The Real Deal Miami

Renovation for WPB’s Comeau Building

May 04, 2011 10:04AM

The historic Comeau Building on Clematis Street in West Palm Beach will
be getting a facelift, with a joint venture putting in $2 million in
initial capital and tenant improvements to fix up the 10-story building.
The Comeau Building, which is located at 319 Clematis Street and was
built in 1925, had a busy year, with a failed $50 million plan to
convert the building into a hotel and a foreclosure action against the
site. The makeover will include upgraded technology and a new look for
the arcade. “It’s a classic building and a piece of Palm Beach County
history,” said Brian Waxman, co-founder and managing director of AW
Property, which is part of the joint venture with Five Mile Capital
Partners, which owned the building’s debt until it took title in the
foreclosure auction. [Palm
Beach Post]