Nora District, West Palm Beach: Inside the Redevelopment
Shanice Lodge
Why is South Florida’s Real Estate Market Growing?
The South Florida real estate market is HOT—especially in West Palm Beach! According to FloridaRealtors, “In West Palm Beach, retail occupancies are at their record high.”
Ken Himmel, the president of Related Ross, said that the demand is due to the “deliberate and sustained migration of high-net-worth individuals, financial executives and tech leaders to South Florida since the start of the pandemic.” We see this excitement with the upcoming Nora Redevelopment.
What is the Nora Redevelopment?
The Nora Redevelopment in West Palm Beach, A.K.A. the NORA District, is an adaptive reuse project transforming a 40-acre area into a mixed-use neighborhood.
| Project Information | |
|---|---|
| Project Type/Size: | MultiFamily (> 350 units), Retail/Office (50,000-99,999 sq-ft), Hotels (100,000-249,999 sq-ft), Retail/Office/Restaurants (100,000-249,999 sq-ft) |
| Construction Type: | New, Renovation |
| Estimated Value: | $30 million |
| Sector: | Private |
| Details: | Plans call for the redevelopment of Nora District on 40 acres which involves renovation of existing buildings and warehouses along Railroad Avenue, and development of multi-family residences or offices on the northern vacant lots. The renovation of vacant buildings and warehouses will be in the early phases of the development, and they will be repurposed into shopping, dining and office space. The northern site will be developed with mid-rise and high-rise apartments, offices, and a hotel. The first phase will be streetscape improvements and Phase II will include three, two-story office/retail buildings. |
Project details Courtesy of Hubexo’s ConstructionWire.
View full project details for this project here.
Who are the key players on the Nora Redevelopment
View key players on this development.