Officials in the affluent Town of Palm Beach are encouraging its residents to actively participate in the development decisions of the neighboring city of West Palm Beach, citing concerns over increased traffic and density.
During a July 14 town council meeting, Palm Beach officials acknowledged they cannot directly control West Palm Beach's growth but suggested residents could influence the outcome by joining regional transportation committees or supporting candidates who favor more controlled development. Council members also proposed residents attend public discussions regarding potential changes to West Palm Beach's master plan, which could allow for buildings up to 25 stories, denser housing, and reduced parking requirements.
The primary concern for Palm Beach officials is the potential for gridlock, exacerbated by West Palm Beach's rapid expansion. Council President Pro-Tem Lew Crampton stated that the region is becoming a "regional superstructure" with West Palm Beach poised to become "the next big city in Florida." Council Member Julie Araskog expressed alarm that proposed changes, including Mayor Keith James' plan to close a portion of a main thoroughfare for a new waterfront park, could lead to "absolutely insane" traffic on the bridges connecting the two municipalities.
West Palm Beach has undergone a significant transformation in recent years, evolving from a city with aging infrastructure to a hub for financial firms, earning it the nickname "Wall Street South." The influx of over 300 hedge funds and private equity firms, coupled with Florida's tax advantages and climate, has attracted financial professionals and remote workers. This boom is partly attributed to the relocation of major firms, including Citadel, Goldman Sachs, and BlackRock, which followed Citadel founder Ken Griffin's decision to operate his firm from Palm Beach during the COVID-19 lockdown. The city is also experiencing growth in tech startups, attracting younger professionals.
Developer Stephen Ross of Related Companies has been a significant force in West Palm Beach's revitalization, envisioning it as a future business and cultural center akin to Silicon Valley. His company has developed millions of square feet of commercial space, with plans for more, including office towers and a graduate campus for Vanderbilt University, which aims to supply talent in fields like AI and cybersecurity. Cleveland Clinic is also establishing a new hospital in the area.
Currently, West Palm Beach has dozens of development projects underway or approved, totaling millions of square feet of space. These include new residential buildings, hotels, and a private club. Projects like the Edgewater residential development and the Nora East and Nora West mixed-use buildings are part of this expansion. Additionally, over 2 million square feet of space is under construction, including new hotels and dormitories for Atlantic University.
In contrast, the Town of Palm Beach, known for its historical Gilded Age aesthetic and luxurious estates, has a median home price exceeding $3 million. Its limited road capacity and barrier island location have long made it susceptible to traffic congestion, particularly during peak seasons.
Despite the concerns, Crampton acknowledged potential benefits from West Palm Beach's growth, such as the new Vanderbilt campus and private school, and expressed hope that new entertainment venues would retain visitors within the city. However, he stressed the need for Palm Beach residents to be involved in local boards and commissions to voice their perspectives.