Greene is planning a pair of 350-foot-tall towers on a vacant 4.5-acre lot at 2175 N. Flagler Drive, across from the waterfront Currie Park. The buildings would house 152 condos connected by a two-story podium with 5K SF of commercial space and 1,500 SF of office.
Units at the development would range from 2,800 SF to 10,800 SF, with some condos including private terrace pools, the South Florida Business Journal reported. There would be condos ranging from two to five bedrooms along with five penthouses.
“These are mansions in the sky,” Greene told the SFBJ.
The towers were designed by Pritzker Prize-winning Swiss architect Herzog & de Meuron with local input from Spina O'Rourke + Partners and Brian Terry of Palm Beach Gardens-based Insite Studio.
Greene first proposed condos on the site in 2019, before West Palm Beach approved a plan in 2021 to redevelop the vacant park and create the Currie Mixed Use District that increased maximum building heights in the area to 350 feet.
The plans to revamp Currie Park include adding a marina, waterfront dining and public pools, along with updates to the boat launch, tennis courts and parking lot.
Greene’s latest proposal would be the second project to break ground in the last four years on his sizable West Palm Beach land holdings, which total around 26 acres around the Intracoastal Waterway. Entities controlled by Greene paid $20M for the condo site in 2015, property records indicate.
His mixed-use One West Palm, consisting of a pair of 30-story towers, is nearing completion a mile south in downtown West Palm Beach. The project broke ground in 2019 and is slated to deliver next year with 200K SF of office space, 326 residences and a 201-key hotel.
Plans for his newest condo towers come as West Palm Beach has seen a surge of luxury development driven by a wave of migration that was spurred by the pandemic. Palm Beach County attracted 13,000 new residents and $7.2B of income inflow in 2022. It was the second-highest flow of money to Florida behind Miami-Dade County, which has 1.2 million more residents but attracted just $200M more in wealth.
Miami-based Terra announced plans in October for the Mr. C Hotel & Residences, which will include 146 branded residences and 110 hotel rooms at 320 Lakeview Ave. Construction is set to begin next year on the Arquitectonica-designed project.
New York-based Related Cos. in August announced its first luxury condo project in Florida on a 3-acre site it acquired in August for $195M. The development includes two 28-story towers and 108 residences on a waterfront site at 1355 S. Flagler Drive.
Related has also embarked on an extensive redevelopment of the city’s downtown, growing its office portfolio in the city to 1.3M SF with plans to add another 2.5M SF.
Miami-based developers Blue Road and BGI Cos. last month secured a $95M construction loan for Alba Palm Beach, a 22-story condo tower at 4714 N. Flagler Drive with 55 units that is expected to deliver in 2025. The loan followed $82M in financing that the developers secured last April.
Savanna, a developer from New York, also landed a $55M loan from Madison Realty Capital in March to build Olara at 1919 N. Flagler Drive. The pair of 26-story condo towers with 275 units is slated for delivery in 2026.