Economic Development and Gentrification in West Palm Beach
West Palm Beach experiences economic development, attracting newcomers due to warm weather and low property tax, with luxury condos and businesses flourishing. Stephen Ross plays a key role in the city's transformation but faces controversies. Gentrification causes concerns for middle- and lower-class residents.
Key Points
- West Palm Beach experiences economic boom spurred by real estate tycoon
- Growth in population and development of luxury condos and businesses
- Concerns over gentrification and rising housing prices
- Efforts to address fairness and inclusivity in development
Pros
- Economic growth and development in West Palm Beach
- Attracting new residents and businesses
- Creation of luxury amenities and downtown areas
Cons
- Gentrification leading to rising housing prices
- Squeezing out middle- and lower-class residents
- Controversies surrounding developer Stephen Ross