Luxury Waterfront Boutique Condo Alba Palm Beach Breaks Ground In West Palm Beach

BGI Companies and Blue Road Group have broken ground on Alba Palm Beach, a collection of 55 boutique luxury residences, including a limited collection of four unique two- and three-story townhomes, each with unobstructed views of the serene Intracoastal Waterway and their own private plunge pools. Alba Palm Beach has an expected completion in 2025 and is located at 4714 N. Flagler Drive in West Palm Beach.

BGI Companies and Blue Road Group have broken ground on Alba Palm Beach, a collection of 55 boutique luxury residences, including a limited collection of four unique two- and three-story townhomes, each with unobstructed views of the serene Intracoastal Waterway and their own private plunge pools. Alba Palm Beach has an expected completion in 2025 and is located at 4714 N. Flagler Drive in West Palm Beach.

Alba Palm Beach is currently 40% sold with buyers from the Northeast, Texas, Chicago, and the West Coast. Recently, Alba sold units for the highest price per square foot in the neighborhood at over $2,000 per square foot.

“It’s a monumental day, not only for myself and partners that brought this moment into reality, but also our residents who will call Alba home,” said Kenneth Baboun, principal developer. “Our vision for this rare piece of land and we believe it was the catalyst for the neighborhood’s healthy condo market we see today. We look forward to welcoming our owners home very soon.”

“Alba Palm Beach is truly an example of what a team effort can look like between a developer and the surrounding community,” said Cathleen Ward, District 1 Commissioner. From the start, Alba representatives wanted to make sure the residents knew what was being proposed, and the opportunities this world class development brings to the north end of our City. I’m looking forward to welcoming the new residents which will call this lovely piece of paradise home.”  

Alba’s residences are centered around its coveted waterfront location with every unit featuring graciously appointed layouts with floor-to-ceiling hurricane impact windows and sliding doors, oversized glass-framed terraces with summer kitchens to highlight the incredible panoramic views. There are a limited number of residences per floor, with private elevators and vestibules offering privacy and seclusion. Additional highlights of each residence includes Italian-designed kitchens by Italkraft, stainless steel appliances by SubZero® and Wolf®, and spa-like baths with designer fixtures and finishes.

Alba Palm Beach’s amenities only elevate its waterfront lifestyle for residents; from its day dock with slips available for residents to its sunrise and sunset pool decks and expansive water views from the Technogym® fitness room that includes a yoga studio and Pilates reformer. Spanning more than 25,000 square feet of total amenity space there will also be a state-of-the-art conference space with audio-visual functionality, several private workspaces, a multi-sport simulator room and theater, and an elegant private dining room with climate-controlled wine storage.

As a unique buyer’s gift, Alba Palm Beach owners receive an exclusive one-year complimentary membership to the Palm Beach Yacht Club allowing access to the prestigious club’s dining room and exceptional hospitality along with access to its global reciprocal clubs. Recently, Alba and Magellan Jets announced a partnership that gives owners access to exclusive usage and perks with its fleet of jets.

The development’s sleek and modern design is by West Palm Beach-based Spina O’Rourke + Partners. A free-form ground level with design accents that blend into the landscape welcomes residents, who will enjoy access to an elevated amenity deck, with unobstructed sunrise, sunset, and water views. There are a limited number of residences per floor, with private elevators and vestibules. Schmidt Nichols, an award-winning urban development firm specializing in site development and planning, and landscape architectural planning is the landscape architect for the development. Ortega Construction Company has been selected as the general contractor for the project.

Northwood in West Palm Beach is quickly becoming the city’s most sought-after neighborhood with an eclectic mix of dining, shopping, art galleries and more. This enclave is in proximity to pristine beaches, Worth Avenue, The Square, Atlantic Ocean boating, as well as a host of upscale culinary spots, theatrical performances, and more.

Renderings via Alba Palm Beach

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Demolition Underway At Future Waterfront Site of Olara In West Palm Beach

Demotion has commenced on the future waterfront site of Olara in West Palm Beach, a luxury condominium tower that overlooks the Intracoastal Waterway. Olara is being developed by Savanna, a vertically integrated real estate investment and development firm with offices in New York and West Palm Beach. Set to transform he waterfront of North Flagler at 1919 North Flagler Drive, Olara will deliver premier condominium residences, 80,000 square feet of exclusive amenities.

Demotion has commenced on the future waterfront site of Olara in West Palm Beach, a luxury condominium tower that overlooks the Intracoastal Waterway. Olara is being developed by Savanna, a vertically integrated real estate investment and development firm with offices in New York and West Palm Beach. Set to transform he waterfront of North Flagler at 1919 North Flagler Drive, Olara will deliver premier condominium residences, 80,000 square feet of exclusive amenities including a private marina and world-class culinary experiences, and an unprecedented lifestyle for sophisticated clientele.

The milestone represents the first steps towards the project’s groundbreaking, which is scheduled for this fall. Construction for Olara will be led by SavCon and Gilbane, with completion slated for 2026. Residences are priced from $2 million with sales and marketing efforts exclusively overseen by Douglas Elliman Development Marketing and branding by King & Partners.

“We’re thrilled to reach this exciting milestone and begin the first phase of construction for Olara,” said Peter Rosenthal, Chief Development Officer of Savanna. “The vision for Olara was to re-invent and re-invigorate West Palm Beach. Between acquiring the property and working with our architect, Arquitectonica, on a modern design, the plans have been years in the making, so seeing the project start to come to life is really special.”

Once completed, Olara will rise 26 stories along the Intracoastal Waterway and feature 275 exceptional two- to four-bedroom plus den residences. Designed by Bernardo Fort-Brescia, founding principal of award-winning architecture firm Arquitectonica, the tower is a waterfront residential oasis with a timeless façade, differentiated by its soft curves and glass terraces that reflect the water before it. With interiors by world-renowned design studio Gabellini Sheppard Associates, the residences at Olara were envisioned to be bright, airy, and filled with abundant natural light through the floor-to-ceiling glass windows. They feature elegant European-style kitchens outfitted with honed Volakas marble countertops and a suite of Gaggenau appliances, as well as spa-inspired bathrooms with dual vanities. The neutral, natural color palette informs the finishes selected for the homes, such as the light oak flooring, white matte lacquer cabinetry, and bronze accents.

The lifestyle at Olara will also be enriched through an impressive 80,000 square feet of indoor and outdoor amenity spaces. Among some of the amenities are a private marina, resort-style swimming pool with private cabanas, world-class fitness center and spa designed by The Wright Fit, and 30,000 square feet dedicated to a restaurant and epicurean marketplace.

“As the sister company of Savanna, also expanding in South Florida, SavCon is proud to be working alongside Glibane to build West Palm Beach’s most desirable waterfront destination,” said Eric Desimone, Chief Executive Officer of SavCon. “We truly believe that Olara is going to change the landscape of the area, and we’re honored to have a role in bringing this project to fruition.”

Situated along North Flagler Drive to offer views of the Intracoastal and Palm Beach Island, Olara will provide an expansive four-acre oasis that’s easily accessible to some of the area’s most coveted dining and shopping destinations. Residents are in within minutes of white-sand beaches, Palm Beach Island, and downtown West Palm Beach’s four retail and entertainment districts: Clematis Street, Rosemary Square, Northwood Village and Antique Row, lined with fashionable boutiques and collectibles. Many cultural institutions surround Olara, such as the Norton Museum of Art, the Ann Norton Sculpture Gardens, and the Kravis Center for the Performing Arts, which regularly hosts Broadway shows, nationally acclaimed theater and dance troupes like the Palm Beach Symphony, the Palm Beach Opera, and the Miami City Ballet.

Olara is sponsored by a Savanna affiliate. Savanna is a proven owner, operator, developer, and institutional fund manager with a 30-year track record, it has invested in and developed over 17 million square feet of real estate. Other affiliated parties include the Mactaggart Family Partnership, which has invested in and developed premier real estate projects in the United States and England for over 100 years, as well as Haymes Investment Company and Brandon Rinker, who assisted in the acquisition of six of the eight parcels within the assemblage that became the Olara development site. Haymes and Rinker served as development consultants as the site was assembled and the development vision was finalized. The principals of Haymes Investment Company have owned, operated and developed millions of square feet of commercial, residential and retail real estate in New York, Florida, and around the United States. Brandon Rinker has assembled some of the premier sites in the Palm Beaches. Brandon is now a principal at Savanna.

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Residence At The Bristol In West Palm Beach Trades For Record $21 Million, Double Its 2019 Purchase Price

A residence at The Bristol in West Palm Beach has just closed for $21 million, double what it previously traded for in 2019 and the highest price ever paid for a single unit at the coveted residential building. Per public record, Samantha Curry with Douglas Elliman, who has sold close to $400 million at The Bristol, represented the seller. Steve Hall with Compass represented the buyer.

A residence at The Bristol in West Palm Beach has just closed for $21 million, double what it previously traded for in 2019 and the highest price ever paid for a single unit at the coveted residential building. Per public record, Samantha Curry with Douglas Elliman, who has sold close to $400 million at The Bristol, represented the seller. Steve Hall with Compass represented the buyer.

Unit 1901 is a rare Northeast corner residence designed by Marc Michaels features one of the building’s most sought-after floor plans mimicking a single-family home in the sky with 5,544 interior SF plus a 1,500 wraparound terrace. With chic contemporary design and the finest materials, the 4-BR plus office/ 5.1-BA showcases the most impressive panoramic views of the Ocean, Intracoastal, Palm Beach, and sparkling city lights showcased through 11-ft floor to ceiling glass surrounding the entire residence.

The residence features a stunning one-of-a-kind entertaining bar and a perfectly curated primary bedroom suite with dual bathrooms both with spectacular direct east water views, dolimiti marble, and Italian Fantini fixtures. Both of the spacious dressing rooms consist of custom closets built with the finest materials. The residences also offers a state-of-the art kitchen featuring top of the line Gaggenau appliances, Snaidero Italian cabinetry, and 100-bottle Sub Zero wine refrigerator. Additional highlights include immaculate built-ins, bespoke furnishings, an enhanced Crestron Smart Home technology with automated control of everything from lighting, shades, sheers, music, thermostat, and more.

The Bristol is located at 1100 S Flagler Driveand has succeeded in setting a new standard for ultra-luxury living in West Palm Beach. The tower is renowned for its most impressive 5-star amenities and attention to detail including on-site professional concierge, two spas, beauty salon, waterfront fitness center, 75-ft resort-style swimming pool, club lounge and dog park. Two house vehicles equipped with a driver, gated entrance, and 24-hour valet and front desk.

Images via Shawn Hood Media

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Record Breaking Condo Sale At The Bristol In West Palm Beach Tops $3,364 Per Square Foot

A 3-bedroom condo at The Bristol in West Palm Beach has just traded for $12,025,000, marking a record sale at the iconic condo tower at $3,364 per square foot. Samantha Curry and Daniel Ekerold with Douglas Elliman represented the seller, while Brooke Murphy and Kyle Blackmon of Compass represented the buyer. Located at 1100 S Flagler Drive #1403, the stunning 3 bed + den residence features over 4,200 total square-feet.

A 3-bedroom condo at The Bristol in West Palm Beach has just traded for $12,025,000, marking a record sale at the iconic condo tower at $3,364 per square foot. Samantha Curry and Daniel Ekerold with Douglas Elliman represented the seller, while Brooke Murphy and Kyle Blackmon of Compass represented the buyer.

Located at 1100 S Flagler Drive #1403, the stunning 3 bed + den residence features over 4,200 total square-feet, including 2 spacious terrace and breathtaking direct ocean and intracoastal views from the living room, dining room, master suite, and kitchen with dramatic 11-foot sliders/windows. The master suite features dual master baths and dual dressing rooms. The residence was sold fully furnished with all designer furniture and decor by Artefacto. Other finishes include electronic shades/blackouts, custom closets, speakers, and marble flooring throughout.

The Bristol features world-class amenities including two immaculate spas, waterfront fitness center, stunning beauty salon, spacious outdoor entertaining terrace, club lounge, private dining room, conference room, 75-foot swimming pool, indoor, outdoor jacuzzi, card room and more.

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West Palm Beach Condo Development Alba Palm Beach Locks Down $82 Million Construction Loan

Private real estate lender Trez Capital funded an $82 million loan to build Alba Palm Beach, a luxurious waterfront condominium project that will soon rise in West Palm Beach, Florida. The new development is located directly on the west bank of the Intracoastal Waterway in the emerging Northwood neighborhood.

Private real estate lender Trez Capital funded an $82 million loan to build Alba Palm Beach, a luxurious waterfront condominium project that will soon rise in West Palm Beach, Florida. The new development is located directly on the west bank of the Intracoastal Waterway in the emerging Northwood neighborhood. Alba will rise 22-stories and offers 55 luxury residences and four townhomes. Since launching sales in February 2022, more than 30% of the project has been reserved. Prices start at $2.5 million. With the loan in place, an official groundbreaking is expected this fall with a project delivery in 2025.

Trez Capital Managing Director Ben Jacobson originated the loan on behalf of the lead developer Kenneth Baboun. Jacobson is based in Trez Capital’s Palm Beach, Florida office led by Executive Managing Director, Eastern U.S. Brett Forman. BGI Capital structured the loan.

“Alba Palm Beach fills a glaring need for high-end residential product in a rapidly growing area of West Palm Beach,” said Jacobson. “We are excited to complete our first transaction with a sophisticated developer that will bring luxurious waterfront living to the city’s Northwood neighborhood.”

“We are so pleased to announce the securing of financing for Alba Palm Beach, especially with the great market response and sales success we have seen in such a short time since launching sales,” Baboun said.

“Working with the team from Trez Capital was a transparent and seamless experience and we are thrilled to have accomplished this milestone for Alba Palm Beach,” said Robert Barthelmess, Managing Partner of BGI Capital.

The spacious two-, three-, and four- bedroom residences range in size from 1,745 to 4,500-plus square feet. Each has oversized glass-framed terraces with summer kitchens and panoramic views, floor-to-ceiling hurricane impact glass windows, upscale appliances and designer fixtures.

Amenities include a private dock with boat slips for residents only, two pools, dedicated grill and lounge areas, state-of-the-art fitness studio, private elevators, virtual conference spaces, theater and multi-sport simulator rooms.

Alba Palm Beach is located at 4714 North Flagler Dr., just minutes away from world-class beaches, the famed Worth Avenue shopping district, upscale dining options and cultural activities.

“West Palm Beach has been a focal point of the substantial corporate migration to South Florida over the past few years,” said Forman. “That is creating intense demand for luxury residences in the city. Alba Palm Beach is poised to generate significant activity from both new-to-market and local buyers.”

For more information about Alba Palm Beach, private showings or purchasing/ leasing information please fill out the form below:

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Brightline Completes First Major Construction Zone For Orlando Extension

Brightline has completed its first major construction zone (Zone 2) on its 170-mile extension from West Palm Beach to Orlando International Airport (OIA). One of four zones along this extension, Zone 2 is a 3.5-mile-long section on Brightline’s corridor leading into OIA and represents one of the most complex and challenging areas for construction in the entire project.

Brightline has completed its first major construction zone (Zone 2) on its 170-mile extension from West Palm Beach to Orlando International Airport (OIA). One of four zones along this extension, Zone 2 is a 3.5-mile-long section on Brightline’s corridor leading into OIA and represents one of the most complex and challenging areas for construction in the entire project.

Brightline’s Zone 2 is an engineered double track that travels under active airport taxiways and over tug roads running through the heart of OIA. Brightline’s construction of this zone includes six bridges, two underpasses and several airport improvements, including a new traffic interchange configuration at Cargo Road, located north of the airport, and the airport’s first roundabout designed to assist with traffic flow. Additionally, the steel used throughout Zone 2 and throughout Brightline’s Orlando corridor extension is 100 percent recycled, American-made steel sourced from Fort Wayne, Indiana.

Beginning in 2023, Brightline trains will travel through the airport corridor at 35 miles-per-hour before heading east along SR 528 towards Cocoa where they will reach top speeds of 125 miles-per-hour. Trains traveling along Zone 2 will have access to the airport’s new Intermodal Terminal Facility and the Beachline Expressway/SR 528.

“Our construction through OIA presented one of the most complex construction efforts of this entire project and our successful completion is a testament to partnership, teamwork and out-of-the-box thinking,” said Michael Cegelis, executive vice president, development and construction for Brightline. “The collective efforts of the Greater Orlando Aviation Authority, The Middlesex Corporation and our team resulted in the first ever high-speed rail corridor in one of the busiest airports in the nation.”

“The completion of Zone 2 is a major milestone for the Brightline construction and engineering team as we continue to work towards the completion of the corridor to Orlando from West Palm Beach,” said Donald Jello, project manager at Brightline.

Brightline completed additional infrastructure on the project to accommodate future transportation options through the airport including embankment, bridge foundations at the tug roads, and a shared underpass at Cargo Rd. The project was constructed in partnership with The Greater Orlando Aviation Authority (GOAA).

The Orlando extension is 70 percent complete and employs more than 1,300 daily construction workers and is scheduled to be finished by the end of 2022. The Middlesex Corporation, based in Orlando, served as general contractor, and constructed the corridor over 33 months through the work of over 100 employees who logged more than 419,000 hours.

Subcontractors on the project included Delta Railroad Construction, Inc. of Ashtabula, Ohio, HWR (a joint venture of Herzog and Railworks) of Melbourne, Florida, Sterling Enterprises, L.L.C. of Lake Helen, Florida, Transportation Systems Inc. of Orlando, Florida, G&C Welding Specialists of Sanford, Florida, Keller of Orlando, Florida, and Tierra, Inc. of Winter Garden, Florida. The track was constructed with American made recycled steel from Steel Dynamics North America Inc., in Ft. Wayne, Indiana and concrete ties manufactured by Rocla in its purpose-built plant in Ft. Pierce, FL. With Zone 2 now complete, Wabtec of Jacksonville, Florida will install Positive Train Control (PTC) under contract with Brightline.

In January of 2022, Brightline began daily crew training and qualifying test runs between West Palm Beach and Cocoa as part of its extension to Orlando. Over an eight-year period, Brightline’s corridor between Miami and Orlando will result in $6.4 billion in economic impact while creating more than 10,000 jobs. Brightline currently serves Miami, Fort Lauderdale, and West Palm Beach, with its expansion stations in Aventura and Boca Raton opening in fall of 2022.

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BGI Companies Launches Sales at Alba Palm Beach

BGI Companies has officially launched sales at Alba Palm Beach, a new waterfront residential condominium development located directly on the Intracoastal Waterway. The development is a collection of 55 luxury residences spread throughout a 22-story tower, plus four two- and three-story townhomes.

BGI Companies has officially launched sales at Alba Palm Beach, a new waterfront residential condominium development located directly on the Intracoastal Waterway. The development is a collection of 55 luxury residences spread throughout a 22-story tower, plus four two- and three-story townhomes. Residents will enjoy a variety of desirable amenities including an entire 25,500-square-foot, sixth-floor amenity level with sunrise and sunset swimming pools, as well as on-site private docks with boat slips exclusively for owners.

In pre-sales, the development received a strong response with more than 30% of the building reserved. Introductory pricing starting from $2.5 million with sales led by Douglas Elliman Development Marketing.

“As our first foray into residential development in the Palm Beaches, we are excited to officially launch sales with a more accessible luxury product in the Northwood area as the neighborhood continues to thrive and grow,” said Kenneth Baboun, principal developer. “With a sought-after location, Alba Palm Beach will introduce a limited-edition waterfront lifestyle that celebrates high-quality workmanship, elevated amenities, and effortless coastal living – all of which are in demand yet hard to come by in today’s market.”

“West Palm Beach has experienced a material transformation and growth in the last few years. The influx of buyers and capital in the area seeking a luxury destination coupled with offering of high caliber products in West Palm Beach has presented tremendous opportunity,” said Jay Phillip Parker, CEO of Douglas Elliman’s Florida Region and President of Douglas Elliman Development Marketing. “With Alba Palm Beach, we are setting a new standard in the neighborhood, offering a waterfront lifestyle with Intracoastal access that cannot be replicated. Our team is proud to present buyers with a development that offers an exceptional value at a premier address.”

Alba Palm Beach is located at 4714 North Flagler Drive in West Palm Beach, Florida, directly on the Intracoastal Waterway. The development’s sleek and modern design is by West Palm Beach-based Spina O’Rourke + Partners. A free-form ground level with design accents that blend into the landscape welcomes residents, who will enjoy access to an elevated amenity deck, with unobstructed sunrise, sunset, and water views. The development houses a collection of 55 two- to three-bedroom residences, and 4-bedroom townhomes with direct waterfront views. There are a limited number of residences per floor, with private elevators and vestibules offering privacy and seclusion.

Alba Palm Beach is situated on 1.71-acres with direct Intracoastal frontage, and a private dock with boat slips reserved for residents only. The tower’s entire sixth floor is dedicated to amenities, including a sunrise pool overlooking the Intracoastal, a sunset pool for the warm afternoon sun, as well as dedicated grill and lounge areas. The on-property state-of-the-art fitness studio includes cardio, resistance training, and yoga. There will also be virtual conference spaces, theater, and multi-sport simulator rooms. The development also offers a covered Porte Cochere entry, valet parking, and access to covered parking with electric vehicle charging stations.

Every residence features spacious layouts with oversized glass-framed terraces with summer kitchens and panoramic views. Floor-to-ceiling hurricane impact windows and sliding doors are installed on all terraces. Additional highlights include Italian-designed kitchens by Italkraft, stainless steel appliances by SubZero® and Wolf®, spa-like baths with designer fixtures and finishes and wiring for high-speed data, media connectivity and smart-home technology. The limited collection of four townhome residences each have their own unique two- or three-story designs.

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Morgan Properties Acquires 3 Multifamily Communities In West Palm Beach For $132.5 Million

The Pennsylvania-based Morgan Properties has acquired three apartment communities in West Palm Beach totaling 622 units. Berkadia International Solutions’ Berkadia Miami completed the $132.5 million sale on behalf of the seller, Massachusetts-based Northland Investment Corporation.

The Pennsylvania-based Morgan Properties has acquired three apartment communities in West Palm Beach totaling 622 units. Berkadia International Solutions’ Senior Managing Director Jaret Turkell along with Senior Managing Director Roberto Pesant, Associate Omar Morales and Senior Analyst Jose Mota of Berkadia Miami completed the $132.5 million sale on behalf of the seller, Massachusetts-based Northland Investment Corporation. The properties which traded include Windward at the Villages, The Royal St. George and Village Place. The deal was financed with a bridge loan secured by Director TJ Piper of Berkadia Philadelphia.

“An unprecedented wave of corporate relocations to West Palm Beach in the last year, combined with a shortage of rental housing in Palm Beach County, has produced a very tight apartment market with strong rent growth drivers,” said Turkell. “As a result, investor appetite for well-located multifamily assets has been extremely strong and is projected to remain that way for the foreseeable future.”

Windward at the Villages is located at 1441 Brandywine Road. The 196-unit property features one- and two-bedroom floor plans with air conditioning, a private balcony and in-unit washers and dryers. Community amenities include a swimming pool, a fitness center, a tennis court and a playground.

The Royal St. George is a 224-unit property located at 1651 Brandywine Road. The property features one-, two- and three-bedroom floor plans with air conditioning, in-unit washers and dryers, walk-in closets and a private patio or balcony. Community amenities include a swimming pool, a fitness center, a picnic area and a dog park.

Village Place is located at 2111 Brandywine Road. The 202-unit property features one-, two- and three-bedroom floor plans with air conditioning, in-unit washers and dryers, walk-in closets and a private patio or balcony. Community amenities include a swimming pool, a hot tub, a fitness center and a picnic area.

The properties afford residents convenient access to Palm Beach International Airport, the Palm Beach Outlets, Interstate 95 and West Palm Beach.

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Affiliated Development Closes On $53 Million Loan And Begins Construction On West Palm Beach Workforce Housing Project

Fort Lauderdale-based Affiliated Development has started construction on the highly anticipated mixed-income workforce housing project, The Grand. The Grand was capitalized by a $53 million first mortgage from Bank United and an investment from Affiliated Housing Impact Fund, LP and a private family office.

Fort Lauderdale-based Affiliated Development has started construction on the highly anticipated mixed-income workforce housing project, The Grand, after closing on financing. The Grand was capitalized by a $53 million first mortgage from Bank United and an investment from Affiliated Housing Impact Fund, LP and a private family office.

Located in downtown West Palm Beach between 2nd and 3rd Street along Rosemary Avenue, The Grand is walking distance to the city’s newest office complexes, shopping, dining, and entertainment venues, as well as the Brightline and Tri-Rail stations. Fit with luxury finishes, features and amenities, the 8-story building will offer 301 one and two-bedroom apartments and 9 three-bedroom townhomes with ground floor commercial space.

The Grand is being constructed by Moss & Associates and was designed by MSA Architecture. Expected completion is slated for Spring 2023.

The Grand celebrates a successful collaboration between public and private entities to address both redevelopment and housing. In December 2019, the West Palm Beach CRA and city’s Housing & Community Development department awarded the developer $15 million in various funding incentives to bridge the funding cap and help finance the project.

“Our goal is to work with our city and CRA partners to create a transformative project that ignites redevelopment activities within the CRA target area and increases the quality of life for the city’s residents,” says Jeff Burns, Co-Founder and CEO of Affiliated Development. “West Palm Beach’s leadership and staff have been amazing to work with, and we are excited to play a role in this city’s evolution.”

The project will offer downtown class-A living and rents the average resident can afford. As part of the city and CRA funding incentives, the developer agreed to restrict 2/3 of the units at various income levels starting at 80% of AMI.

“Affiliated Development’s $81 million investment into the city’s historic Northwest community represents the single largest private investment in this neighborhood’s history and will deliver much needed workforce housing for our city’s residents,” said West Palm Beach Mayor Keith A. James. “This project supports the city’s efforts to build stronger neighborhoods and to provide better connections for residents between their home and their job.”

The project supports Mayor Keith James’ “500 in 3” initiative, an effort to create 500 workforce and/or affordable housing units in West Palm Beach within three years.

West Palm Beach is experiencing a wave of new residents and economic development as the city is quickly becoming a prime financial center for firms relocating from New York and other U.S. markets.

“Recent job growth has exacerbated the housing need,” explains Nick Rojo, Co-Founder and President of Affiliated Development. “As a longtime resident, it’s especially meaningful for me to help deliver such an impactful and transformative project to the city.”

In December 2020, Affiliated Development announced the successful closing of their $125 million housing impact fund to capitalize the company’s projects and tackle the region’s workforce housing crisis, largely comprised of local public pension plans. Affiliated Development has found a niche in public-private-partnership development and have over one-thousand workforce units in the pipeline throughout South Florida.

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Tour A Record Breaking West Palm Beach Waterfront Estate Which Just Sold For $15.057 Million

Steve Bendat of Aquantis Group Development has once again broken the record for most expensive single family home sale in West Palm Beach after his project at 6717 S Flagler Dr closed for $15.057 million, just over two years after he first broke the record with his project at 2914 Washington Road which sold in May 2019 for $11.5 million.

Steve Bendat of Aquantis Group has once again broken the record for most expensive single family home sale in West Palm Beach after his project at 6717 S Flagler Dr closed for $15.057 million. The record breaking sale comes just over two years after Bendat first broke the record with his project at 2914 Washington Road, which sold in May 2019 for $11.5 million. 6717 S Flagler Dr was listed in May 2020 as the most expensive home in West Palm Beach to ever hit the market, priced at $17,750,000 with Burt Minkoff of Douglas Elliman. The price was reduced to $16,750,000 and went into contract within 30 days of the reduction. Chris Leavitt of Douglas Elliman represented the buyer in the transaction which closed on July 8, 2021.

Designed by developer Steve Bendat and architect David Lawrence, 6717 S Flagler Dr is an estate compound that maximizes the tropical nature of South Florida, overlooking the spectacular Intracoastal with views of the ocean. The home has the feature to run completely on solar power energy with electrical service tied to a solar panels that are capable of net zero metering.

6717 S Flagler Dr spans 15,000 SF spread over three-stories. The home features an interior “floating” glass staircase, an outdoor stainless-steel circular staircase, an all-glass indoor elevator with back-lit onyx surround, a commercial exterior elevator, six bedrooms, nine bathrooms, and two powder rooms. There is also a theater room, a dedicated gym, a private guest house, a home office, and a four-car air-conditioned garage.

Other features include the finest finishes such as custom hidden base and door surrounds with a Reglet system throughout, 10 foot solid core doors with Tactus hidden hinges, walnut and lacquer cabinetry, backlit Illuminated stone wine cellar and glass elevator shaft, polished steel, walnut and glass floating staircase, LED ceiling cove lights, even a glass fronted spa overlooking the Intracoastal.

Outdoors features lush landscaping with a pool with jacuzzi, multiple patios over each floor, and a rooftop deck complete with a summer kitchen. The home also features a coveted private dock across S Ocean Blvd. on the Intracoastal Waterway.

The property is uniquely designed to be Hurricane resistant, built with extra-large footers, reinforced steel, poured concrete floors, and concrete-filled block, making the home virtually indestructible and soundproof. The home is also pre-wired with fiber optic cable capable of transmitting 8K video to every room and patio. There’s also a whole house 70Kw generator at the ready in case of emergency. All recessed lighting is the highest end Tech Lighting Element fixtures.

Images via Douglas Elliman

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