Concord Wilshire Capital has closed on the $60 million acquisition of a 43-acre development site at the intersection of State Road 7 and Southern Boulevard in Royal Palm Beach, advancing plans for the rebranding and redevelopment of the property formerly known as Tuttle Royale. The site, which has also been identified in trade coverage as 10629 Acme Road, is planned for a large-scale mixed-use village with 401 multifamily residences, approximately 426,764 square feet of retail space, a 125-key hotel, and an approximately 82,875-square-foot office building.
The acquisition was announced on April 16 and marks Concord Wilshire’s next step in reviving the long-planned site in western Palm Beach County. According to the company, the development is being positioned as a mixed-use destination centered on residential, retail, and public gathering space within one of Royal Palm Beach’s major growth corridors. Trade reports also noted that the purchase followed bankruptcy proceedings involving the prior ownership entity tied to the stalled Tuttle Royale development.
Plans for the master-planned development include 401 multifamily residences, approximately 426,764 square feet of essential and service-oriented retail space, a 125-key lifestyle hotel, and an approximately 82,875-square-foot office building. The proposal also includes an activated park plaza with public spaces, a sculpture garden, and experiential amenities. Additional outdoor components described by the developer include amphitheater-capable gathering areas, a canal-front linear park, a pedestrian-oriented retail promenade with water features, and rooftop amenity space with resort-style programming.
“This closing represents a defining milestone for Concord Wilshire and marks the transition of this project from vision to execution,” said Nate Sirang, President of Concord Wilshire.
“We are now fully engaged in delivering a thoughtfully designed, mixed-use community that will create a true sense of place, generate meaningful economic activity, and serve as a long-term asset for Royal Palm Beach and the broader region,” said Bromley Kelly, Managing Director of Construction of Concord Wilshire.
Concord Wilshire said site activation and initial mobilization activities are expected to begin following the receipt of required permits. The company also stated that it is in discussions with multifamily developers, retail operators, and other strategic partners as it advances the next phase of the project.
“The scale, location, and design of this project present a unique opportunity for premier partners to participate in a landmark development within Palm Beach County,” added Kelly. “We look forward to aligning with groups that share our commitment to quality, execution, and long-term value creation.”
The property is part of the broader Tuttle Royale master plan in Royal Palm Beach, a long-envisioned mixed-use development at the corner of U.S. 441 and Southern Boulevard. Public records tied to the earlier master plan show the larger project area extending well beyond the 43-acre parcel acquired by Concord Wilshire.
“This project reflects the strength of public-private collaboration and the City’s long-term vision for responsible growth,” said Jennifer Vail, Director of Engineering and Planning of Concord Wilshire. “We are proud to help bring forward a development that will elevate the character of the community while delivering lasting economic and social benefits.”
Concord Wilshire said additional details are expected in the coming months, including the formal rebranding of the development and the announcement of key residential and retail partners.
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