Developer Mike Masanoff is seeking $80 million in tax incentives from West Palm Beach for his transit-oriented project near the new Tri-Rail station. The $400 million development, Transit Village, is a mixed-use project that will include a 300-key, 13-story hotel, a 21-story office tower, a 25-story apartment complex with workforce housing, townhouses, and 33,000 sqf of retail space. Masanoff told commissioners that the incentive package is needed to get construction financing approved. The city is exploring funding options, but could cut the project a tax break for a certain number of years or issue the incentives in the form of bonds. If green-lighted the scheme is expected to break ground early next year and to complete by 2020.
