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WEST PALM BEACH, FL-Miami-based BAP Development will retain ownership of Opera Place at 419 Lakeview Ave., where the developer plans to build a mixed-use development with hotel, office and retail space, and a limited number of condominiums.

A 20-story condominium development had been planned for the site under a contract to sell the site to Trinity Quadrille LLC for $44 million. However, the buyer defaulted and failed to close after four scheduled closing dates. The developer has returned all deposits to former buyers of the planned condominium.

A BAP spokesperson tells GlobeSt.com that the company, which specializes in urban infill development, plans to develop more specific details for the project over the next several months. No further details regarding the project are being released at this time.

“We appreciate the cooperation of all those who supported our project specifically buyers who waited earnestly for their deposits,” BAP president Willy Bermello says. “We look forward to unveiling our plans in the near future and continuing our commitment to Downtown West Palm Beach.”

BAP has completed 610 Clematis in West Palm Beach and Onyx in Miami, and is developing the Cypress Club in Fort Myers.

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