Port St. Lucie expects to sell $10 million worth of city-owned land in the Tradition Commerce Center by the end of the year.
The city spent $6.8 million in carrying costs, mainly for assessments, since taking over 1,223 acres in the commerce center from Tradition Land Co. on June 28, 2018.
The city sold two parcels on Discovery Way totaling 10.6 acres for $473,016 since the takeover. The sales reduced the city’s share of the commerce center assessments by about $62,000.
Those were the highlights of an update administrators and planners gave the City Council Monday about progress in the former citrus grove along Interstate 95 dubbed the “Tradition Jobs Corridor.”
The council also voted unanimously to pay the Treasure Coast Regional Planning Council $225,000 to formulate a master plan for the jobs corridor. The city is expected to finalize the plan in July 2020.
The city must continue marketing and selling land in the commerce center to bring in revenue and reduce expenses while the master plan is being developed, several council members said.