President Donald Trump has put Palm Beach County on the map. And now professionals in the real estate market are starting to see a business opportunity.
In the 10 months since Great Gulf of Canada submitted plans to build a 27-story tower on South Flagler Drive in West Palm Beach, a certain part-time winter resident has continued his seasonal treks to Palm Beach, turning what was once a home and private club into the winter White House.
This has not escaped Great Gulf’s president Christopher Wein, who hopes to sell 84 condos costing from $1 million to $3 million at 1515 S. Flagler Drive.
"The name recognition is helpful. Palm Beach and West Palm Beach were considered lesser-known, sleepy areas, and all of a sudden the President of the United States has a private retreat there and spends a lot of time there. Now it's a destination known throughout the world," Wein said.
Toronto-based Great Gulf last year bought the 1515 S. Flagler Drive property, where the former 1515 Tower was famously imploded on Valentine’s Day in 2010 to make way for a different condo project that never was built.
On the now-vacant site, Great Gulf plans to build a 27-story boutique condominium. A marketing campaign is slated to begin in the fall and sales should start in February. The height and size were approved with the prior project.
A fun fact for potential buyers of the planned luxury condo: The property sits across the Intracoastal Waterway from Trump's home, Mar-a-Lago.
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