Loxahatchee, FL (PRWEB) February 01, 2014
Just released independent research and analysis of the proposed Minto West development in western Palm Beach County estimates an economic impact of $1.3 billion during the construction period of the master-planned community as well as a $392 million recurring annual impact on the economy.
Key findings of the research, conducted by John Burns Real Estate Consulting in January 2014, also estimate the creation of 840 jobs during the construction and development of the property and 3,101 post-construction long-term jobs added to the Palm Beach County economy.
“This report confirms what our preliminary research indicated,” said Mike Belmont, president, Minto Florida. “Minto West will create much needed jobs, substantial economic opportunities and provide additional housing options for the residents of the western communities.”
Minto’s vision for the 3,800 acre Minto West property is to design a sustainable community while complementing the surrounding environment. Development rights for the property already include land use approval to build 2,996 residences and 235,000 square feet of commercial and retail. Proposed development plans to be considered by the Palm Beach County Commission later this year include additional residential, recreation facilities, a Town Center, office, retail, a hotel and a spring training baseball complex. Build out of Minto West is expected to take 20 to 25 years.
“Compatibility with the surrounding community is as important as the economic benefit,” said John Carter, vice president, Minto Florida. “Minto West will assist in regional drainage issues, address roadway deficiencies by paying more than $50 million in road impact fees and restore more than 1,400 acres back to natural habitat in the form of perimeter buffers, lakes and parks.”
A complete copy of the “Minto West Economic Impact Report” is available online at http://www.mintoinfo.com.
Residents from surrounding communities who would like to receive periodic updates about Minto West or would like to participate in future community meetings should register at http://www.mintoinfo.com, email mintoinfo(at)gmail(dot)com or call 1-888-299-3628.
About Minto Communities
Founded in 1955, Minto is a family-owned business that has grown into one of North America’s leading builders, with more than 70,000 homes built, including 20,000 in Florida. The company has been building in Palm Beach County for 30 years. Minto creates a wide array of award-winning new homes and resort-style master-planned communities to meet every lifestyle. The company has earned national awards and recognition that include number one ranking by Eliant Homebuyer Choice Awards for percent of sales from referrals, among others. Information about Minto Florida properties is available at http://www.mintofla.com.