Brand Atlantic Real Estate Partners, Wheelock Street Capital, and B+H Architects released design plans for a new mixed-use office block in West Palm Beach called Banyan & Olive.
The project is intended for technology and finance firms relocating to an area that is becoming known as Wall Street South. “Over the last two years, West Palm Beach has become an emerging destination for finance and tech, with major players in both sectors relocating to the area,” said Patrick Fejer, principal at B+H, in a news release. “With that growth comes a demand for a new type of mixed-use office space that emphasizes mixed-use spaces, luxury amenities to the public realm, and connection to outdoors. This evolution of the local workforce means a change in vision for the downtown. It’s an exciting time to be building in West Palm Beach.”
The development includes the original heritage building on the site, 111 Olive. That structure will be retained, restored, and transformed into a three-story mixed-use tower with ground floor retail, a new marquee restaurant at grade that will have an expansive outdoor patio, and boutique office space on the top two floors. “Previously occupied by a department store, it was paramount that the original art moderne aesthetic be retained to connect back to the historic fabric of the neighborhood,” according to a news release.
A vacant parking lot next to 111 Olive will house 300 Banyan, a 12-story geometric glass tower with Class A office space. It will include an expansive amenity floor equipped with a state-of-the-art indoor/outdoor gym and private outdoor terraces that can be used year-round. The tower will include an elevated parking garage with ground floor retail, a lobby, and food and beverage offerings.
Connecting 111 Olive and 300 Banyan will be a public walkway that can accommodate food and beverage and retail pop ups or cultural programming to foster a sense of community between both buildings. The strategy to integrate with the community reflects the recent revitalization of downtown West Palm Beach into a bustling arts and entertainment district that is now a major player in the finance and tech economy, the release says.
The project will be delivered in two phases: 111 Olive is scheduled for delivery and occupancy in the 4th quarter of 2022; 300 Banyan is scheduled for delivery and occupancy in the 4th quarter of 2023.
Owner and/or developer: Brand Atlantic Real Estate Partners and Wheelock Street Capital
Design architect: B+H Architects
Architect of record: Spina O'Rourke + Partners
MEP engineer: OCI Consulting Engineers
Structural engineer: Bliss & Nyitray, Inc.
General contractor/construction manager: Gilbane