BETWEEN MANHATTAN, MIAMI, AND NOW WEST PALM BEACH, THIS DEVELOPER IS MAKING MOVES.
As the principal developer behind Alba Palm Beach (albapalmbbeach.com) and the managing partner of BGI Companies, Kenneth Baboun talks to us about his passion for West Palm Beach and why he is blazing a trail as the first to develop luxury residences in the Northwood neighborhood.
What’s the most important thing to know about real estate in Palm Beach County right now?
Palm Beach’s growth is rapidly expanding beyond its urban core and legacy neighborhoods that are worth investing in now. Enclaves like Northwood, just north of downtown, are seeing significant investment from developers from luxury residences to dining, shopping and entertainment–shaping it into an extension of downtown West Palm Beach.
What is the biggest change in buyer preferences lately?
Downsizing with the caveat of still having amenity spaces that feel private and luxurious. Alba’s Lower Penthouse and Townhome models are in high demand with buyers who are downsizing because they still get ample indoor and outdoor living space with exclusive amenities without managing the grounds of a larger home.
What is a key tech feature in your latest project?
Tech is woven through every touchpoint at Alba from arrival at our EV charging stations to complete customization of shades, music and lighting in each unit at the touch of a button, but I am most excited about the HD multi-purpose sports simulator room that brings 64 different sports to life in one space.
What are must-have features in a luxury home now?
Living in Florida, I have to say waterfront access is the most valuable feature a luxury home can have. Buyers want everything the quintessential Florida lifestyle can offer, from water views to boat docks and a place to drop in a kayak.
What is the next big thing in luxury real estate?
Partnerships that extend amenities beyond the walls of luxury residential buildings. Beyond the spa and gym, how can we elevate wellness amenities for our residents? Beyond an on-site dock, how can we foster a boating lifestyle? For example, at Alba we’ve partnered with Mount Sinai Health System’s newly opened Concierge Medicine Practice to offer buyers boutique healthcare and given a one-year Palm Beach Yacht Club membership to elevate the Florida lifestyle.
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