The Real Deal Miami

Work resumes at PB’s Palm House

August 23, 2010 09:45AM

The Palm House hotel

Workers have returned to the site of the Palm House hotel, a renovation
of the former Heart of Palm Beach Hotel at 160 Royal Palm Way. The
downturn had made the property dormant, but now, after being scooped up
by local investor Glenn Straub, construction has started again. The
hotel was first purchased by investor Bob
Matthews
, but was plagued by financial problems and delays since
work began in 2007. Last fall, work stopped on the project. Staub, who
owns the Palm Beach Polo Golf & Country Club, bought the property
for $10 million at a foreclosure auction. Matthews said he had spent $40
million of his own money on the project. [Palm
Beach Daily News]