It has been a great 2015 in the Palm Beach County in terms of real estate. Many plans were created during the previous real estate boom, but was sidelined due to the recent recession.
Palm Beach County have several of its projects started immediately right after the economic turmoil. Some noteworthy projects are the Palm Beach County Convention Center hotel, which is almost complete and will be opening its doors with the next few weeks. The Hilton West Palm Beach, right beside the convention center, will definitely bring in additional conferences in the area. It may also boost the demand for more retail office space, Palm Beach Post reported.
The Palm Beach County Convention center originally opened up back in 2004, but it is only now that the area is starting to really develop and attract all sorts of businesses. Another area being developed in the area is the City Place. Ken Himmel, President and CEO of Related Urban Development, recently revealed plans of adding eateries to the area. Many consider this as an additional way to boost the convention center hotel.
Palm Beach County investors have been eyeing several properties on the south side of Okeechobee Boulevard for several years now. It was in 2015 that the area have started to gain attention. Charles Cohen, the New York real estate developer and film admirer, recently took hold of Carefree Theatre for $3 million and is planning to develop it into a mixed-use center that will house a theater to and will be featuring Cohen Media Group’s timeless collection of films, Palm Beach Daily News reported.
Another Palm Beach County big project is the construction of a $200 million Prospect Place, formerly Sears and Winn-Dixie shopping centers that sits on a 9.4-acre piece of property. The said area will be converted into a five 15-story luxury condos that will include retail stores and a one-acre park.
