$290M West Palm Beach Convention Hotel Proposed for Just $1
Billionaire developer Steve Ross and his company, Related Ross, have proposed building a 400-room West Palm Beach convention center hotel for $290 million. The catch? They want to buy the land from Palm Beach County for just $1, then lease it back for 99 years. It sounds shocking, but this is not Ross's first time using this structure. His earlier Hilton West Palm Beach hotel used the same strategy and transformed the city's convention business.
This new proposal for 900 South Rosemary Avenue, currently a parking lot, could add much-needed hotel space near the convention center. But it also raises questions about how land, taxes, and public benefits intersect in large real estate deals.
Why West Palm Beach Needs Another Convention Center Hotel
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