesday, Jan. 16, and then proceed to a vote on the sale of the property.
"It is a game-changing sum,” McGovern. “It is a massive undertaking, but it can change the history of this village both because of the importance of land and the money being discussed.”
Valentina Palm covers Royal Palm Beach, Wellington, Loxahatchee and other western communities in Palm Beach County for The Palm Beach Post. Email her atvpalm@pbpost.comand follow her on Twitter at@ValenPalmB. Support local journalism:Subscribe today.
As a seasoned expert in urban development and real estate, it's evident from the detailed information provided in the article that the Wellington community is at a critical juncture regarding the future development of K-Park, a significant 70-acre property. The two main contenders, W & W VIII LLC and The Related Group, both propose transformative visions for this space, aiming to create a mini-downtown for Palm Beach County's western communities.
Here's a breakdown of the key concepts and players in this development scenario:
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K-Park Background:
- K-Park is Wellington's largest remaining undeveloped property along State Road 7.
- Acquired by Wellington in 2003 for $8.5 million from the family of former Palm Beach County Engineer Herb Kahler.
- The village has leased the property to Aldemar Farms since 2010 for $55,000 a year.
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Contending Builders:
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W & W VIII LLC:
- Owned by Wellington resident Jim Ward.
- Offered $54 million to purchase K-Park.
- Envisions a walkable district with residences, restaurants, shops, a commercial corridor, and various amenities.
- Previous projects include Trader Joe's, Cleveland Clinic, and Winding Trails plazas.
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The Related Group:
- Led by CEO Kenneth Himmel.
- Built The Square in West Palm Beach, among other projects.
- Expresses interest in developing half of K-Park into a mixed-use community with a "main street," shops, restaurants, and apartments.
- Proposes a separate deal for a K-12 school on the other half of the property.
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Additional Proposal by North London Collegiate School:
- A group of European top-ranking K-12 educational institutions filed plans to build a private campus over half of K-Park, leasing the property from the village.
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Wellington's Decision-Making Process:
- Mayor Anne Gerwig emphasizes the need for a master plan for the land that aligns with the village's interests before selling K-Park.
- Council members John McGovern, Michael Drahos, and Michael Napoleone highlight the responsibility of the present council to make a decision, considering the impact of the development on the community.
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Proposed Features by Builders:
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W & W VIII LLC's Proposal:
- Modern Mizner architecture.
- Commercial corridor, boutique stores, restaurants, apartments.
- Additional dining and retail buildings, apartment buildings, townhome community, medical and office spaces, grocery store, hotel, lake with fountains, open space.
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The Related Group's Proposal:
- Main street with a central roundabout, shops, restaurants, and apartments.
- Seven residential-only buildings, two commercial-only buildings.
- Areas for resident and community amenities, including a lake, walking trails, and tennis courts.
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Council's Perspective:
- The council acknowledges the significance of the decision and plans to review final proposals on Tuesday, Jan. 16, followed by a vote on the sale of the property.
- There is a consensus on the need for a thorough evaluation of all options before making a decision.
In conclusion, the future development of K-Park holds substantial implications for Wellington, and the decision-making process involves weighing various proposals, considering community interests, and planning for the long-term benefit of the village.
