464 Fern St
West Palm Beach, FL 33401

The buildings themselves are historical landmarks (as per the West Palm Beach Register of Historic Places, the Karl Riddle House - 464 Fern Street is listed as a “Historic Site). Built in 1930 at what is today a great location, the property had been utilized as the Medical Office for City employees. For prospective buyers with an eye on renovation, it is easy to envision the potential for the buildings and their inherent charm. Once renovated, the benefits of the Historic Landmark designation may potentially include….. •Up to a 20% tax credit on the cost of rehabilitation •An Ad Valorem Tax Exemption Program (for up to 10 years) •Certain Transferable Development Rights It is easy to imagine Law, CPA and other professional firms being attracted to the site as well as medical or dentist offices. Even an art gallery, small museum or special events center might benefit from the charm of the buildings. For prospective buyers that are attracted to the intrinsic value of the land and with development of the site in mind, there is also a direct path. As a Historical Landmark, the two structures would need to be relocated to another lot within the City (the good news is that the City has a few locations and the costs are not likely to be prohibitive relative to the land value). The development of the site will then be controlled by the Downtown Master Plan (DMP) designation as QGD-10.