4 min read September 2022 — Lake Worth has become one of the most attractive cities in Florida. With the increase in prices in most areas in the state, “Lake Worth Beach is still probably the best bet for your money,” Joan Oliva, executive director of the Lake Worth Beach Community Redevelopment Agency, told Invest:.
What are the major highlights or milestones for your organization over the past two years?
We’ve been incredibly lucky and successful at the same time. We’ve had several purchases of underutilized or vacant properties along Dixie Highway, which is an area that we’ve been trying to attract investment to for quite some time. There are some exciting projects under development including Herff Jones, Palm Beach Modern Auctions, Deco Green and LDG Architecture.
We’ve also been relatively successful at bringing in new residential units. Everyone is aware of the lack in South Florida for affordable units. We’ve been able to attract several projects that are affordable and others that are market rate including the MID, the Bohemian, Sky Garden, the Standard, the Perch, Village Flats, Deco Green and Lake Worth Station. Attracting new housing is something we and the City are actively working on due to the housing crisis in Palm Beach County.
The Lake Worth CRA recently approved an incentive package for the renovation and expansion of the Gulfstream Hotel. This is a multi-million dollar project bringing investment and jobs to the area. There are several new owners Downtown and many new businesses that are either planning to open or have recently opened including CANA restaurant, the Dancing Elephant book store, Feeling It Healthy Spot and Pause Kava and a specialty coffee lounge. There is continued interest in Lake Worth Beach. People always say Lake Worth is one of those places that has a lot of potential, and we do have great bones with several historic districts, a beach, a municipal golf course and a traditional grid system with two exits on 1-95. Neither of them goes directly Downtown, so we have quiet mainstreets that have a lot of charm and a laid-back atmosphere. The City is truly walkable and you can live, go to the nearby Publix, the post office, the bank and stop for coffee by just walking a few blocks.
How are you attracting new residents to Lake Worth?
The strategy has been relatively successful as far as offering incentives and getting people to realize what it has to offer, which is very different from our neighbors. For the most part, Lake Worth Beach is still probably the best bet for your money, whether it’s renting or buying. Prices here are still a little lower than they are in larger cities and it is a collection of neighborhoods. You have a plethora of choices from downtown condos to quiet neighborhoods and now very new units within walking distance to just about everything you need.
We’re very hands-on because we know we have to be. We are very open to people moving into the area from other locations and are welcoming of everyone no matter their lifestyle. When there’s a chance for us to help somebody who is a local come back in and open a business or do some kind of development, that’s special to us because the town is a big community. People here are very passionate about their city and want the best for its future.
How are you helping to update the city?
Since we’re a small and older city, the overall infrastructure wasn’t probably what it needed to be. However, the City has made an effort to upgrade much of the infrastructure in recent years including new water and sewer lines, new roadways, lighting and sidewalks. The CRA offers grants for infrastructure for both small and large projects. Projects that have taken advantage of these include the MID, Alora, the Bohemian and the future Deco Green mixed-use development on Dixie Highway. We offer an infrastructure grant, which is up to $100,000, then we have some smaller grants for facade and tenant improvement and even assistance for smaller items like signage. A lot of the buildings, especially in the Downtown or Historic District, are old and haven’t been renovated in a long time, so having support and extra cash fills that gap and makes all the difference. We are also putting together a new attainable housing program to build more affordable single-family and rental units.
How is the influx of new residents to South Florida affecting Lake Worth?
We’re getting developers and development from Miami and Fort Lauderdale and other areas that perhaps would not have come up here 10 or 15 years ago. I think we also have a large number of people who are getting priced out of other areas and they’re looking to move their business, to live here or both. We offer some nice infill opportunities and land prices are not as high as they are in other larger cities. We’re also a quick drive from anywhere and we have a beach, access to the Intracoastal and many recreational amenities
How is the labor shortage affecting the businesses in your area?
There has been an impact, although perhaps not as severe as other places because we have a very dense community. Perhaps some of the businesses Downtown or on Dixie Highway are finding it difficult to hire and keep staff. As far as construction is concerned, we’re seeing issues related to a lack of construction labor, and costs are high right now, although I don’t think it’s as bad as it has been in other places in the country. South Florida is still a very desirable place to live and work. I think we came through the pandemic pretty well thanks to the local leaders here who continue to ensure everybody does their best to support local businesses. People look out for each other in Lake Worth Beach and that kind of support is priceless.
Is affordable housing a big priority for your organization now?
Yes, it is. We were focusing more on commercial development a few years ago and now our focus is moving back to affordable housing. We do have opportunities here, especially for smaller infill projects. We also have communities that are very accepting of new residences that provide opportunities for households anywhere on the income spectrum.
We’re applying for different kinds of grants. We have great partners that we work with like Habitat for Humanity, Adopt-a-Family, Housing Leadership Council, the Community Land Trust and Neighborhood Renaissance. We’re hoping in the next few years to create at least a couple hundred more units that are attainable for our workforce and families. We are also looking at a buy-down program that would allow the CRA to partner with private development. Our goal is to help provide mixed-income, mixed-use developments that are close to job centers and mass transit.
What is the best solution for affordable housing?
You have to keep a mix of housing choices. You can’t focus on too much just for sale vs. rental. Moving forward, it’s really important to do both. Financing for-sale homes can be difficult and require layers of subsidy but, again, we’re lucky that we have a great working relationship with the Community Land Trust, nonprofit and for-profit partners on that. During the last housing recession, together, we were able to build over 400 affordable units in the City. I believe creating opportunities for people to be able to buy a home is one of the ways that we can help families build equity which can provide more opportunities for future generations. Of course, we also have apartments that are coming online as well for our workforce who may not be ready to buy a home. Having a mix of those two different types is a key to both affordability and building community.
What is your outlook for Lake Worth for the next three to five years?
There are dozens of projects in the pipeline for the next few years. As we get built out as a city, we’re looking for projects that add more than just another unit or another business. Instead, we are seeking development that is affordable and well designed, taking into account the need for projects that incorporate green elements and opportunities for less auto dependence. There’s a push for projects that add to the quality of life and are inviting and community-driven.
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