The Real Deal Miami

All Aboard Florida shows plans for West Palm residential tower

Units would be in “moderate” price range
A rendering of the proposed All Aboard residential tower in West Palm Beach (Credit: Palm Beach Post)

A rendering of the proposed All Aboard residential tower in West Palm Beach (Credit: Palm Beach Post)

During an open house on Tuesday for West Palm Beach residents, All Aboard Florida reportedly revealed its plans for a 23-story apartment tower to accompany its train station.

The tower would have 275 rental units, ground-floor retail space and a parking garage with 800 spots. Its unit range in size from studios to two-bedroom, two-bathroom residences, all priced moderately.

The building’s amenities include a pool, yoga area, fitness center and an outdoor living area — all on the garage’s rooftop.

An All Aboard representative at the open house said the company hopes to finish the tower halfway through 2017, the Palm Beach Post reported.

The newspaper reported that city commissioners approved a deal granting All Aboard the right to develop a tower on the land, which abuts its planned rail station in downtown West Palm Beach.

The deal stipulated that All Aboard, which wants to build a road to the bustling Clematis Street, would pay $3.8 million for two parcels to construct the route. In return, the city would give All Aboard $3.8 million in tax credits and incentives, plus an additional $2.5 million in tax credits for the residential tower.

All Aboard would then forfeit the land and road to the city, after the project is complete.

The project will go before local and state approval boards in the coming months. [Palm Beach Post] — Sean Stewart-Muniz