1551 Forum Pl West Palm Beach, FL

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Listing date May 2, 2025

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Investment Insights

Based on property information with market context.

This is an opportunity to acquire a 238-unit waterfront multifamily development with site plan approval and permit-ready construction documents. The project, located in West Palm Beach, includes 60 work-from-home units at 100% AMI (Area Median Income). Recent cost estimates from local construction companies project hard costs ranging from $58 to $60 million. Forum Place received Concept Approval for a HUD 221 d.4 construction loan in December 2024.

Forum Place will be an eight-story mid-rise multifamily building situated on 3.74 acres in the Palm Beach Lakes section of West Palm Beach. The development features 238 tunnel-form, category 5 hurricane-rated units, 383 parking spaces, and 86 storage lockers. It boasts a waterfront location on Lake Mangonia with views of Clearlake and a connection to a public right-of-way extension of the Turquoise Necklace bicycle and walking paths to Downtown.

Key Highlights

• Waterfront multifamily development opportunity on Lake Mangonia with views of Clearlake.
• Site Plan approval and permit ready CDs for 238 units in West Palm Beach.
• Concept Approval for a HUD 221 d.4 construction loan received in December 2024.

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FAQs

What type of property is this?

Land - 238-unit waterfront development with site plan approval in West Palm Beach.

Where is this land located?

The property is located at 1551 Forum Pl West Palm Beach, FL.

What are key features of this property?

This property features: Waterfront multifamily development opportunity on Lake Mangonia with views of Clearlake.; Site Plan approval and permit ready CDs for **238 units** in West Palm Beach.; Concept Approval for a HUD 221 d.4 construction loan received in December 2024.