Residents of a condominium complex are moving out after being offered substantial buyouts from developers, as they try to reshape the landscape across from Mar-a-Lago.

The buyouts are only a part of the payments developers are proposing if West Palm Beach city commissioners approve zoning changes and waivers on rules, which would allow the Kolter Group and Perko Development to build an 18-story residential tower at 3705 South Flagler Drive. Ethan Sabol, who was moving out of his condominium with his girlfriend, Hailey Himes, told WPTV’s Ethan Stein developers offered around $700,000 for each of the condos he and his father own at the property. He said some owners, who held out, might have received payments around $1 million.

 

“It’s a nice payday,” Sabol said. “You know that’s the reason we’re all moving out. You know we all agreed on a price. I’ve been here about four or five years. It served me well. I’d like to the city grow.”

The building, according to county documents, was constructed in 1962 and turned into 39 condominium units in 1984 across three stories. The new construction would keep the same amount of units across 18 stories. According to the justification statement, developers are trying to attract corporate executives with luxury condominiums.

“The project provides new high-end multifamily housing that supports the corporate and business relocation efforts of the city,” wrote Urban Designs Studio on behalf of developers. “If the city does not provide an adequate supply of housing stock for the corporate relocations that the city has worked so hard to achieve, the corporate executives that have made the decision to move their businesses to the city will be forced to move to nearby cities for personal housing. This would be a tremendous economic and human capital loss to the city and would also create unnecessary traffic into and out of the city as these people commute to the downtown from outside of the city limits.”

Documents show developers are also offering $100,000 to buy playground equipment at George Petty Park; a donation totaling $50,000, paid over five years to the Audubon Islands Sanctuary; and a $100,000 contribution for flood protection for Flagler Drive during king tides, if the project is approved.

Documents also show developers are offering to build a public open space pedestrian plaza along South Flagler Drive with a hydration station for people along with a planter wall with seating. According to documents, the developer will also pay about $20,000 to the School District of Palm Beach County to supplement the impact of adding one student to the district's elementary, middle and high schools.