The Real Deal Miami

Palm House project falters

August 05, 2008 12:03PM

A three-week work stoppage on the luxurious Palm House hotel, planned for 160 Royal Palm Way in Palm Beach, won’t affect the overall health of the project, its contractor says. The boutique hotel, going up on the site of the Heart of Palm Beach hotel, will start operations by spring 2009, says Joe Jory, executive vice president of operations for contractor Echelon Construction. He dismissed reports that owner Robert V. Matthews, of Palm Beach and Nantucket, Mass., might be having trouble with lenders. The developer put $40 million of his own money into the project, which was approved by the town as both hotel and condominiums priced from $1.25 million to more than $3 million.