There’s no question that waterfront property continues to drive the South Florida real estate market. Unfortunately, waterfront land is scarce, which makes it that much more valuable, and desirable. Despite the economic slump, North Palm Beach real estate developers continue to produce new condominiums in Florida, and redevelop the older ones.
This coming Thursday, North Palm Beach will be voting on the development of the Water Club, “twin” 19 story condos, designed by the Kolter Group. These condos would overlook the Intracoastal, and even the Atlantic Ocean in some of the higher residencies. The site location for the Water Club condos sits on 7 acres, on east side of Highway US 1, between PGA Blvd. and the Parker Bridge. According to the Palm Beach Post, “Water Club will bring more property taxes. It will create construction jobs and revenue to local businesses. It’s a win-win for the village.”
Each North Palm Beach Water Club condominium is expected to be 2000-3000 square feet, considerably larger than many traditional closet style condos. The overall projected development cost for this community may reach $100 million. Each condo unit will be priced to sell for $600,000 to $1,000,000. Keep in mind there are only going to be 74 condos for sale, total. If you are interested in this project, and would like to know more information, please contact KangaRealty with your questions.
Condos comparable to Water Club would include: Marina Tower, Lake Point Tower, Old Port Cove East and Old Port Cove West.