Waterfront Condo Will Break Ground in West Palm Beach After Developers Obtain Construction Loan

Written By: Brian Bandell
Photography Courtesy Of: Arquitectonica, Renderings by Arx Solutions
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The Forté condo will break ground along the Intracoastal Waterway in West Palm Beach in December after the developers obtained a $121.5 million construction loan.

West Palm Beach-based Two Roads Development and New York-based Alpha Blue Ventures received the loan from Little Rock, Arkansas-based Bank OZK. It covers the 1.38-acre site at 1311 S. Flagler Drive.

The developers said the 41 condos of Forté are 60% pre-sold.

Bernardo Fort-Brescia of Miami-based Arquitectonica designed the 24-story tower.

“Closing this loan with Bank OZK is a significant milestone for our team and the broader West Palm Beach residential market,” said James Harpel, chairman and senior partner of Two Roads Development. “Forté’s waterfront location, combined with Bernardo Fort-Brescia’s sophisticated design and the equity we’ve built through strong pre-construction sales, have created a powerful combination that puts us in the position to secure favorable financing.”

Most units in Forté range from 4,200 to 8,400 square feet and there’s an option to combine neighboring condos in a full-floor home. There’s also an 8,900-square-foot penthouse with a 2,000-square-foot roof deck with a pool and summer kitchen.

The condos are priced from $6.7 million to more than $30 million.

The luxury condo market in West Palm Beach was firmly established by Bristol Palm Beach several years ago, which had record-breaking sales for the city. That project demonstrated that wealthy people will pay top-line prices for condos along the Intracoastal Waterway within a short drive of the island of Palm Beach, where the condo buildings are decades older. With large units and many amenities, Forté is targeting a similar market.

“We are very proud to have Bank OZK join the Forte project,” said Scott Maslin, founder and managing member of Alpha Blue Ventures. “Bank OZK has certainly established themselves as a leader in the South Florida market and having them on board is a testament to the quality of our product as well as the significance of this exciting waterfront development.”

Amenities in the condo will include a second-floor pool deck, a heated spa, a fitness center, a steam room, a sauna, private treatment rooms, a yoga studio, a private dining room, a great room, a theater, an evening lounge, a card room, and a multi-sport simulator. There are also two guest suites for visitors.

Fort Lauderdale-based Moss is the general contractor. The condo is expected to be completed in 2024.

The developers acquired the property for $10.85 million in 2017.