Editing South Palm Beach, Florida (section)

==Economy==
===Business===
[[File:South Palm Beach - Ocean Inn.jpg|thumb|right|Palm Beach Oceanfront Inn (2009). The inn was demolished in April 2016.]]

Initially built in 1964, the Polynesian-inspired, 58-room Palm Beach Oceanfront Inn and its ocean-front [[restaurant]] Tides Bar and Grille, located at 3550 South Ocean Boulevard, made up the only [[Commerce|commercial]] business establishment within the town of South Palm Beach.<ref>{{cite news|url= http://www.palmbeachdailynews.com/biz/content/news/SPBCONDO1030.html |last=Rogers |first=David |title=South Palm Beach board to tackle Oceanfront Inn plan |newspaper=The Palm Beach Daily News |date=October 30, 2007 |archive-url= https://web.archive.org/web/20071117065514/http://www.palmbeachdailynews.com/biz/content/news/SPBCONDO1030.html |archive-date=November 17, 2007 |access-date=September 30, 2019}}</ref> It was described as "one of the last vestiges of old Florida along A1A."<ref>{{cite web |last1=Salisbury |first1=Susan |title=Former Palm Beach Hawaiian Ocean Inn to be razed for six-story condo |url= https://www.palmbeachpost.com/business/real-estate/former-palm-beach-hawaiian-ocean-inn-razed-for-six-story-condo/BAaNUUT48NtTm8F9oLbJkJ/ |work=The Palm Beach Post |access-date=November 29, 2018}}</ref>

Kosova Realty bought the inn for $3.3 million in 2002. It named it Palm Beach Oceanfront Inn.<ref name="sells">{{cite web |last=Miller |first=Kimberly |title=South Palm Beach oceanfront hotel sells for $8 million |url= https://www.palmbeachpost.com/business/real-estate/south-palm-beach-oceanfront-hotel-sells-for-million/kfmXOkrtcwvoaxBeKQtdZI/ |work=The Palm Beach Post |date=January 15, 2013 |access-date=September 30, 2019}}</ref> Known to locals by its former name, the Hawaiian Inn, the two-story motel lost most of its beach during [[Hurricane Wilma]] in 2005 and was not being maintained.<ref>{{cite news| newspaper=Coastal Star |title=South Palm Beach: Locals say aloha to former 'Hawaiian' Inn |first=Chris |last=Felker |date=October 1, 2014}}</ref>

A proposal by the Paloka family-owned-and-operated realty company to replace the inn with a luxury resort-style 12-story [[Condominium (living space)|condominium]]-[[hotel]] built over two stories of parking was unanimously rejected by the South Palm Beach Town Council in October 2007.<ref>{{cite news|url= http://www.palmbeachdailynews.com/biz/content/news/southpalmbeach1101.html |last=Kacoha |first=Margie |title=South Palm Beach rejects plan to redo inn |newspaper=The Palm Beach Daily News |date=November 1, 2007 |archive-url= https://web.archive.org/web/20071117065532/http://www.palmbeachdailynews.com/biz/content/news/southpalmbeach1101.html |archive-date=November 17, 2007 |access-date=September 30, 2019}}</ref> The established comprehensive plan limits new buildings to six-stories over one-level of parking.

On September 18, 2009, the Treasure Coast Regional Planning Council meeting expressed concerns about the redevelopment. It recommended that the Town of Palm Beach respond to citizens' negative opinions before adopting the amendments and ensure that development approval conditions address problems with the use, height limits, and negative impacts on the beaches.<ref>{{cite web|author=Treasure Coast Regional Planning Council |title=Draft Amendments to the Town of South Palm Beach Comprehensive Plan DCA Reference No. 09-1 |date=September 18, 2009 |url= http://www.tcrpc.org/council_meetings/2009/SEPT09/Final%20Reports/5I%20South%20Palm%20Beach%2009-1.pdf |access-date=September 30, 2019}}</ref>

[[File:South Palm Beach FL town hall front with Jeep.jpg|thumb|right|Town Hall and Police Department building (2003)]]

The Paloka family tried to change the town codes to allow a bigger building such as a 14-story condominium and "were willing to build the town a public safety building and new town hall to sweeten the deal."<ref name="Roach">{{cite news |last=Roach |first=Emily |title=South Palm Beach's Oceanfront Inn for sale |url= https://www.sun-sentinel.com/business/fl-xpm-2012-01-30-pb-inn-for-sale-20120130-story.html |work=South Florida Sun-Sentinel |agency=Palm Beach Post |date=January 30, 2012 |access-date=September 30, 2019}}</ref> They increased business at the property during 2011 and were planning capital improvements, but foreclosure proceedings began.<ref name="Roach"/> Kosova Realty filed for Chapter 11 bankruptcy in March 2012.<ref name="sells"/><ref>{{cite web |title=Kosova Realty Corp Bankruptcy (9:12-bk-15431), Florida Southern Bankruptcy Court |url= https://www.pacermonitor.com/public/case/106988/Kosova_Realty_Corp |website=pacermonitor.com |access-date=September 30, 2019}}</ref>

In November 2012, the operation was purchased by Paragon Acquisition Group of Boca Raton, a distressed property development company, with plans to improve and revive the facility and "possibility of a development project in the future."<ref>{{cite news|first=Tim |last=O'Meilia |title=New inn owner wants 'neighborly' update to hotel |work=The Coastal Star |page=10 |date=December 2012 }}</ref> DDG then partnered with investor Gary Cohen of Paragon on the development.<ref>{{cite news |last=Hofheinz |first=Darrell |title=Planned beachfront condo near Palm Beach launches revamped website |url= https://www.palmbeachdailynews.com/business/real-estate/planned-beachfront-condo-near-palm-beach-launches-revamped-website/MfK9vNsR99KyOfSXayt2QP/ |work=Palm Beach Daily News |date=November 16, 2016 |access-date=September 30, 2019}}</ref> According to the CEO of developer DDG, Joseph A. McMillan, Jr., in 2012 a DDG affiliate paid $8.25 million for the {{convert|1.1|acre|1|adj=on}} site.<ref name="sells"/><ref name="Huriash">{{cite news |last=Huriash |first=Lisa J. |title=Need a lift? New luxury South Palm Beach condos will provide private jet service |url= https://www.sun-sentinel.com/business/fl-bz-south-palm-beach-oceanfront-development-20181009-story.html |access-date=September 30, 2019 |work=South Florida Sun-Sentinel |date=October 11, 2018}}</ref><ref>{{cite web |last1=Solomont |first1=E.B. |title=The Closing: Joe McMillan |url= https://therealdeal.com/issues_articles/the-closing-joe-mcmillan/ |publisher=The Real Deal |date=August 1, 2018 |access-date=September 30, 2019}}</ref> Although the property has received minor renovations and is being managed as a hotel and restaurant, the long-term prospects for it are for condominiums according to the CEO of Paragon.<ref name="upgrades">{{cite news|first=Jane |last=Smith |title=Hawaiian' sees upgrades under new owners |work=The Coastal Star |page=23 |date=January 2014 }}</ref><ref name="demolished">{{cite web |last=Doris |first=Tony |title=Aloha to good times; former Hawaiian Inn demolished |url= https://www.palmbeachpost.com/news/local/aloha-good-times-former-hawaiian-inn-demolished/7k6E9Xg1gP8BKIGeLn7IsO/ |work=The Palm Beach Post |access-date=November 29, 2018}}</ref>

The current zoning for oceanfront property in the town allows 33 units per acre, while a more dense project would require a referendum.<ref name="upgrades"/> Plans by DDG were announced for 30 residential units to be built above a one-story parking garage.<ref>{{cite news|first=Alexandra |last=Clough |newspaper=Palm Beach Post |date=May 16, 2016 |title=New luxury condo to rise in South Palm Beach}}</ref><ref>{{cite web |title=3550 South Ocean |url= http://ddgpartners.com/projects/3550-south-ocean-2/ |publisher=DDG Partners |access-date=September 30, 2019}}</ref> The old motel and restaurant on the site were demolished in April 2016.<ref name="demolished"/> Marketing for the new 30-unit building featured amenities such as a concierge service, a dog park, and a private jet service.<ref name="Huriash"/> In June 2018, the building "officially topped out, reaching its full height of seven stories."<ref>{{cite web |last=Gambrell |first=Holly |title=Palm Beach's 3550 South Ocean Condo Tops Out, Development Progresses |url= https://www.palmbeachermagazine.com/noteworthy/palm-beachs-3550-south-ocean-condo-tops-out-development-progresses |publisher=The Palm Beacher |date=June 14, 2018 |access-date=September 30, 2019}}</ref> September 2019 marked the completion of the building.<ref>{{cite press release |title=Oceanfront Condo In A Decade Celebrates Completion |url= https://www.abc-7.com/story/41059482/palm-beachs-first-new-oceanfront-condo-in-a-decade-celebrates-completion |publisher=ABC 7 |via=DDG Partners |date=September 17, 2019 |access-date=September 30, 2019}}</ref>

{{clear}}