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Commercial
South Florida

Developer buys West Palm Beach site, plans $145M mixed-use project

Navarro Lowrey paid $11.5M for the 3.5-acre property

Rendering of the project
Rendering of the project

A West Palm Beach developer can now move forward with its plans to turn the city’s former city hall site into a $145 million mixed-use development.

Navarro Lowrey Inc. paid $11.5 million for the 3.5-acre property at Banyan Boulevard and Second Street. The deal closed on Wednesday, two years after the city first solicited buyers for the property, according to the Palm Beach Post.

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Navarro Lowrey plans to build a waterfront 208-room Marriott Autograph Collection hotel, 251 apartments, 20,000 square feet of retail space, a waterfront restaurant with indoor and outdoor dining, a nearly 500-space parking garage, a public park and elevated observation deck.

The city’s community redevelopment agency paid to demolish the former city hall building last year. Construction is expected to begin this year and to be completed by 2019. [Palm Beach Post] – Katherine Kallergis

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Commercial Real EstateWest Palm Beach