Frisbie Group plows ahead on renovation plan for Palm Beach’s “Main Street”

Miami /
May.May 12, 2017 04:30 PM

The Frisbie Group in Palm Beach is moving forward with its plan to re-do a group of fading buildings and empty space on Royal Poinciana Way, frequently referred to as the town’s Main Street.

Palm Beach approved Frisbie’s development plan last year, after five years of negotiations, and the group held a town-mandated meeting Thursday with neighbors of the project — both business and residential. 

So all that’s left now is finalizing a construction management agreement with town officials, so that demolition and building permits can be issued, Robert Frisbie, managing member of Frisbie Group told The Real Deal. That involves determining hours of construction and plans for traffic mitigation. “We’re getting close to having that finalized,” Frisbie said. He hopes construction will begin this summer and finish three-and-a-half years later.

The project consists of six new two-story buildings, replacing the current defunct gas station, asphalt lots, Testa’s restaurant building at 221 Royal Poinciana Way and several accompanying structures that are in a state of decay.

Local real estate billionaire Jeff Greene held a note on the Testa’s building that was assumed and then paid off by the Frisbie Group when it bought the property for $10.25 million last year.

The buildings will be connected through a group of vias, gardens and courtyards. Each building will have luxury retail on the ground floor and 7,000-square foot luxury condos on the top floor, according to Frisbie’s plan.

The site will have an underground parking garage with 86 spaces, including private parking areas for each of the residences. Private elevators open directly into residential units. Each residence includes a ground-level private garden and a furnished loggia on the second level.

“These will be some of the largest condominium residences on the island, and will be perfect for those who want a simpler, highly-amenitized lifestyle without compromising functionality or privacy,” Frisbie said.

The retail will include an upscale restaurant and shops that will appeal to the condo residents and others, he said. The restaurant will feature outdoor dining, and shop doors will be capable of opening to the outside. “It’s going to be the kind of indoor-outdoor setting that you see in European cities,” Frisbie said.

Local architect Rick Gonzalez, who worked on the area 10 years ago, is impressed with what Frisbie Group is doing. “It’s a very nice plan, exactly the revitalization that Royal Poinciana Way needs,” he said. “None of the buildings were historical, and they had deteriorated.”

Gonzalez’s only complaint about the project: “It’s a little boring: everything is the same color in the renderings.” But that’s no big deal, he said. “It can easily be fixed. This is a great improvement for the Main Street of Palm Beach.” 


Related Articles

arrow_forward_ios
1201 Brickell Bay Drive, Citadel's Ken Griffin and 830 Brickell office tower in Miami (Google Maps, OKO Group and Cain International, Illustration by Priyanka Modi for The Real Deal with Getty)
Mapping out Ken Griffin’s Miami shopping spree
Mapping out Ken Griffin’s Miami shopping spree
Todd and Kim Glaser with 125 Via Del Lago in Palm Beach (Google Maps, Illustration by Priyanka Modi for The Real Deal with Getty)
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Seller’s remorse? Developer Todd Glaser buys back Palm Beach mansion for $23M
Frist Cressey Ventures Bryan Cressey with the property at 2315 S Ocean Blvd. in Palm Beach (Zillow, FCVentures, Illustration by Priyanka Modi for The Real Deal with Getty)
Venture capitalist sells oceanfront Palm Beach compound for $49M
Venture capitalist sells oceanfront Palm Beach compound for $49M
Citadel’s Ken Griffin and the former Neiman Marcus building at 151 Worth Avenue in Palm Beach (Citadel, Google Maps)
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Ken Griffin’s South Florida state of mind: Citadel to open Palm Beach office
Rush and Kathryn Adams Limbaugh along with 1495 North Ocean Boulevard in Palm Beach (Getty Images, Zillow, iStock)
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Rush Limbaugh’s oceanfront Palm Beach estate marketed for sale, asking up to $175M
Ken Griffin, CEO of Citadel LLC, along with a rendering of his planned oceanfront estate in Palm Beach (Getty Images, Citadel LLC, iStock)
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Here’s the oceanfront estate Ken Griffin plans to build for his mom in Palm Beach
Lawrence Moens has represented many of Palm Beach's biggest-ticket buyers, including (L-R) : Larry Ellison, Steve Wynn, Ken Griffin and Donald Trump
Meet the mystery go-to agent for Palm Beach billionaires
Meet the mystery go-to agent for Palm Beach billionaires
A photo illustration of 2000 South Ocean Boulevard in Manalapan (bottom), 901 North Ocean Boulevard in Palm Beach (top left), and 102 Jungle Road in Palm Beach (top right) (Brown Harris Stevens, LoopNet, Realtor.com, iStock)
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
Skyrocketing prices: Top 10 Palm Beach County sales so far this year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...