The former Jai Alai Fronton at Mangonia Park in West Palm Beach has been selected for a new, $500 million business and technology center. The center is the vision of Victor Palacios, a former real estate broker and businessman. Palacios said his Palm Beach Business and Technology Center would feature businesses and vocational schools as well as a K-12 charter school, a cultural center, a sports venue, some retail and dining, and even a hotel.
The Mangonia Park, a 53 acre piece of land on 45th street that has been owned by boxing promoter, Don King since 1999. The land has been vacant and unused since 1994. It has been appraised by the Palm Beach County Property Appraiser and was given a market value of nearly $7million.
The possible Business and Technology Center offers a great opportunity for the area, however there is no confirmed purchase yet. Palacios said he has not finalized a deal with King yet, nor commented on what the purchase price might be but he did say that King “is supporting the project 100 percent.” Palacios said he hoped to start turning shovels in a year, finish the $127 million first phase in three years, and complete all five phases in six to seven years.
Stay tuned for more information to come soon with the developments and purchases of Mangonia Park in West Palm Beach.