FORT PIERCE, Fla. — An $85 million development is being proposed on a 7-acre site of coveted land in Fort Pierce- the same site Virgin Trains is eyeing for their own potential use.
The CEO of Audubon Development, Dale Matteson, is proposing a mixed-use property for the H.D King site along Indian River Drive in Fort Pierce, calling it King's Landing.
“Fort Pierce has that beautiful little downtown that’s just waiting to happen. So, we’d like to build an infrastructure, we like the spirit of fort pierce, we like the location of the land,” Matteson said.
Matteson said their upscale project would include the following:
• 40,000 square feet of retail space
• A 120 room Marriott Hotel
• 60 condominiums
• Multi-Family rental units
• Public Park
• Banquet Hall
• Pedestrian Walkway
The city of Fort Pierce and the Fort Pierce Redevelopment Agency sent out Requests for Qualifications in November of 2018. They received five responses by Jan. 23, 2019. Then, the FPRA created a shortlist to ask to submit Request for Proposals. The RFP shortlist consisted of Audubon Development, BH3 Management, Marina View Partners Holding and Virgin Trains USA.
BH3 Management and Marina View Partners withdrew from the process, leaving just Audubon Development and Virgin Trains.
Matteson believes his proposal would bring approximately 1.8 Million in tax revenue to the city each year, not including the hotel. However, Matteson said they will be asking the city to donate the land and provide tax credits to for 5 years.
Matteson also says his proposal could allow for Virgin Trains to still travel to Fort Pierce, as he says they can implement the train into the King's Landing project.
“They, to no fault of their own, are encumbered with the is it Stuart Is it Fort Pierce dilemma. And then all of the red tape and restrictions and time delays that come with running a railroad… I think that’s the big difference. We’re ready to go,” Matteson said.
Friday, the city could release renderings of what Virgin Trains would propose in Fort Pierce.
Audubon Development and Virgin Trains will make their formal presentation to the city on June 13.