Older Condominium in Florida to Be Replaced by 18-Story Luxury Tower

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Kolter Group, in partnership with Perko Group, is proposing to replace an existing condominium building near the Intracoastal Waterway in West Palm Beach with an 18-story luxury condo development. The new project, named Flagler House, will be reviewed by the city’s Plans & Plats Review Committee on September 12.

The current three-story building, built in 1984, contains 39 units and is located on a 1.43-acre site. The Flagler House Condominium Association has supported the redevelopment plan, with the developers, PK Flagler House LLC (a joint venture between Kolter Group and Perko Development), aiming to buy out the existing units from individual owners.

The proposed Flagler House will maintain the same number of units—39—but will feature significantly larger floor plans and offer a range of high-end amenities to maximize luxury living. The new building’s height and design will provide premium views, including a clear line of sight to former President Donald Trump’s Mar-a-Lago Club across the Intracoastal.

PK Flagler LLC emphasized its commitment to working with local residents and officials to ensure the project fits the community’s needs. "We recognize developments of this nature require careful consideration and input from all stakeholders to ensure that the final project is one that fits the needs of future residents while complementing the surrounding community from a design and architecture perspective," the developers stated.

The new condo will offer spacious units ranging from 2,770 square feet to a 10,150-square-foot penthouse. The breakdown includes 10 two-bedroom units, 20 three-bedroom units, eight four-bedroom units, and one seven-bedroom unit. In addition, residents will enjoy a variety of luxury amenities, including a fitness center, a third-floor pool deck, a movie room, a club room, a lounge, a news café, a spa treatment room, and 87 parking spaces.

This redevelopment is projected to significantly boost property tax revenue for the city. According to the application, annual tax revenue is expected to rise to $2.73 million from the current $45,670.

Designed by SB Architects in Coral Gables and supported by the local planning firm Urban Design Studio, the project reflects a growing trend in South Florida where condo associations are opting to sell to developers. Rising maintenance costs and new state laws around condo repairs have made redevelopment an attractive option for many property owners.

With a high demand for luxury waterfront condos in West Palm Beach, the Flagler House project is positioned to meet the needs of affluent buyers looking for prime real estate and top-tier amenities. The development highlights the evolving real estate landscape in the region, as developers compete for key locations along the water.