Developer Al Adelson and the Morrison family’s Sympatico Real Estate propose a 25-story condo project overlooking Clear Lake in West Palm Beach.
Adelson, who developed The Bristol condo, and father-son real estate duo Carlos Morrison and Thomas Morrison want to build the 191-unit tower on 2 acres at 601 and 621 Clearwater Park Road, according Adelson and an application filed to West Palm Beach last month. The project would include 2,700 square feet of ground-floor commercial space and a six-level garage with 402 spaces.
The Morrisons, through affiliates, assembled the development site for $13.8 million, combined, in 2021 and 2022, records show. The properties consist of a two-story, 15,000-square-foot office building; and a three-story, 21,000-square-foot office building that used to be an American Cancer Society branch.
Since then, Adelson purchased an ownership stake in the site, he told The Real Deal. Toronto-based Windsor Private Capital is also partnering on the project.
Lake Worth Beach-based Sympatico has been ramping up its development in West Palm. In downtown West Palm, Sympatico and David Martin’s Terra plan a 25-story Mr. C Hotel & Residences at 320 Lakeview Avenue. The project, which would mark the city’s first Cipriani-branded development, would have 110 hotel keys and 146 branded condos. Owners will be able to rent out the condos through the hotel operator.
Adelson completed The Bristol, a 25-story, 69-unit luxury waterfront condo project at 1100 South Flagler Drive in West Palm Beach in 2019.
Downtown West Palm has experienced a construction boom in recent years due to the influx of out-of-state residents and businesses since late 2020. But more recently, development has been creeping outside of downtown and into surrounding city neighborhoods.
Place Projects and NDT Development plan the Nora District, a 40-acre area between Palm Beach Lakes Boulevard and Quadrille Boulevard, and between Dixie Highway and the FEC Railway tracks.
For the first phase, the developers and Wheelock Street Capital plan to retrofit warehouses along North Railroad Avenue into 25 retail and restaurant ground-floor spaces, as well as 55,000 square feet of second-floor offices. In subsequent phases, Place Projects and NDT want to build out vacant lots north and south of Nora, including with a 175-key hotel. The developers will preserve homes in the center of the district.