PEBB, Banyan Announce 71,000-SF Retail Development

PEBB Enterprises and Banyan Development are poised to bring much-needed retail and other commercial space to Port St. Lucie’s master-planned Tradition, a community exploding with residential growth. The frequent joint venture partners have a contract to acquire nearly 15 acres for the future construction of the Shoppes @ the Heart of Tradition.

The project name is a nod to its location adjacent to the “Heart” sculpture acclaimed international artist JEFRË is designing and constructing at Tradition. The much-anticipated completion date of the sculpture is Valentine’s Day 2022.

The site is just south of the intersection of Tradition Parkway and the I-95 interchange along Village Parkway and Mattamy Homes’ Manderlie residential community.

After closing, the venture plans to construct a 71,000-square-foot neighborhood grocery-anchored shopping center. It is already in discussions with several potential grocery tenants.

Mattamy partnered with BEEP Autonomous Solutions to create an autonomous vehicle network – Tradition in Motion (TIM) – that is operational throughout the community. PEBB and Banyan’s project site connects to a main drop-off/pick-up area for the autonomous shuttles.

“This project will be a central hub for Tradition residents to shop and gather around the iconic Heart sculpture,” Banyan Development Principal Jason Sher said. “We have followed the growth of this area and saw an opportunity to complement the incredible work of Mattamy and other homebuilders in creating a critical mass of residents and complementary services, retail offerings and amenities.”

The project site also will also provide direct resident access to Telaro at Tradition, Mattamy’s upcoming premier 55+ active-adult residential community.

“We are excited to team up again with Banyan, this time making our initial foray into Port St. Lucie,” PEBB Enterprises President and CEO Ian Weiner said. “The location and residential population make this an ideal retail development opportunity.”

PEBB and Banyan are partnering on several investments and developments in Palm Beach County. The venture is developing the mixed-use Mainstreet at Boynton project in Boynton Beach.

 

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