Developers are reshaping the skyline of West Palm Beach with more than a dozen condominium projects totaling over 2,000 units, according to an analysis by The Real Deal. Four of these projects have secured construction loans amounting to nearly $1.4 billion, and several developments that began sales early in the decade are now nearing completion.
The city’s new condo activity is no longer limited to its core. At least nine projects are planned for neighborhoods north of Flagler Memorial Bridge. Gary Pohrer, an agent with Serhant., noted, “They are testing the North Flagler market,” and described the area as “unproven,” despite attractions like the Nora District.
Prominent developers such as Steve Ross, Jeff Greene, David Martin, and Jorge Pérez have invested heavily in West Palm Beach. However, market observers say that while there is interest from buyers, sales are progressing at a slower pace compared to 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, founder 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 the current condo developments in progress, only seven have launched sales so far; just three confirmed their presale figures for this story. Baboun reported that Alba Palm Beach is more than 60 percent presold after securing a $95 million construction loan from Kriss Capital in 2023. The project is expected to finish construction by spring 2026.
Mr. C Residences West Palm Beach—developed by Terra and Sympatico Real Estate—is 70 percent presold following a recent $285 million construction loan from Tyko Capital. Related Group and BH Group’s Ritz-Carlton Residences project is close to 50 percent presold and plans to start construction in early 2026.
“We were not expecting sales in July and August,” yet demand remained steady through summer months according to Chris Leavitt from Douglas Elliman’s marketing team for Ritz-Carlton Residences.
Some developers are less optimistic about rapid absorption rates. Jeff Greene explained his decision to delay launching his Herzog & de Meuron-designed towers: “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 attributed this slower pace partly to high interest rates and unfamiliarity among local buyers with pre-construction purchasing: “West Palm Beach has never been a pre-buy market,” he said.
Baboun observed changing buyer expectations: “They want new, and they want now.”
Several key developments mark this surge:
– South Flagler House by Related Ross landed a $600 million construction loan in June—the largest condo loan this year in Florida—and is nearly half presold.
– Shorecrest (Related Ross) underwent two redesigns since launching sales last year; it will feature 100 units with prices ranging from $2.7 million to $7 million.
– Ritz-Carlton Residences (Related Group/BH Group) has reached almost half its presales goal; construction begins next year.
– Apogee (Related Group/BH Group), still awaiting city approval for sales launch.
– Alba Palm Beach (BGI Capital/Blue Road) expects completion by early 2026 with over 60 percent of units already sold.
– Olara (Savanna) received a $380 million loan but has seen slower-than-hoped-for sales performance.
– The Berkeley (Al Adelson/Sympatico Real Estate) broke ground last December; completion set for 2027.
– Mr. C Hotel & Residences West Palm Beach reports strong pre-sales momentum with most condos reserved ahead of its scheduled completion date.
– Projects like those planned by Jeff Greene or Perko Development/Kolter Urban remain on hold until further absorption occurs or await official launches.
– Other major initiatives include Great Gulf’s upcoming tower on North Flagler Drive after completing La Clara last year; Huizenga Holdings/Integra Investments’ proposed four-tower development at Rybovich Marina; and NDT Development’s Nora District condominium effort set within broader mixed-use plans opening later this year.
These developments reflect both optimism about West Palm Beach’s growth prospects as well as caution amid evolving buyer preferences and economic factors influencing real estate decisions across South Florida.
