New downtown hotel may rise in West Palm Beach

Developer William Jacobson still gathering financing for the $40 million hotel project

TRD MIAMI /
Jan.January 10, 2016 10:00 AM

Rendering of planned hotel in downtown West Palm Beach

A Renaissance hotel could rise on a site in downtown West Palm Beach where a condo project failed during the economic recession of the late 2000s.

The hotel project developer is William Jacobson, who was one of the investors in the failed condo project at 302 Datura Street in West Palm Beach.

Jacobson told the Sun-Sentinel he plans to build an eight-story, 166-room hotel on the downtown site: “I think there’s a very strong market in downtown even though there are other new hotels opening up.”

The hotel is located near City Hall in West Palm Beach and near the city’s Clematis Street entertainment district. The hotel’s location is also near  a train station is under construction for the planned Brightline passenger rail services, formerly known as All Aboard Florida.

Jacobson, a West Palm Beach attorney, also told the Sun-Sentinel that he is in discussions with potential lenders and equity partners who would fund the $40 million hotel development, and he expects to finalize financing within the next 90 days.

Demolition of a vacant three-story building on the site would precede an 18-month hotel construction schedule.

Jacobson told the Sun-Sentinel that he hopes to operate the hotel under the Renaissance flag, a Marriott International brand catering mainly to business travelers: “We are negotiating with Marriott and hope to choose a flag pretty soon.” [Sun-Sentinel]Mike Seemuth  


Related Articles

arrow_forward_ios
Daily Digest Miami

Quiksilver signs a lease in Miami Beach, Delray Beach’s Atlantic Crossing announces first retail and office tenants: Daily digest

The Bristol and Thomas J. Healey

Financial mogul pays $6.5 million for unit at the Bristol in West Palm

2751 South Dixie Highway, Scott Sherman and Ben Mandell

Tricera reveals plans for redevelopment of Palm Beach Post building

Cavalier and Henrosa hotels with Susan Gale of One Sotheby’s International Realty

Two South Beach hotels hit the market for $42M

A rendering of Arlo Wynwood

Quadrum Global plans Arlo hotel in Wynwood

Daily Digest Miami

The trade war could hurt the industrial real estate boom, Hurricane Dorian’s impact on Florida’s hotels: Daily digest

James Harpel and The Bristol in West Palm Beach

South Florida developer pays $8M for condo at the Bristol

Alexandra Lalos and Max Comess

Hodges Ward Elliott to open Miami office with former HFF brokers

arrow_forward_ios