A major new development is set to reshape downtown West Palm Beach as Gilbane, in partnership with Palm Beach Atlantic University (PBA), has reached financial close on a $240 million public-private partnership aimed at expanding student housing and enhancing the city’s urban core. The project, approved by the Palm Beach County Board of Commissioners, will deliver a 25-story, mixed-use student housing tower at the intersection of Acacia Road and Dixie Highway, adding much-needed residential capacity for the university’s growing student population.
The 319,000-square-foot development will include 990 student beds across 275 apartment-style units, along with extensive amenities designed to enrich campus life and foster community engagement. Additional components include a 28,000-square-foot dining hall, a 14,000-square-foot fitness and recreation center, and an 8.5-level parking garage offering 704 spaces, as well as over 230 stalls for bicycles and e-bikes. The project is funded through revenue-backed bonds issued by Palm Beach County, ensuring no direct use of taxpayer funds.
“This project will provide more housing options for students and help ease pressure on the local housing market,” said Jeffrey Resetco, Senior Development Director at Gilbane Development. “We are committed to delivering state-of-the-art facilities that support student life and contribute to the broader vitality of downtown West Palm Beach.”…