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South Florida firm to oversee development of 1,223 city-owned acres in Port St. Lucie

By The Real Deal

Port St. Lucie selected a South Florida company to oversee development of a 1,223-acre property but rejected the company’s bid to buy part of it.

The  city council unanimously voted to select Palm Beach Gardens-based Tambone Companies as master developer of the city-owned property in a joint venture with the city.

The city council separately approved an offer by Publix Super Markets to acquire 20 acres of the property for $3 million, or $150,000 per acre.

The council also rejected a bid by Tambone to buy 210 acres of the property for $5.2 million, or $25,000 per acre, and directed the city manager to negotiate a better offer.

But the council preferred Tambone’s master plan for developing the property over one proposed by Mark Gotz of St. Lucie West, who envisioned an educational campus on the property, which the city acquired in late June.

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