The developers of West Palm Beach’s Nora District are seeking a boost in public funding for infrastructure improvements to $26.1 million.
NDT Development and its partners requested $5.3 million as part of West Palm Beach’s Real Estate Development Accelerator program, public planning documents show.
The additional funds would pay for the completion of a right-of-way between 10th and 11th streets along Railroad Avenue, planning documents show. The city’s Community Redevelopment Agency is set to consider the request at its April 13 meeting. The funding, if approved, would be tied to the completion of the under-construction Nora Hotel and would be disbursed after Oct. 1.
NDT, led by founders Ned Grace and Damien Barr, were previously approved for $20.8 million in REDA funding. The firm declined to comment.
It is active in real estate development and hospitality in Palm Beach County, and its portfolio includes boutique Palm Beach hotel the White Elephant, the restaurant Cucina in Palm Beach and the private Cove Club in West Palm Beach.
Nora District is a master-planned section of downtown West Palm Beach spanning 40 acres. The development includes retail, restaurants and offices, the first phase of which opened late last year.
Hospitality mogul Richard Born’s BD Hotels, known for its Bowery Hotel, Hotel Chelsea and the Greenwich Hotel in New York, has partnered with NDT and Sean MacPherson on the 201-key Nora Hotel, which is set to open later this year.
Last month, Anthony Solomon’s Ronto Group, along with NDT Development, Place Projects and Wheelock Street Capital, launched sales for the planned 11-story, 117-unit Nora House condos. Prices range from $2 million to $6.5 million, and construction is expected to finish in 2029.
Nora’s developers are also planning an 11-story, 350-unit apartment building between 10th and 11th streets that is set to include 18,300 square feet of ground floor retail and 65,000 square feet of amenities.