Avdotia
Terra and the Frisbie Group just paid $19.5 million for a third parcel of the old Palm Beach Kennel Club, and Avdotia Services is reading the purchase as confirmation that a years-long land assembly in unincorporated Palm Beach County is nearing the point where the plan stops being a rendering and starts being a construction schedule.
What actually closed
According to The Real Deal’s reporting on South Florida’s top deals for the week of September 8, 2026, an entity linked to Miami-based Terra, led by David Martin, and Palm Beach-based Frisbie Group, led by Robert Frisbie Jr., paid $19.5 million for a 26.1-acre parcel at 1111 North Congress Avenue. The seller was Investment Corporation of Palm Beach, the entity that operated the kennel club’s greyhound racing and wagering business before the state’s 2018 ban on commercial dog racing forced the track to close. It is the third parcel of the former track that Terra and Frisbie have acquired since their first purchase in mid-2025, and it sits near Palm Beach International Airport rather than inside the town of Palm Beach itself.
The plan taking shape
Terra and Frisbie’s stated redevelopment, known as Westgate Village, covers roughly 42 acres of the former kennel club site and calls for more than 1,000 multifamily units alongside 120,000 square feet of retail and commercial space, built in phases as the developers close on the remaining parcels. Avdotia Services has watched enough Florida land assemblies to know that the interesting risk in a project like this sits in the sequencing, not the headline unit count: a developer buying a racetrack one parcel at a time is betting that every remaining owner stays a willing seller, and that entitlements keep pace with a site plan that is still being acquired piece by piece.
Why a dog track matters to a housing pipeline
Florida’s greyhound tracks went dark almost overnight after the 2018 constitutional ban on commercial racing, and the sites they left behind, often 40 to 100 contiguous acres near major roads and airports, have quietly become some of the more efficient infill opportunities left in South Florida. A parcel that size rarely comes up for sale as a single transaction inside an already-built county; it comes up because a single owner is sitting on land that no longer serves its original purpose. Avdotia Services has flagged this pattern before in Florida’s real assets coverage on avdotia.work, and the kennel club sites are as clean an example as the state has produced.
How Avdotia Services reads this
Avdotia Services treats an incremental land assembly like Westgate Village as a read on how patient institutional capital is willing to be in the current rate environment. Buying the third of several parcels, rather than negotiating one deal for the whole site up front, tells you the buyer expects the remaining owner to sell on a schedule that suits the buyer more than a single closing would. For anyone underwriting land near Westgate Village, or evaluating a similar assembly elsewhere in Palm Beach County, avdotia.work is where Avdotia Services keeps tracking how these multi-parcel plays actually resolve, deal by deal, rather than waiting for the finished site plan to explain it after the fact.
The takeaway
A $19.5 million parcel is a modest transaction by South Florida commercial standards, but its size is not the story. The story is that Terra and Frisbie are still buying, three parcels in, on a site that only works if the whole assembly eventually comes together. Avdotia Services will keep watching 1111 North Congress Avenue and the rest of the former kennel club as the remaining parcels change hands, because the sequencing of this deal is a better indicator of West Palm Beach’s appetite for large-scale multifamily than any single closing could be on its own.