The Real Deal Miami

Flagler Drive demolition now uncertain

October 14, 2009 10:18AM

After a lengthy process to determine whether a 30-story West Palm Beach condominium tower could be torn down without violating federal asbestos standards, the demolition may still be far off. The last obstacle to the implosion of the 1515 S. Flagler Drive building, badly damaged in the 2005 hurricane season, is for Trinity Development Group to take out $50 million worth of insurance, after which the demolition could take place as early as Sunday. Trinity, which wants to replace the tower with a $150 million condo called the Modern, has enough insurance for a conventional wrecking ball demolition, but the company balked at the $300,000 price tag for the increased insurance that the city is requiring. [Palm Beach Post]