CREDITS:
By Darrell Hofheinz
Published in the Palm Beach Daily News | Jan 4, 2019
A recently launched — and very slick — website is promoting the charms of the newly named Royal Poinciana Palm Beach, the mixed-use redevelopment project that just broke ground at the east end of Royal Poinciana Way.
The website, RoyalPoincianaPalmBeach.com, includes information about Palm Beach’s historic Main Street and an animated video that shows what the development will look like when it’s completed in 2020. Floor plans of the six luxury condominiums to occupy the second floor also are featured.
A rendering shows the facade of the Royal Poinciana Palm Beach mixed-use development under construction at the east end of Royal Poinciana Way. Rendering courtesy RoyalPoincianaPalmBeach.com
The Daily News this week broke the story that the Frisbie Group has joined with The Breakers to develop the project at the the 1.3-acre site, which since 1947 was the site of the Testa’s Restaurant. The restaurant building, adjacent shops and a long-empty gas station were demolished this month. The Frisbie family earned the town’s approval to build the project two years ago.
The Breakers is set to buy the entire ground floor — plus the parking garage — of the development at 121 and 131 Royal Poinciana Way, according to the development team. No word yet on the sales price or the time frame for the deal to close.
The resort also will handle leasing for the retail space and will operate the as-yet-unnamed restaurant that will replace the defunct Testa’s. The roles of restaurateur and leasing agent fit right into the resort’s wheelhouse.
A rendering shows another courtyard in Royal Poinciana Palm Beach mixed-use development under construction at the east end of Royal Poinciana Way. Rendering courtesy RoyalPoincianaPalmBeach.com
Not only does The Breakers offer several eateries on its oceanside property, but it also has long operated an off-site Asian-fusion restaurant, Echo, a couple of streets north of Royal Poinciana Way. As far as high-end shops go, the resort’s collection of boutiques in the main hotel includes Ralph Lauren Polo, Lilly Pulitzer and Guerlain.
The Frisbie family, meanwhile, will retain ownership of condominiums, with agent Suzanne Frisbie of the Corcoran Groupmarketing them for sale.
The development’s name is similar to one of the town’s major shopping areas just down the street — Royal Poinciana Plaza, which these days is being marketed simply as The Royal.
Darrell Hofheinz writes about real estate in his weekly “Beyond the Hedges” column. He welcomes news items about Palm Beach real estate for this column.
Email dhofheinz@pbdailynews.com, call (561) 820-3831 or tweet @PBDN_Hofheinz.
