Integra Investments, a Miami-based real estate investment and development firm, has recently acquired the 19-acre Lantana Village Square shopping center with plans to transform it into a mixed-use community featuring Class-A housing catered towards the workforce. This redevelopment project will take advantage of the Live Local Act, which aims to increase affordable housing opportunities and promote greater workforce stability in the marketplace.
Lantana Village Square is home to a 165,000-square-foot shopping center with well-known tenants like Winn Dixie, Subway, West Marine, and H&R Block. Integra’s vision for the property includes the ground-up redevelopment of a vacant K-Mart within the shopping center to create modern multifamily apartments at attainable rates, all while incorporating complementary retail spaces.
1301 S. Dixie Highway – Lantana Village Square. Photo from Google Earth.
The property enjoys an enviable location, steps away from the Intracoastal Waterway and less than one mile from South Palm Beach and the Town of Manalapan. The site is easily accessible via Hypoluxo Road, making it a rare find in the tri-county area east of I-95 and along US1.
“We are excited to embark on this transformative redevelopment in Lantana, an area in great need of more attainable housing within a vibrant, integrated community,” said Victor Ballestas, principal of Integra Investments. “Our past success developing complex mixed-use projects, like Aventura ParkSquare and Hallandale ArtSquare, demonstrates our commitment to creating thriving and thoughtful communities for the benefit of its residents and the surrounding neighborhood. We intend to replicate that success here by delivering high-quality housing options, while fostering a dynamic retail environment that will benefit Lantana.”
1201 S. Dixie Highway – Lantana Village Square. Photo from Google Earth.
The Live Local Act, a comprehensive statewide workforce housing strategy, plays a crucial role in Integra’s plans for Lantana Village Square. The acquisition aligns with the firm’s legacy of developing affordable and workforce housing, and they are determined to work with the Lantana community to create one of the first projects leveraging the benefits of the Live Local Act.
The site acquisition, which involved purchasing the addresses 1201 and 1301 South Dixie Highway and 457 Greynolds Circle, was made from Lantana SDC LLC, an affiliate of Saglo Development, at $14.85 million. Bradesco Bank provided the necessary acquisition financing.
Integra Investments, renowned for its significant contributions to commercial real estate throughout Florida, has been involved in notable ventures such as Aventura ParkSquare, Hallandale Beach’s ArtSquare, and Miami’s St. Regis Residences.
457 Greynolds Circle. Photo from Google Earth.
The Lantana Village Square shopping center has seen changes in recent years, with the largest space, a vacant 84,350-square-foot retail box once occupied by Kmart, becoming the focus of redevelopment efforts. Previous plans for this space didn’t materialize, but Integra Investments now intends to develop modern multifamily apartments to serve the area’s workforce. Leveraging the Live Local Act’s benefits, the project may include the highest-density multifamily development within Lantana city limits without requiring a public hearing.
Representatives from Integra Investments have indicated that the project’s first phase will likely include just over 400 units, and they are working closely with George Mouriz of MSA Architects to bring this project to life. As Integra Investments continues solidifying its presence as a leader in Florida’s commercial real estate landscape, the redevelopment of Lantana Village Square is poised to be a significant milestone in providing much-needed quality housing for the local workforce.
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