3 companies interested in Digital Domain site in downtown West Palm Beach
WEST PALM BEACH, Fla. -- The Palm Beach Post has learned the names of three companies interested in buying the old Digital Domain site in downtown West Palm Beach.
According to the Post, the investors are the Related Group, developer Michael McCloskey and HUB Holdings.
This lot, which sits along Okeechobee Blvd. and Dixie Hwy, is being used as a parking lot.
It was supposed to be the site for Digital Domain and FSU's animation institute until the company filed for bankruptcy last year.
The three potential investors wanted to remain anonymous according to public records.
Related Group already owns CityPlace.
According to the Post, they want to develop a convention center hotel.
They're already launching a new office tower next to the lot.
The Post reports that Related Group has backed Mayor Jeri Muoio and former Mayor Lois Frankel during their campaigns.
Developer Michael McCloskey, owns a realty investment company in West Palm Beach.
Sources told the Post that McCloskey may consider building a medical health care educational center and try to get the University of Miami involved but UM spokespeople have denied those rumors.
McCloskey told the Post he knows Digital Domain owner John Textor, but said Textor would not be involved with the project.
HUB Holdings, an Abu Dabhi development company, has expressed interest in a digital partnership with West Palm Beach and FSU.
The Post reports that HUB Holdings hoped to replace Digital Domain after the company's deal with the university fell through.
According to the Post, in 2012, HUB Holdings pledged to give 100 million dollars in grant money to Digital Domain to establish a media school.
There's been no word on when the city will choose a developer.