Project Description

JUPITER PARK OF COMMERCE

Jupiter Park of Commerce is currently a “state of the art” business park in Jupiter with one mile of frontage on I-95. Originally, the extension of I-95 had created a landlocked 100-acre parcel zoned for residential and improved with dirt roads. Jupiter was growing but this land had been passed over.

Principals of Midgard assembled ownership through acquisition from over 25 different owners and by cooperative agreement. By annexing the property into the Town of Jupiter, they amended the comprehensive plan and changed the zoning to industrial. The property was platted into a modern business park design with full improvements, covenants, and restrictions to protect value. A local drainage district was empowered to do the improvements and float bonds to pay for them. Negotiations with the Department of Transportation provided physical access to the project, which was better than the alternative: condemnation.

Land use is now compatible with the location, the park fills a real need for the growing businesses in the area, and land values are significantly higher than with the previous poor rural residential use.