Jaime Sturgis was recently quoted in a Sun Sentinel article about two new towers in West Palm Beach resulting in massive growth for the city.
He noted that the flocks of developers, Northeasterners and companies moving to the area is accelerating West Palm’s trajectory.
“When a number of these really large funds or private equity groups or even development companies have moved down here, they want to build things that are in their backyard,” he said. “With all of that wealth that’s migrated down here, there’s also been a tremendous demand to build projects to support the people that are coming.”
A company coming from Manhattan, for example, is accustomed to state-of-the-art facilities and rental properties to support the company’s workforce, he said.
For the past 10 to 15 years, West Palm seemingly stalled behind cities such as Miami in “urban core development,” Sturgis said, meaning a lack of construction, new office buildings, retail and multifamily residences.
“The urbanization of formerly industrial neighborhoods, which we’ve seen take off on a massive scale in both Miami and Fort Lauderdale, right through Wynwood and through Flagler Village, has been very successful,” he said. “And now West Palm is doing that with Nora, which I think is phenomenal. … It really starts to become like a true urban core.”
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Featured photo credit: Carline Jean / South Florida Sun Sentinel