Concord Wilshire Capital has closed on the $60 million acquisition of a 43-acre development site at the intersection of State Road 7 and Southern Boulevard in Royal Palm Beach, advancing plans for the rebranding and redevelopment of the property formerly known as Tuttle Royale. The site, which has also been identified in trade coverage as 10629 Acme Road, is planned for a large-scale mixed-use village with 401 multifamily residences, approximately 426,764 square feet of retail space, a 125-key hotel, and an approximately 82,875-square-foot office building.
The acquisition was announced on April 16 and marks Concord Wilshire’s next step in reviving the long-planned site in western Palm Beach County. According to the company, the development is being positioned as a mixed-use destination centered on residential, retail, and public gathering space within one of Royal Palm Beach’s major growth corridors. Trade reports also noted that the purchase followed bankruptcy proceedings involving the prior ownership entity tied to the stalled Tuttle Royale development.
Plans for the master-planned development include 401 multifamily residences, approximately 426,764 square feet of essential and service-oriented retail space, a 125-key lifestyle hotel, and an approximately 82,875-square-foot office building. The proposal also includes an activated park plaza with public spaces, a sculpture garden, and experiential amenities. Additional outdoor components described by the developer include amphitheater-capable gathering areas, a canal-front linear park, a pedestrian-oriented retail promenade with water features, and rooftop amenity space with resort-style programming…