The Allen Morris Company has closed on a roughly 1.4-acre assemblage in West Palm Beach for $16.8 million, clearing the way for a 14-story rental tower with 305 homes just a block from the Intracoastal Waterway. The planned project, called Pine Street Residences, would rise on Pine Street between North Flagler Drive and U.S. 1, folding in a landscaped park, ground-floor retail and curved balconies meant to give the building a design-forward edge.
The acquisition and development plans were first detailed by PROFILEmiami, which reported that the site includes 1830 North Dixie Highway along with adjoining Pine Street parcels. The Allen Morris Company is partnering with Savanna on the project and will lead development as managing member, according to the outlet.
What’s Planned for the Pine Street Site
Pine Street Residences is slated to include approximately 210,000 square feet of residential space alongside 5,000 square feet of ground-floor retail, per the same report. The plan also calls for a curated dining concept and a landscaped park organized around a monumental banyan tree, with planted terraces and landscaped pedestrian areas woven throughout the property.
Oppenheim Architecture is designing the building, with Baker Barrios serving as architect of record, the report notes. The developer is marketing the community toward young professionals seeking design-focused homes at attainable rents, though no specific rental rates or detailed unit mix have been announced.
Financing and Timeline
The project identifies financing through HUD’s Section 221(d)(4) program, according to PROFILEmiami’s reporting. Construction is anticipated to begin in the fourth quarter of 2027, with completion targeted for the fourth quarter of 2029 — though the outlet’s report notes those plans and dates remain subject to change…