More than a dozen condominium projects, totaling over 2,000 units, are in development across West Palm Beach as the city undergoes significant changes to its skyline. This information comes from an analysis by The Real Deal.
Construction financing for four of these projects has reached nearly $1.4 billion. Some developments that started sales earlier have now completed or are nearing completion. For example, Two Roads Development and Alpha Blue Ventures began closings this summer for their Forté on Flagler tower at 1309 South Flagler Drive after achieving more than $289 million in presales.
Condominium development is no longer limited to the city’s core; at least nine new projects are planned north of Flagler Memorial Bridge. “They are testing the North Flagler market,” said Gary Pohrer, an agent with Serhant. He highlighted the Nora District as a draw but described the area as “unproven.”
Developers such as Steve Ross, Jeff Greene, David Martin, and Jorge Pérez have invested billions into West Palm Beach’s future. However, market activity shows that while there is interest from buyers, sales have not matched the rapid pace seen in Miami. “It’s not the Miami pace that you sell half a building in one year, it’s a more patient market,” said Kenneth Baboun of BGI Companies and developer of Alba Palm Beach. “We don’t have the investor market that Miami has, we have an end user market.”
Of all current condo developments, only seven have launched sales so far; three confirmed their presale numbers for this report. Baboun reported that Alba Palm Beach is over 60 percent presold and expects construction to finish by spring 2026 after securing a $95 million loan from Kriss Capital last year.
Mr. C Residences West Palm Beach—a project by Terra and Sympatico Real Estate—has reached 70 percent presold status following a recent $285 million construction loan from Tyko Capital.
The Ritz-Carlton Residences by Related Group and BH Group is close to 50 percent presold with construction scheduled to begin early next year. Chris Leavitt of Douglas Elliman noted ongoing buyer interest: “We were not expecting sales in July and August,” yet activity remained steady.
Sources say Related Ross’ South Flagler House is also near 50 percent presold but declined to provide exact figures.
Olara by New York firm Savanna has achieved about 50 percent presales according to sources—a result some brokers find disappointing given expectations for higher numbers at this stage. Erin Sykes of Sykes Properties commented: “You would expect to have better sales or sales further down the road at this point in Olara.”
Some projects faced setbacks due to redesigns or other issues. Baboun cited Related Ross’ Shorecrest as an example: initial enthusiasm waned after multiple design changes became the focus rather than progress on the project itself.
Jeff Greene indicated he is waiting before launching his Herzog & de Meuron-designed towers until more existing inventory sells: “If Olara was at 75 percent, and South Flagler was 80 percent sold, of course we would just do whatever it takes [to launch],” he said. “We’re not in any hurry. I don’t think there’s enough buyers right now.” Greene attributes slow sales partly to high interest rates and notes pre-development condo purchases are relatively new for local buyers.
Baboun observed that many buyers want immediate occupancy rather than waiting years for construction completion: “They want new, and they want now.”
A detailed look at individual developments reveals:
– South Flagler House (Related Ross) secured a $600 million loan—the largest single condo loan in Florida this year—and plans two towers with prices starting at $7.9 million.
– Shorecrest (Related Ross) underwent two redesigns since launching sales last year; current plans call for a 28-story building with units priced between $2.7 million and $7 million.
– Ritz-Carlton Residences (Related Group/BH Group) received approval last October; construction begins next year on its waterfront tower designed by Arquitectonica.
– Apogee (Related Group/BH Group), a planned 21-story tower approved this year; sales not yet launched.
– Alba Palm Beach (BGI Capital/Blue Road) nears completion with over half its units sold.
– Olara (Savanna) started construction last year on two towers totaling 275 condos plus apartments.
– The Berkeley (Al Adelson/Sympatico Real Estate) broke ground late last year; expected completion in 2027.
– Mr. C Hotel & Residences West Palm Beach (Terra/Sympatico Real Estate) secured funding recently with most units already sold ahead of projected completion in three years.
– Jeff Greene’s twin towers remain unlaunched as he monitors overall absorption rates.
– Flagler House (Perko Development/Kolter Urban), approved earlier this year with plans for waterfront residences opposite Mar-a-Lago Club.
– Great Gulf plans another tower after completing La Clara last year; zoning was approved recently but sales haven’t begun.
– Rybovich Marina redevelopment proposes four towers totaling up to 660 condos within a broader transformation effort along North Flagler Drive—sales expected later this decade.
– In Nora District, NDT Development partners plan an additional condominium within their mixed-use project set to break ground next year.
These projects collectively represent both optimism among developers about West Palm Beach’s long-term prospects and caution amid evolving buyer preferences and economic factors such as interest rates.
