by Brian Bandell
Senior Reporter, South Florida Business Journal
Driving past South Florida’s major urban centers, it might seem that developers are infatuated with Miami, hot on downtown Fort Lauderdale, and ignoring West Palm Beach.
That’s no longer the case.
It’s true that downtown West Palm Beach doesn’t have the forest of construction cranes its southern neighbors do. The recent real estate boom has been slow to reach the city, even though strong leasing of its office and apartment buildings has made available space a rare commodity.
Now developers, including some billion-dollar backers, have taken notice of the city. The Business Journal found 25 major projects proposed or under construction in downtown West Palm Beach and its neighboring areas along North Flagler Drive and South Dixie Highway. Of those, 20 are downtown. Still, only four have broken ground, which begs the question: Have developers proposed more projects than the market can absorb?
via South Florida Business Journal
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