Breaking Ground and Breaking Barriers in Palm Beach
Have you noticed the construction boom in Palm Beach County lately? Real estate professionals and members of the Broward, Palm Beaches & St. Lucie Realtors® have recently seen an influx in population and communities, redefining Palm Beach County's image. If you have recently taken a drive on Interstate 95 through Downtown West Palm Beach, you can see the massive cranes arching over the skyline.
Downtown West Palm Beach
West Palm Beach is booming with development, and the future is bright. Some of the city's newest projects include expanding the downtown area's residential living pockets and adding mixed-use and commercial space to bring new businesses to paradise.
New buildings are breaking ground across downtown, with multiple buildings over 20 stories, like the apartments at 575 Rosemary. When it comes to commercial high-rises, One Flagler will become an iconic landmark and enhance the skyline of Downtown West Palm Beach, offering 26 floors of state-of-the-art office space. In addition, the primetime retail space is bringing in some of the Nation's top finance executives and investors.
$34 billion left New York State, and Palm Beach County was the #1 destination for transferring New York's wealth and migration, reported by Uncast.
The County is receiving more than just droves of New Yorkers. Since the pandemic, there has been a mass exodus from California to Florida. BeachesMLS reports that Realtors® throughout California will soon receive listing data from homes directly listed in Palm Beach County. The partnership between BeachesMLS and California Regional MLS will undoubtedly attract more west coast businesses and residents to Palm Beach County. Palm Beach County is home to 42 billionaires and 71,000 millionaires, according to Forbes.
The expansion has become vital, continuing beyond downtown. The County continues onboarding mega neighborhoods in suburban districts and the western communities. Avenir, located at the edge of Palm Beach Gardens, is a 4,752-acre community currently building almost 4,000 homes and is approved for 400,000 square feet for retail shops and dining.
The southern part of Palm Beach continues to blaze a trail in Delray Beach and Boca Raton. New construction continues to pop up in areas that are becoming significant corridors but were once known as vacant land lots. Boca Raton recently launched its new Brightline station making the city a convenient access point for residents and tourists. Their mobility efforts also unveiled the new diverging diamond interchange to alleviate the traffic in a dense section of Interstate 95.
It is evident that when major news outlets across the Nation promote South Florida and Palm Beach County as one of the hottest real estate markets in the Nation, it is legit. The County has been growing for decades, and now it is stepping up in a big way for future projects and a convenient lifestyle. If you are interested in buying or selling, contact a local Realtor® today! Realtors® are the market experts and your advocates in the home buying or selling process. Learn more about how Realtors® can serve your needs at OnlyARealtor.com.