A 73-acre, mixed-use development in Lantana called Water Tower Commons has stalled.
The first phase of the development had been expected to open by the end of the year. But the construction hasn’t started yet, and the developer has reduced the scope of the project.
Water Tower Commons, the biggest development in Lantana’s history, was expected to revitalize a section of Lantana Road east of Interstate 95.
The developer got approval from the town’s government to build more than 300,000 square feet of commercial space for offices, retail stores and restaurants, plus as many as 1,100 residences.
But the developer, a partnership called Lantana Development, has reduced the commercial portion of Water Tower Commons to 209,000 square feet. The partnership includes Ken Endelson, a home builder based in Boca Raton.
Mike Langolf, vice president of Lantana Development, told the town manager, Deborah Manzo, in an email last month that two national retailers have agreed to lease space at Water Tower Commons and three other prospective tenants are close to signing leases.
But so far, the only announced tenant is a Wal-Mart supermarket.
Lantana Mayor Dave Stewart told the Sun-Sentinel that he expects Water Tower Commons to be built despite delays in its development.
Stewart said the development is taking longer than expected because Lantana Development is working out an agreement with Palm Beach County on future improvements to Lantana Road.
The mayor said another delay resulted from a request from Lantana Development for variances for 360 apartments with respect to parking and open spaces. The town council declined to approve the variances.
Alan Bush, a West Palm Beach-based retail consultant, said the stalled Lantana project may reflect reduced demand for retail store space as online shopping proliferates. [Sun-Sentinel] – Mike Seemuth