Great Gulf wins rezoning for second West Palm Beach condo project

Canadian developer Great Gulf won a rezoning for its latest condo project in West Palm Beach.

The West Palm Beach City Commission voted unanimously to grant the firm its requested rezoning and waivers for its planned 31-story, 97-unit condo project at 5400 North Flagler Drive. Toronto-based Great Gulf bought the 3-acre waterfront property for $28.5 million last year, after completing its 25-story, 83-unit La Clara tower in 2023.

Its latest planned condo, 5400 North Flagler, is slated to replace the Poinsettia Apartments, a two-building multifamily complex spanning three stories and 72 units built in 1966. The property at 5400 North Flagler will include a pool and the developer is considering adding a dock with between four and eight slips, according to the plans presented.

The design team includes Moshe Safdie’s Safdie Architects, West Palm Beach-based Spina O’Rourke + Partners, Toronto-based interiors firm Studio Munge, and landscape firm Enea, which is based in Rapperswil-Jona, Switzerland.

Great Gulf was founded in 1975 by Harry Rosenbaum, Elly Reisman, Norm Reisman, Larry Robbins and Seymour Joffe, according to reports. It has built more than 80,000 homes across North America, and currently has more than 9,000 units planned or under construction, according to its website. Neil Vohrah is its president of high-rise residential, and is overseeing the 5400 North Flagler project.

It marks Great Gulf’s second project in the coastal city. It sold out La Clara at 200 Arkona Court for more than $209 million.

Buyers included American Express heiress Stephanie Currey Ingram, Marvel Studios executive Louis D’Esposito, and Jonathan Lerner, whose D.C.-based developer family owns the Washington Nationals. Spec developer Todd Glaser and his partner Jim Randall bought the penthouse unit for $18.8 million, with the intention to flip it for $28.5 million, but the unit has since been pulled from the market.

La Clara’s owners filed a lawsuit against Great Gulf in February, alleging the building had construction defects and lacked the luxury finishes buyers were promised.

Its 5400 North Flagler joins a stacked pipeline of planned condominiums in West Palm Beach, where more than 2,000 units are in development. Also in the North Flagler Drive corridor are Related Group and BH Group’s planned 21-story, 39-unit Apogee tower and BGI Capital and Blue Road’s 22-story, 55-unit Alba Palm Beach, which is nearing completion.

Residential

South Florida

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