Two Roads & Alpha Blue Secure $121.5M Loan For Forte Luxury Condo in West Palm Beach

Forté. Designed by Arquitectonica.

Two Roads Development and Alpha Blue Ventures have landed a $121.5 million construction loan for the development of Forté, a 24-story waterfront luxury condominium tower anticipated to rise at 1309 South Flagler Drive in West Palm Beach. Designed by Bernardo Fort-Brescia of Arquitectonica, with interiors  by Jean-Louis Deniot, the project is planned to yield 41 expansive luxury residences; sales have done exceptionally well with nearly 60% sold prior to commencing construction. Units will come in three-and four-bedroom floor plans ranging from 4,200 to 8,400 square feet, and a six-bedroom penthouse spanning 8,900 square feet, priced from $6.7 million to $30 million.

The development site is comprised of 3 interior lots owned by Flagler Residential LLC, an entity linked to Two Roads Development, located on South Flagler Drive parallel to the western frontage of the Intracoastal Waterway and bordered by Currie Crescent on the west.

Forté. Designed by Arquitectonica.

Side Profile. Forté. Designed by Arquitectonica.

“Closing this loan with Bank OZK is a significant milestone for our team and the broader West Palm Beach residential market,” said James Harpel, Chairman and Senior Partner of Two Roads Development. “Forté’s waterfront location, combined with Bernardo Fort-Brescia’s sophisticated design and the equity we’ve built through strong pre-construction sales, have created a powerful combination that puts us in the position to secure favorable financing.”

Arrival at Forté. Designed by Arquitectonica. Landscaping by EDSA, Inc.

“Bank OZK is delighted to finance the construction of Forté on Flagler. This project embodies the high standards Bank OZK consistently seeks in its project financings – marquee real estate, strong market fundamentals and top-tier sponsorship. We appreciate the opportunity to serve as the sole senior secured lender and look forward to future opportunities to work with Two Roads Development,” stated Greg Newman, Managing Director of Originations for Bank OZK’s Real Estate Specialties Group.

Forté. Designed by Arquitectonica.

“We are very proud to have Bank OZK join the Forte project,” said Scott Maslin, Founding Partner and Managing Member of Alpha Blue Ventures. “Bank OZK has certainly established themselves as a leader in the South Florida market, and having them on board is a testament to the quality of our product as well as the significance of this exciting waterfront development.”

Lobby at Forté. Interiors by Jean-Louis Deniot.

Great Room at Forté. Interiors by Jean-Louis Deniot.

Library at Forté. Interiors by Jean-Louis Deniot.

Living Room at Forté. Interiors by Jean-Louis Deniot.

Master Bedroom at Forté. Interiors by Jean-Louis Deniot.

Master Bathroom at Forté. Interiors by Jean-Louis Deniot.

Kitchen at Forté. Interiors by Jean-Louis Deniot.

Pool View at Forté. Designed by Arquitectonica. Landscaping by EDSA, Inc.

Each floor will contain two units, with the option to combine residences for a full-floor home. All residences will include private elevator foyers, at least 1,000 square feet of outdoor living space, no less than 10-foot-high ceilings, as well as Jean Louis-Deniot and Italkraft® custom-designed kitchen and bathroom cabinetry with top-of-the-line finishes, fixtures and appliances from Sub-Zero®, Wolf® and Waterworks®. The six-bedroom penthouse spans features an additional 2,000-square-foot private rooftop deck which includes a pool, summer kitchen, cabana bath and unmatched 360-degree views. 

Building amenities include an impressive second-story pool deck overlooking Palm Beach, complete with a 75′ lap pool, heated spa, and an outdoor dining and lounge area. A health and wellness center will be located on the third floor equipped with a steam room, sauna, private treatment rooms, a relaxation area and locker facilities, further complemented by a state-of-the-art fitness center and yoga studio. Additional amenities include a private dining room with seating for up to 24 guests, a great room, a theater, an evening lounge, a card room and a multi-sport simulator. Two fully furnished guest suites are also available to create privacy for family and friends, while a business center offers all the office essentials residents might need for working remotely.

Construction is expected to begin this month, with a completion date set for 2024.

Subscribe to YIMBY’s daily e-mail

Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews


Be the first to comment on "Two Roads & Alpha Blue Secure $121.5M Loan For Forte Luxury Condo in West Palm Beach"

Leave a comment

Your email address will not be published.