New York developer plans to break ground later this year.
By Katherine Kallergis
Rendering of Rosemary 360 and Stephen Ross
Related Companies has unveiled plans for a new office tower in downtown West Palm Beach.
Related expects to go before the West Palm Beach City Commission this summer with its proposal for 360 Rosemary, a 300,000-square-foot, Class A office building at Rosemary Avenue and Evernia Street, according to a spokesperson.
The New York-based developer would break ground on the project later this year if approved. The LEED Silver building would include a conference center facility, fitness center, industrial-style lobby and outdoor amenities, according to a release.
Jon Blunk, president of Tower Commercial Real Estate, will be handling leasing.
The building would mark the first new Class A office project since City Place Office Tower was completed in 2008. It would be built within walking distance of the new Brightline station.
Gopal Rajegowda, senior vice president of Related, said via a spokesperson that the company hasn’t decided on its equity-debt structure for the development, but that “there is significant interest from financial partners.”
Late last year, Related announced it was proposing a major revamp of its City Place West Palm Beach. The firm plans to knock down the former Macy’s building and replace it with 350 luxury apartments, retail and restaurants.