Main Squeeze: King's Landing has a meeting Monday and it is decision time

Monday September 14th at 5:05 p.m. the Fort Pierce City Commission meets to figure out what to do with King's Landing 🏗️.

Here is where we are right now. Live Oak Contracting, the current developer, says it is $15 million short of what it needs to build the hotel and restaurant phase of the project, which was promised to be delivered by 2027. They asked the city to either lend them the money or borrow it on their behalf. The city said no.

So now what?

Live Oak is asking for six more months to go raise the money themselves. It seems like some on the commission want to give it to them. Others want to take the property back and find somebody new entirely.

Worth knowing before Monday: the property is still technically owned by Audubon, the original developer, not the city. That complicates things considerably if the city tries to reclaim it. One commissioner has warned that going that route could mean years of litigation, hundreds of thousands in legal fees and a ten year setback. Another says Live Oak is already in legal breach of contract and it is time to move on.

This project was conceived in 2019 as the crown jewel of downtown Fort Pierce. Seven years later the hotel and restaurant site is still sitting empty on a decommissioned power plant site. Monday is a chance to actually do something about it. Public comment is on the agenda 📅.

💬 What do you think should happen with King's Landing? Call or text us at (772) 212-1504