Minto's Controversial Western Community is a “Done Deal”
After years of lawsuits and disputes with local Acreage/Loxahatchee residents, big developer Minto’s western Palm Beach County project has finally been given the go ahead by state officials. The litigation had slowed the 3,800-acre project.
Westlake, as it will be known, will be located just off Seminole Pratt Whitney Road and could have more than 4,500 homes and 2.1 million square feet of commercial and civic space. A large portion of the property, however, will not be built up. 55 percent of the land will remain as parks and lakes.
Although the project is expected to help increase market values for Acreage and Loxahatchee homeowners, many residents voiced their concerns that the project would negatively impact the make-up of the western agricultural community.
Fed Rate Watch!
Federal Reserve Chairman Janet Yellen told Congress this Wednesday morning that the central bank is on track to raise interest rates this year. It is expected that the first hike will come in September.
“If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate,” Yellen said in her testimony to Congress. This would mark the first rate hike after more than six years.