New Construction TRENDS in Palm Beach County

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Presentation transcript:

New Construction TRENDS in Palm Beach County Property Appraiser’s Office New Construction TRENDS in Palm Beach County presenter: Dorothy A. Jacks, CFA, AAS Property Appraiser

Construction in Palm Beach County by Decade

New Plats/Condominiums Over Time

Deeds Over Time

New Construction Totals Over Time

Future Projects of Note RESIDENTIAL Avenir Northwestern Palm Beach County 4,763 acres; 3,200 Homes Commercial and Hotel

Future Projects of Note RESIDENTIAL Westlake-PBC’s newest City Unincorporated the Acreage 3,800 acres 4,500 Homes, 2.1 million SF of Commercial Space

Future Projects of Note RESIDENTIAL Alton-Palm Beach Gardens 682 acres, 2,000 Homes & 700 Apartments; Commercial, Retail, Hotel, Office

Boca Raton 2017/2018 New Construction Downtown 2017 Palmetto Promenade: 389 Rental Units; 13,488 SF Commercial Hyatt Place: 200 Hotel Rooms; Restaurant Boca City Walk: 229 Rental Units 101 Via Mizner: 336 Rental Units; 19,000 SF Commercial; Hotel & Condo’s to come Royal Palm Yacht & Country Club: Clubhouse and Marina 2018 Via Mizner/Mandarin Oriental Hotel

Boca Raton 2017 2018 2017/2018 New Construction Federal Highway North Scan Design: 23,000 SF Clive Daniel Home: 68,389 SF 2018 Robb & Stucky: 28,331 SF

FAU-Yamato-Spanish River Boca Raton 2017/2018 New Construction FAU-Yamato-Spanish River 2017 Park Place @ Fairway: 68,449 SF Retail Residences @ Broken Sound: 600+ Rental Units 2018 Allure Apts.: 282 Rental Units; 10,000 Retail Altis Apts.: 398 Rental Units FAU/Schmidt Family Complex: $40 Million Complex; Training, Weights, Practice Fields University Village: 1,343,320 SF

Re-Emergence of Gas Stations and Convenience Stores Commercial Trends

6,000 SF of building on 2.5 acres of land Commercial Trends Typical Gas Stations & Convenience Stores: 2,200 SF on 1 acre of land 6,000 SF of building on 2.5 acres of land Great “Hoagies”, fresh brewed coffee, no fee ATM’s & Free XFINITY Wi-Fi!

Commercial Trends Industrial Activity-Turnpike Corridor Central Palm Beach County Commercial Trends Turnpike Business Center:353,000 SF; 5 warehouse buildings planned Turnpike Crossing: Can support up to 822,850 SF 6 buildings planned

Commercial Trends Industrial Activity-Turnpike Corridor Central Palm Beach County Commercial Trends 3. FedEx – Distribution Center: 225,000 SF 4. Liberty Airport Center Can support up to 630,000 SF; 7 buildings planned

Thank you! Dorothy A. Jacks, CFA, AAS Property Appraiser presenter: Palm Beach County Property Appraiser’s Office Thank you! presenter: Dorothy A. Jacks, CFA, AAS Property Appraiser