A new luxury high-rise development has just been proposed in Downtown West Palm Beach, adding to a wave of investment that continues to transform the city’s urban core. Planned for 400 Hibiscus Street, the project is being led by Mast Capital and JCZM Development, with plans calling for a 24-story condominium tower with 88 residences, replacing an existing low-rise structure on the site.
The proposal has already cleared several early regulatory steps. It recently went before the city’s Plans & Plats Review Committee and has since received approval from the Downtown Action Committee for a transfer of development rights (TDR). With those approvals in place, the project is expected to eventually move toward a future City Commission hearing for final consideration.
The development site spans approximately 0.86 acres and was acquired for $5.2 million in early April of last year. Once completed, the project would effectively complete the surrounding block, which has seen incremental redevelopment over time, including a 10-story apartment building delivered in 2008.
Plans submitted to the city indicate a boutique residential offering, with a limited number of large-format units per floor. While pricing and pre-sales details have not yet been released, the project is designed to include a 5,700 square feet private residents’ club, along with a pool deck, fitness center, and additional amenity spaces located on a dedicated level.
In addition to the residential component, the tower is expected to include approximately 11,118 square feet of ground-floor retail. Parking will be within a structured podium, which is designed by Corwil Architects to be largely screened from public view through the use of glass and architectural treatments.
As part of the approval process, the Downtown Action Committee unanimously supported the transfer of 11,279 square feet of development rights from a property at 610 10th Street. This mechanism allows additional density at 400 Hibiscus Street while preserving the donor site, which includes a historic single-family property.
The site is currently zoned QGD 10-25, which would typically limit building height to 10 stories. However, the developer is leveraging both the city’s incentive programs and the TDR framework to achieve the proposed height. In exchange, the project will be required to incorporate a designated portion of affordable housing.
City staff expressed support for the proposal during the review process, a position that was echoed by the board.
The project arrives amid a broader surge in development activity across West Palm Beach. More than 9,000 residential units are currently in the pipeline, including approximately 2,800 units under construction and over 6,000 units in various stages of review, with even more development planned among office and hotel developments.