WEST PALM BEACH, Fla. - A change could soon be coming to a property that has been an eyesore in West Palm Beach for a decade.
On Thursday morning, Mayor Jeri Muoio will make an announcement regarding the future of the Sail Club.
The Sail Club buildings sit on the shores of Clear Lake, near the Interstate 95 on-ramps from Okeechobee Boulevard.
Buildings at the location are crumbling with caution tape surrounding the property.
In 2005, the property was purchased for $14 million, but when the real estate market hit some hard times, there was no more money left to develop the property.
Since 2011, it has been declared by the city a "chronic nuisance" and accruing fines ever since.
Muoio and West Palm Beach real estate investor Jeff Green will speak at 9:30 a.m. at the site, located at 719 Executive Center Dr.