West Palm Point developer says construction financing is in place
Cohen Brothers Realty describes the office development as a $400 million project and forecasts delivery in early 2029.
Key Takeaways
- •Cohen Brothers says Cooper Horowitz arranged full construction financing.
- •The developer describes $400 million as the project budget and did not disclose the loan amount.
- •The 438,000-square-foot office tower is forecast for delivery in the first quarter of 2029.
Cohen Brothers Realty says it has secured full construction financing for West Palm Point, a planned 23-story office tower in downtown West Palm Beach that the developer describes as a $400 million project.
Cooper Horowitz arranged the financing, developer Charles S. Cohen announced Oct. 29. The company’s announcement did not identify the lender or disclose the loan amount or terms. The $400 million figure is the stated project budget, not an announced loan balance.
Cohen Brothers forecasts delivery in the first quarter of 2029. The proposed tower would contain 438,000 square feet and occupy a downtown city block, according to the developer.
Pelli Clarke & Partners designed the project, with Nichols Architects serving as architect of record. Coastal Construction is overseeing construction, the announcement said.
The plans also call for ground-floor retail, a 30-foot lobby and a separate 10-story parking structure with about 1,200 spaces. The developer says the project is targeting LEED Gold and Fitwel certifications; those are targets rather than certifications already awarded.
A one-acre landscaped rooftop area is planned with a café, dog park, putting green and performance space. The building is also intended to include a fitness center and conference facilities.
West Palm Point is located near the Palm Beach County Convention Center, the Kravis Center for the Performing Arts and CityPlace, according to the developer. Those nearby destinations place the planned office project within a downtown district that also serves visitors and convention activity.
The announcement names CBRE’s John K. Criddle and Joseph Freitas and Cohen Brothers’ Marc Horowitz as executive leasing agents. It does not state how much office space is leased or identify signed tenants.
The developer also identifies EDSA as landscape architect and AREA Architects as interior architect. The project team includes structural engineer Bliss & Nyitray and civil and geotechnical engineer Langan.
