Thousands of residential units are in the development pipeline in West Palm Beach, following a rush of post-pandemic investment in the coastal city.
While many of those projects are luxury condominiums years out from completion, others are rental buildings beginning to open their doors. In this lease roundup, Related Companies, Tortoise Properties, Hyperion Group and Parkland Companies have kicked off leasing for more than 1,100 units in West Palm Beach, with prices starting at $1,800 per month.
635 Hibiscus Street | The Laurel | Related Companies
Related Companies launched leasing for its 21-story, 322-unit luxury apartment building the Laurel at 635 Hibiscus Street in March. Floor plans include one-bedroom, two-bedroom and three-bedroom options, and rents start at $3,300 per month. Amenities in the building include a pool, fitness center, billiards room, pet spa, private dining room, sculpture garden and children’s playroom.
740 and 840 North Dixie Highway | Tortoise One West Palm Beach | Tortoise Properties
Tortoise Properties, led by president and CEO Jake Geleerd, launched leasing for its two-building apartment complex Tortoise One at 740 and 840 North Dixie Highway in May, a spokesperson confirmed. The complex includes two eight-story buildings totalling 264 units. Floor plan options include studio, one-bedroom and two-bedroom options. Studio and one-bedroom apartment rents start at $2,675 per month and two-bedroom rents start at $3,865. The buildings have 21,000 square feet of amenities, including pickleball courts, a fitness center, pools, a pet spa and private workspaces, a press release shows.
Tortoise landed a $88.5 million construction loan for the project in 2022.
201 Clearwater Drive | Lumaire | Hyperion Group, Starwood Capital Group, Winter Properties
In August, Hyperion Group kicked off leasing for its 23-story, 457-unit apartment tower Lumaire at 201 Clearwater Drive, according to a press release. Led by Principal and CEO Robert Vecsler, Hyperion partnered with Barry Sternlicht’s Starwood Capital Group and Winter Properties a $96.4 million construction loan for the project in 2022.
Lumaire’s floor plans range from studios to three-bedrooms, and rents start at $1,800 per month for the tower. The building’s amenities include a pool, bocce lawn, fitness center, coworking lounge, pickleball court, pet lounge and salon, and a catering kitchenette.
2121 Broward Avenue | Park West | Parkland Companies
Developer Neil Kozokoff’s Parkland Companies kicked off leasing for its Park West at 2121 Broward Avenue in February, a spokesperson confirmed. The four-story, 102-unit building has studio, one-bedroom and two-bedroom apartments. Studios range in price from $1,850 to $2,150, one-bedrooms from $2,050 to $2,500, and two-bedrooms from $2,750 to $3,600, the spokesperson said. Park West is 82 percent leased, they confirmed. The building has a pool, fitness center, coffee bar and a coworking space.
