The future Alton Town Center will include restaurants, stores, a gas station and a bank. Rendering courtesy of Urban Design Kilday Studios
A Palm Beach Gardens developer closed a $7.25 million deal with a Kolter Group subsidiary last week to buy 12.5 acres in Alton, according to property records.
With the purchase, Brock Development and North American Development Group now control a total of 41 acres in the Alton development just east of I-95 on the south side of Donald Ross Road. The property will be developed into a roughly 360,000-square-foot Alton Town Center with restaurants, a home improvement store, a grocer and fitness center.
Brock bought the first 28 acres of the 41-acre parcel from Kolter for $22.75 million in early 2015. Kolter Group bought the 41 acres for $13.9 million in 2013, according to property records.
The Palm Beach Gardens City Council approved the plan for the Town Center in November. The businesses could be open as early as next year.
Brock Development also built Donald Ross Village in Palm Beach Gardens and the Abacoa Plaza in Jupiter.
Ken Tuma, planner for the Alton Town Center, previously said the developers envision it will be similar to Donald Ross Village, which features roughly 200,000 square feet of retail and restaurant space across from the Abacoa entrance.
From Northern Palm Beach County. For more information, visit – http://ift.tt/2iGGO8K
