By Emon Reiser – Digital Producer, South Florida Business Journal
Developers and West Palm Beach officials on Thursday held a groundbreaking ceremony for a mixed-use project being constructed at the former site of its city hall.
Flagler Banyan Square was announced as the official name for the $145 million waterfront redevelopment, which will include 251 apartments, retail, restaurants, office space, a parking garage, a public park and an observation deck. A 208-room Marriott Autograph Collection hotel that’s also part of the project started construction earlier this month.
“This coveted waterfront site is an important piece of the overall strategic vision for downtown West Palm Beach,” said Jon Ward, executive director of the West Palm Beach Community Redevelopment Agency (CRA). “The new development expands our core downtown zone past Clematis Street, provides lots of facilities and amenities for visitors close to Brightline and major waterfront events, and offers more live, work and play spaces for our residents.”
The project at 200 2nd St. is expected to be completed by the end of 2019. It’s on the former site of West Palm Beach City Hall and will overlook the stretch of land where the Palm Beach International Boat Show sets up each year. The city sold the 3.5-acre property for $11.5 million to Navarro Lowrey, who flipped the hotel portion to Concord Hospitality for $4 million and the mixed-use portion to West Palm FCH Apartments LLC for $9 million.
Flagler Banyan Square is among a number of projects launching in West Palm Beach. Its CRA is also working on upgrading the 300 block of Clematis Street with wider sidewalks, more trees and added dining and seating areas; improving the back alleys between the heavily trafficked streets of Clematis and Datura; and adding a 14,000-square-foot space at 314 Clematis split into 12 spots that will serve as an incubator for new or local retail shops.
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