The Sail Club is coming down.
On Thursday, Mayor Jeri Muoio announced the building off Clear Lake will be demolished immediately.
The process should take several months, according to staff with the BG Group which is behind the demolition.
The new owner of the property is local developer Jeff Greene.
Greene owns numerous other properties across Palm Beach County.
On Thursday, he said it wasn't clear yet what was going into the site, which is close to Congress Avenue between Palm Beach Lakes and Okeechobee.
"I can't tell you exactly what we'll build. But I can tell you that whatever is here, everyone will see as they leave West Palm Beach. We'll make sure that it's architecturally and aesthetically pleasing," Greene said Thursday morning.
Mayor Muoio says the current zoning allows the construction of multi-family housing.
Any changes to the zoning permitted for that location will be voted on at an upcoming city commission meeting on February 29.
Green said that there are very few properties left to purchase in Palm Beach County, which is why he was quick to buy the property.
"The location's perfect, the site's amazing--right on the water. How could I not want to own it," Greene said.
He anticipates he'll have plans for the property between the next 5 or 6 months.
Greene also wants to construct what he called an "Emerald Necklace," creating a sidewalk that stretches around Clear Lake as much as possible, to allow bicyclists and pedestrians to exercise along the lake.