Owner may replace West Palm office center with apartments

Time Equities may redevelop the Prospect Place office center in West Palm Beach as a low-rise apartment complex

Miami /
Jan.January 20, 2018 01:50 PM

Rendering of apartment complex that would replace the Prospect Place office center at 3111 South Dixie Highway in West Palm Beach (Credit: Palm Beach Post)

The owner of an office center in West Palm Beach plans to convert the property to a low-rise apartment complex. Time Equities plans to build six buildings with 300 apartments on the site of Prospect Place, the company’s office center at 3111 South Dixie Highway in West Palm Beach. The planned apartments would be spread across three three-story buildings and three five-story buildings. The apartment buildings would have a combined total of 17,000 square feet of ground-floor retail space.

In 2015, Time Equities planned to build five 15-story condominium buildings on the site of Prospect Place. But the planned condo development drew opposition, and Time Equities halted work on the project last year before West Palm Beach city commissioners could consider whether to approve or reject it. If the city approves the low-rise apartment development that Time Equities is planning, the two-year construction phase of the project could start by late 2018. [West Palm Beach] – Mike Seemuth


Related Articles

arrow_forward_ios
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
Pantzer's Jason and Jordan Pantzer with The District Flats apartment complex at 1701 Clare Avenue (Pantzer Properties, Google Maps)
Pantzer pays $78M for West Palm Beach apartment complex
Pantzer pays $78M for West Palm Beach apartment complex
From left: a rendering of the project at 201 Clearwater Drive in West Palm Beach, Starwood Capital CEO Barry Sternlicht, Hyperion Group CEO Rob Vecsler and Winter Properties co-CEO David Winter (Getty, Hyperion, Winter Properties)
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
Starwood, Hyperion and Winter Properties score $96M construction loan for West Palm mixed-use project
BGI Companies' Kenneth Baboun, a rendering of Alba Palm Beach and Trez Capital's Ben Jacobson 
BGI scores $82M construction loan for luxury condo project in West Palm Beach
BGI scores $82M construction loan for luxury condo project in West Palm Beach
Jorge Pérez vs Stephen and Louise Kornfeld with a rendering of Icon Marina Village (Related Group, Getty, Wikipedia)
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
Related Group allegedly jilted investors in waterfront West Palm resi project: lawsuit
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
 Hines' Jeffrey Hines and Robert A.M. Stern with West Palm Beach ( The Boundary with Noë & Associates, iStock)
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Hines, Frisbie launch two-tower luxury condo development in West Palm Beach
Current Capital Management’s Todd Nepola and the shopping centers at 2845 North Military Trail in West Palm Beach and 6651 Lake Worth Road in Lake Worth (Todd Nepola)
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
Todd Nepola buys a pair of Palm Beach County shopping centers for $13M
arrow_forward_ios

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

Loading...