An affiliate of The Breakers Palm Beach scooped up 2.4 acres along Australian Avenue in West Palm Beach where the hotel owners are planning a workforce housing project reserved for its employees.
The iconic oceanfront resort’s owner paid a combined $9.1 million for the assemblage at 2410–2508 North Australian Avenue, records and real estate database Vizzda show. The Breakers, led by Paul Leone, acquired one portion from the City of West Palm Beach for $660,000 and a larger parcel from West Palm Beach-based VDG Partners Limited for $8.5 million.
The Breakers affiliate also owns an adjacent property at 2600 North Australian Avenue, purchased in late 2024 for $2.3 million. The hotel is combining the sites to make way for an eight-story apartment complex with 155 units that will house employees of The Breakers, according to documents filed with the city. The West Palm Beach City Commission approved the development last year.
The project marks one of the first large-scale employer-backed housing developments in Palm Beach County — a response to rising local housing costs that have priced out many hospitality and service workers.
Residents will be required to work for The Breakers, and the units will primarily serve the resort’s seasonal and temporary staff, published reports state.
Founded in 1896 by rail magnate Henry Flagler, The Breakers remains under the control of Flagler’s descendants through Flagler Systems, owned by the heirs of Mary Lily Kenan Flagler, his third wife. With more than 2,400 employees, the hotel is one of Palm Beach County’s largest employers and relies heavily on foreign labor. Last year, it received approval to hire 249 H-2B visa workers, published reports state. The Breakers has also been expanding its real estate portfolio beyond workforce housing. In December 2024, it bought the former Palm Beach Post Office from billionaire Jeff Greene for $28 million, signaling the family-owned resort’s deeper investment in the West Palm Beach market.