Florida YIMBY has learned of an evolving mixed-use venture in Palm Beach County.
Terra and BH Group are moving forward with two 31-story towers, requiring close to 440,000 square feet of new construction. Plans currently call for 281 condos that would measure 1,065 to 4,510 square feet; the average home would span 1,762 square feet.
Amenities would be located on the third and ninth floors, with offerings including a pool deck. One tower would host rooftop amenity space, while the other would have a top-floor penthouse. In addition to the residences, there would be 4,385 square feet of retail and 362 parking spots.
The two developers currently have the project’s 1.55-acre build site under contact from its current owner, 2111 Flagler LLC. Our sources estimate that the land deal is currently valued at about $100 million.
South Florida-based Terra has a few evolving projects in its pipeline. One of those projects is a 330-foot waterfront tower in Miami Beach. The venture is slated to feature 106 luxury condos that average 3,500 square feet each. Terra is developing the project in partnership with RG Development Group and GV Development.
The 31-story towers are planned for 2085 N Flagler Dr, West Palm Beach, FL, 33407, in Palm Beach County.
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