Will Palm Beach Gardens Annex Property for 97 Home Project?

South Florida Business Journal
July 21, 2016

Balsamo

A landowner wants Palm Beach Gardens to annex 97.4 acres to build a single-family home community.

The Salvatore J. Balsamo Trust filed an application with the city to annex and develop its vacant property just west of the municipal golf course at 11401 Northlake Blvd. It’s on the east side of the Avenir project, where the city recently approved 3,985 homes plus commercial space for Landstar Development Group.

Balsamo’s project would be called Ancient Tree. It would have 97 single-family homes, a clubhouse, a gym, tennis courts, a playground and two lakes. The project would set aside 15.2 acres for golf recreation dedicated to the city and 2.2 acres of community recreation, including a golf cart path from its clubhouse to the municipal golf course.

The application said the community would have all the amenities of a traditional country club without the annual dues associated with a golf course. Palm Beach Gardens has many golf club communities, which often require pricey annual memberships or equity buy-ins.

The homes would be custom built. The application doesn’t say whether Balsamo, the long-time property owner, has the site under contract to a home builder.