WEST PALM BEACH, FL-Condos in 268-unit Tower I of Opera Place have achieved a 97% sell-out within four months, encouraging Miami-based BAP Development to begin sales of units in the second, mirror-image tower. Groundbreaking for both buildings, according to architect Willy Bermello, BAP's president, may begin as early as this November. "The response has been overwhelming," he says.
The 536-unit Opera Place development consists of two 26-story buildings on approximately 3.1 acres at 419 Lakeview Ave., near CityPlace and across from the new convention center, on the site of the former Palm Beach Opera from which it takes its name. According to published reports, BAP paid $16 million for the land. The estimated construction cost is undisclosed.
Floor plans encompass 492-sf studios and one-, two- and three-bedroom units, including lofts and penthouses of up to 2,177 sf. Prices range from the $300,000s to the low-$3-million level. All are wired for high-speed Internet and wireless access and contain a concierge panel linking them to the buildings' numerous amenities and services.
In addition to residential units, Opera Place will contain a 44,500-sf retail galleria and a 340-seat theater to house productions of Florida Stage Theatre Co. The property will have an eighth-floor recreation deck with a garden, infinity-edge pool, poolside barbecue area and 30-seat media room. BAP recently completed the $55-million 610 Clematis luxury condos here along with Cypress Club in Fort Myers, and Onyx and Onyx 2 in Miami.
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