Condominium

Two luxury condominiums planned

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TEQUSTA – The skyline along the Tequesta waterfront is changing, and the construction of the 10-story SeaGlass complex near Coral Cove Park is just one part of it.

The next changes will occur closer to Cato’s Bridge, where developers plan to build new luxury condominiums on the site of two older buildings.

This summer, two Miami-area developers acquired the Regency condominiums at 250 Beach Road for about $100 million. They informed the village that they wanted to build 34 residences on the site, all with floor plans larger than the 40 currently in place.

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The Miami-Dade developer is leading three projects along the Tequesta waterfront

On October 13, Tequesta Village Council approved plans for a similar transformation just north of the Island House building at 300 Beach Road, where the same team is set to build The Savoy Jupiter Island, a 10-story building with 26 condo units.

The existing Island House Southeast building has 27 condos.

These developers, Jeffrey Soffer’s Fontainebleau Development and Perko Development, are also partners in the SeaGlass and Savoy residences on Beach Road, immediately north of the Regency site.

As the name suggests, Soffer’s company also owns one of South Florida’s iconic hotel properties, the Fontainebleau Miami Beach Resort.

Takeovers of Regency, Savoy and SeaGlass are indicative of a larger culture shift in the region, as luxury developers seek places to land in rapidly growing Palm Beach County: a step towards replacing old ones existing structures with new and more marketable ones.

According to former Tequesta Mayor Abby Brennan, the buildings at 300 and 250 Beach Road are outdated. And rent does not currently reflect the skyrocketing value of beachfront properties. The goal of these projects is to match building quality to property value.

“It’s such a welcome change, in my opinion,” Brennan said. “The two buildings [will be] in the same place where other buildings were already located. I believe they are higher, but still in code.

SeaGlass spans two parcels that once housed the condominiums of the Blowing Rock Club and a residence owned by the Pontifical Roman Catholic Institute for Foreign Missions. When work began in 2019, SeaGlass’ 21 residences were each expected to fetch prices close to $5 million.

The Regency at 250 Beach Road in Tequesta on October 11, 2022.

Most of the existing buildings along Tequesta’s waterfront date from the 1960s

Prior to approving these acquisitions, the Village Council held a workshop with Beach Road Corridor and Village residents to hear their concerns and ideas on June 29.

This mile-long strip of South Beach Road is evolving and experiencing redevelopment, according to the Village Workshop recap. Of the 12 condominium buildings along this corridor, only one was built until the 1990s. The other 11 are older, dating from the 1960s.

While the village says SeaGlass is nearing completion, it’s unclear how quickly changes will occur at other sites along the Tequesta waterfront.

The Savoy at 300 South Beach Road only needs planning permission to proceed, Village Manager Jeremy Allen said.

The developers made only a conceptual presentation of their plans for the Regency site at 250 South Beach Road. They are working with consulting firm Jupiter 2GHO on the project.

“I find (the devs) very receptive to what the board is saying,” Brennan said. “I think that’s what we got at Tequesta. Responsible developers, who will come to the board with a concept design and then listen to what the board has to say… I find that exceptional, quite frankly, because it’s not like that in every community.

Tequesta’s development review and planning and zoning committees would have to approve the work before it goes to the village council for site plan approval, Allen said. “This process has not been initiated.”

Lianna Norman covers northern Palm Beach County for the Palm Beach Post. You can reach her at [email protected] You can follow her social media reporting @LiannaNorman on Twitter. Support The Post’s local journalism: subscribe today!

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