Christian school cashes in on waterfront lot, and those 'big white boxes' rankle neighbors

Kimberly Miller, Palm Beach Post
·3 min read
1
Olara Residences, a residential complex proposed by Savanna Fund for North Flagler Drive in West Palm Beach.
Olara Residences, a residential complex proposed by Savanna Fund for North Flagler Drive in West Palm Beach.

Welcome to The Dirt! I’m real estate reporter Kimberly Miller with the latest developments in the sizzling market.

You may catch a rewritten press release on those other real estate sites but not in The Palm Beach Post where veteran scoop-getter Alexandra Clough has more sources than there are Birkin bags at Ta-boo on a Friday night.

Last week, she was on top of the story about Savanna Fund wanting to build a massive complex on the Lake Worth Lagoon in West Palm Beach. It's funny how the lagoon, also known as the Intracoastal Waterway, has gone from a struggling waterbody slimed by nutrient-laden runoff to a draw for high-end real estate. But anyhoo, I'm sure it will all work out.

You want 300-foot towers in West Palm Beach? Olara is here for you

East view across North Flagler Drive between Pine Street and Butler Street in West Palm Beach, Fla., on Tuesday, July 12, 2022.
East view across North Flagler Drive between Pine Street and Butler Street in West Palm Beach, Fla., on Tuesday, July 12, 2022.

As previously mentioned the Savanna Fund has some lofty goals for the waterfront north of downtown, and reporter Alexandra Clough goes further than just the blingy specs.

No, she digs into the goings-on at the nearby waterfront Temple Israel, which is negotiating to sell its property to a real estate developer.

And speaking of religious organizations cashing in big on their waterfront

South Flagler House, an ultra-luxury condominium planned for the West Palm Beach waterfront.
South Flagler House, an ultra-luxury condominium planned for the West Palm Beach waterfront.

Palm Beach Atlantic University in downtown West Palm Beach got a whopping $41.5 million for two old dorms, again, on the Lake Worth Lagoon. I described the buildings as mangy, but maybe I should have said historic. What about shabby chic?

Although a federal lawsuit is still percolating around the construction of the South Flagler House, the sale means the project is still lurching forward.

Neighbors have some choice words for new homes in coveted SoSo community

A home being built on Alhambra Place in West Palm Beach dwarfs the home next door built in 1954.
A home being built on Alhambra Place in West Palm Beach dwarfs the home next door built in 1954.

It's no secret West Palm Beach is changing as more folks flocked to the Sunshine State during the pandemic. Nowhere is that more noticeable today than in some of the old neighborhoods that are, again, along the Lake Worth Lagoon. (Is there a trend here?)

Because they're not historically-designated, developers can come in and run roughshod with designs that max out lots with houses that tower over existing homes. One of them — dubbed a mausoleum by one neighbor — is on the road made famous in John Grogan's Marley & Me memoir and movie.

Designs held in check in Palm Beach by architectural review board

The Palm Beach Architectural Commission has finally approved the design of a house for a vacant oceanfront lot at 7 Ocean Lane on the North End of town.
The Palm Beach Architectural Commission has finally approved the design of a house for a vacant oceanfront lot at 7 Ocean Lane on the North End of town.

Unlike West Palm Beach's loosey-goosey approach in some communities, the Town of Palm Beach is quite finicky about what gets built. Home designs have to go before the celebrated and maligned Architectural Commission, which has more power than the president and is more feared than the drive-thru line at Chik-fil-A during lunch hour.

One beachfront mansion wrangled with the commission for a year before getting approved. See the accepted design in luxury real estate reporter Darrell Hofheinz's story.

A condo with a beachfront balcony as big as my house sells for $9.02 million

In the center of the building, the 800-square-foot balcony of a Palm Beach double penthouse, No. PH D-E, in the 400 Building at 400 S. Ocean Blvd. offers unimpeded views of Midtown Beach. The sixth-floor apartment just sold for a recorded $9.02 million.
In the center of the building, the 800-square-foot balcony of a Palm Beach double penthouse, No. PH D-E, in the 400 Building at 400 S. Ocean Blvd. offers unimpeded views of Midtown Beach. The sixth-floor apartment just sold for a recorded $9.02 million.

I like to describe my 980-square-foot home as a "bungalow." It's small and sweet and I can walk to work. But this condo unit in Palm Beach has a balcony that's nearly as big as my whole house at 800 square feet and its making me really jealous. It's across from the beach in a historically-landmarked building, which is likely why it fetched $9.02 million.

The renovated photos of the 60-year-old unit are included in another interesting story by Darrell Hofheinz.

Kimberly Miller is a veteran journalist for The Palm Beach Post, part of the USA Today Network of Florida. She covers real estate and how growth affects South Florida's environment. If you have news tips, please send them to kmiller@pbpost.com.

Help support our local journalism, subscribe today. 

This article originally appeared on Palm Beach Post: West Palm Beach real estate still rollicking with waterfront deals