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Retail Portion of $550-Mil CityPlace Complex Has Grand Opening

WEST PALM BEACH, FL-The developers are expecting an 11% return on their $250 million investment. If they succeed, it would rank the venture among the top 10% to 15% in profitability for shopping centers in the country.

By Harold Kelman | Updated on October 30, 2000

WEST PALM BEACH, FL-A 55-acre redevelopment tract along the major Okeechobee Boulevard traffic artery into this city’s Downtown continues to be transformed into a multiblock hub of retail, office, housing, hotel and entertainment uses serviced by some 3,000 free parking spaces.

A 110,000-sf Macy’s department store had a soft opening earlier in the month, but Oct. 27 was the official debut for Palladium at CityPlace.

About half the tenants met the grand-opening deadline for the retail component of Downtown’s new $550-million mixed-use CityPlace development. By the time a 20-screen Muvico multiplex opens in December, the rest of the 70 pre-leased stores and restaurants are expected to be operating.

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