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Once rejected as 'the wrong side of the tracks', West Palm Beach is now booming with luxury developments, high-end restaurants and large business investments.
The transformation is fed by an influx of financial companies, warm weather and the tax -friendly environment of Florida, who attract both residents of Palm Beach and remotely New Yorkers.
The city, located 70 miles north of Miami, was once known for its aging multi-family houses in decline, running apartments and overgrown lawns.
A literal train track separates West Palm Beach from the Upper Crust Palm Beach, where the Mar-A-Lago estate of Donald Trump is located. Many residents of Palm Beach have long been familiar with the workforce of West Palm for household staff and services.
But West Palm is now called 'Wall Street South', with more than 300 hedge funds and private equity companies with offices there.
“West Palm Beach has become one of the most popular real estate markets because of a combination of economic growth, lifestyle appeal and investment activities,” says Christie Di Lemme, who runs in Florida Homes Realty and Mortgage.
The expansion is also attributed to a post-Pandemic recovery in which many people moved full-time to West Palm after they had worked there temporarily.
In 2020, Ken Griffin, the founder and Chief Executive Officer of Citadel, one of the world's leading alternative investment companies, started his Hedgefonds for four seasons during the Covid Lockdown in Leiden.
What followed was a wave of financial companies, including Goldman Sachs, BlackRock and Point72, opening offices in the city.
“The demand from the office space is growing, powered by hedge funds, private equity companies and startups that move,” says Di Lemme. “These companies make well -paid jobs and attract rich professionals.”
The demand for office space is growing, powered by hedge funds, private equity companies and startups that move
The expansion is also attributed to a post-Pandemic recovery in which many people moved full-time to West Palm
Christie Di Lemme is a broker in West Palm
A technical tree
The city also sees an increase in technology companies and startups, creates new vacancies and attracts Millennials and Gen Z professionals to the area.
“West Palm Beach evolves into a younger, more lively city with career opportunities, affordability and high quality of life,” says Di Lemme.
“It's a perfect mix of work, lifestyle and investment potential, that's why younger generations make the move.”
According to Di Lemme, Palm Beach County has attracted around 140 companies in the past five years, including West Palm Beach, resulting in more than $ 1.12 billion in capital investments and creating more than 13,100 jobs.
A better home -work traffic
The Brightline High-Speed ​​Rail offers easy commuting for both Miami and Orlando
There is a great demand for houses near the train station, which gives the center of a boost
Mayor of West Palm Beach Keith James says the train has helped the city to become a big hub
Better Transport also helps the city.
The clear fast rail offers easy commuting for both Miami and Orlando. The train also increases the demand for properties near the station, making apartments in the center more attractive.
According to mayor of West Palm Beach, Keith James, the train helped the city to become a big hub.
'Travel in and out of West Palm Beach is quite handy. The fast train station in the heart of the center of West Palm Beach, connects West Palm Beach with other large cities in the region, including Miami and FT. Lauderdale, and to Orlando, “says James Daily Mail.
Fine dining
Eataly brings its famous Italian food hall to Cityplace in West Palm Beach
People are also attracted by the luxury retail and dining that expand, with high-quality brands and restaurants in Michelin stars that open in West Palm.
Open a growing number of chic restaurants or have opened outdoor posts in West Palm, including Nobu in the Palm House Hotel, Pastis in the Nora Hotel and Milos at One Flagler.
There is a swifty's, a Sant Ambroeus, Tutto mare, Bellini Café, Bellini Restaurant and the Bellini Rooftop Lounge. Eataly will open an Italian food hall in the fall in Cityplace.
Green life
The South Flagler buildings will focus on luxury apartments that are environmentally friendly and green
The rise of smart houses and more green and sustainable developments is also tempting for people. Developers focus on environmentally friendly and green luxury houses, with smart-home technology and energy-efficient functions that people want in their houses.
Mayor James says there is no shortage of housing options in the city.
“There is a huge diversity of housing options in West Palm Beach, from gated communities, beautiful historic neighborhoods, luxurious high -rise condominiums and modern apartments and apartments in his urban core,” he says.
The cultural scene is growing
Mayor James describes West Palm 'is a refined city with cultural and eateries of world class, but still has a charm in a small city.'
Street wall paintings, sculptures and art galleries come in the city center. West Palm also contains an annual celebration called Mosaic (month of shows, art, ideas and culture) that focuses on the local art scene.
Cityplace has an ultramodern AMC and from there residents can walk to shows in Raymond F. Kravis Center for the Performing Arts.
Historic Clematis Street has night spots and a trolleys system that connects to Cityplace.
Outdoor
Many residents of West Palm have a boat or know someone who owns a boat
Visarters, sunset cruises, beaches, parks and hiking trails are all part of life in West Palm.
Preserves, paths and refuge for animals are in the entire area.
Or residents can spend the day on one of the public beaches, kept dunes or mangrove forests.
On average, the temperature usually varies from 59 degrees F to 89 degrees F. over the course of a year.
Look out
The tree can be credited to related Ross -developer and owner Stephen Ross, owner of Miami Dolphins
Much of the tree can be credited to related Ross developer and Miami Dolphins -owner Stephen Ross, a visionary real estate who had a great chance of the once underdeveloped city that became a business and cultural hub.
On March 12, his company, related Ross, held a groundbreaking ceremony for two new commercial office towers that will have a total of a million square foot office space in total. The existing West Palm portfolio of Ross has a total of 1.7 million square feet.
Near the new buildings will be a graduated campus for Vanderbilt University. Cleveland Clinic is also ready to open an ultramodern hospital.
Mayor James says he expects the constant growth for West Palm Beach.
“West Palm Beach will be even more attractive for companies in the Tech, Financial Services and Money Management sectors, in the last place, for the establishment of the Vanderbilt Graduate Campus that will house programs in business, Applied Computing, Cyber ​​Security, AI and Engineering,” he says.
'The Vanderbilt -Campus will serve 1000 students a year. That talent pipeline will be quite attractive for companies that are considering establishing a footprint in West Palm Beach. '
