Developers hope to move forward with the Evergreen Townhomes, a multi-million-dollar residential development. Right now, the venture’s still in its infancy. However, when completed, it’ll offer 40 units across seven two-story buildings.
BGI Companies has closed on an $82 million construction loan from Trez Capital, a private real estate lender helping to build better communities across North America. The loan was arranged by BGI Capital for the construction of Alba Palm Beach, a new 22-story waterfront residential condominium development in collaboration with Blue Road Group located at 4714 North Flagler Drive, directly facing the Intracoastal Waterway in the emerging and growing Northwood neighborhood of West Palm Beach. The development is designed by Spina O’Rourke + Partners with Schmidt Nichols as the landscape architect, and is comprised of a collection of 55 luxury condominiums and 4 two- and three-story townhomes. The development has received a strong response with more than 30 percent of the building reserved since launching sales in February 2022.
Palm Beach-based real estate investment firm Frisbie Group and global real estate development firm Hines have officially unveiled South Flagler House, a two-towered 27-story residential development planned to rise at 1315 and 1401 South Flagler Drive in West Palm Beach, Florida. Designed by Robert A.M. Stern Architects (RAMSA), it will be the globally renowned architecture firm’s first luxury residential high-rise in Florida; global design firm Stantec will serve as the architect of record. One of the country’s top agents, Suzanne Frisbie, along with Corcoran Sunshine Marketing Group will exclusively lead sales and marketing. Sales are expected to launch later this year.
Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA, has acquired a brand new property in downtown West Palm Beach that will be transformed into an upscale, hotel residence catering to the city’s rapidly growing corporate and leisure travel community. EAHG purchased the newly built, 6-story building located at 695 South Olive Avenue for $84 million from developer Transwestern Development Company. It is conveniently located within walking distance of historic Clematis Street, the Brightline West Palm Beach train station, numerous restaurants and night clubs, Palm Beach Atlantic University, several premier Class A office towers including Esperante Corporate Center and the new One Flagler, and just one block from the Intracoastal Waterway, leading to the serene and exclusive Palm Beach.
Having worked in the region for many years, leading global architecture firm Arquitectonica has announced the opening of their office in Rosemary Square. Located at 477 South Rosemary Avenue in Downtown West Palm Beach, the office provides close accessibility to the firm’s ongoing projects in design and under construction. This work has served to reinforce their commitment to growing a presence in the region and establishing the new location helps support the firm’s capabilities in Florida that also includes projects in Orlando, Tampa and Jacksonville.
