Allen Morris Acquires Savanna’s West Palm Beach Site for $16.8M, Plans Pine Street Residences
Allen Morris and Savanna plan Pine Street Residences, a 14-story community with 305 rental homes in West Palm Beach. The Oppenheim-designed project includes retail, a landscaped park and an anticipated Q4 2027 construction start.
The Allen Morris Company is planning Pine Street Residences, a 14-story, Class A rental community with 305 homes in West Palm Beach, in partnership with Savanna. The Coral Gables developer acquired the approximately 1.4-acre assemblage from Savanna for $16.8 million and will lead the development as managing member.
Located on Pine Street between North Flagler Drive and U.S. 1, the property is one block from the Intracoastal Waterway. The site includes 1830 North Dixie Highway and adjoining Pine Street parcels, placing the project within the city’s emerging residential corridor.
Oppenheim Architecture is designing the development, with Baker Barrios serving as architect of record. Allen Morris’ project materials outline approximately 210,000 square feet of residential space and 5,000 square feet of ground-floor retail, combining rental housing with new activity at street level.
The plan calls for a landscaped park organized around a monumental banyan tree, along with a curated dining concept. Renderings supplied by The Allen Morris Company show curved balconies, planted terraces and landscaped pedestrian areas that connect the building to its surroundings.
The residences are intended for young professionals seeking design-focused homes at attainable rents, according to the company’s project materials. Specific rental rates and a detailed apartment mix have not been announced. The materials identify financing through HUD’s Section 221(d)(4) program and anticipate a fourth-quarter 2027 construction start, with completion targeted for the fourth quarter of 2029.
Pine Street Residences joins Olara and Shorecrest along a growing West Palm Beach residential corridor. Allen Morris points to institutional expansion involving ServiceNow, Cleveland Clinic and Vanderbilt University as part of the area’s broader growth. The proposed project also extends a South Florida portfolio that includes Ponce Park in Coral Gables and Ziggurat in Coconut Grove. Plans and anticipated dates remain subject to change.
Renderings courtesy of The Allen Morris Company.
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Allen Morris and Savanna plan Pine Street Residences, a 14-story community with 305 rental homes in West Palm Beach. The Oppenheim-designed project includes retail, a landscaped park and an anticipated Q4 2027 construction start.