115 New Condos Unsold In Downtown West Palm Beach From Crash Of 2007

Those residential towers in West Palm Beach are not as empty as they seem. Notice that this article, which comes from the real estate sales side of the development industry, doesn't even mention Lake Worth. And it shouldn't. For all the screams of "over-development" we heard doing the boom period now some 10 years ago, we really didn't add that many residential units. In fact, we may have lost a net number of units due to foreclosures and some of our continued vacant structures. And, guess what, 11 more residential towers are planned for downtown West Palm Beach. Haven't heard of anything new planned for Lake Worth's downtown area, other than previously approved projects. I wonder why?

In the third quarter of 2013, buyers acquired nearly 100 condo units on the resale market at an average price of less than $125 per square foot in Downtown West Palm Beach, according to data from the Florida Realtors association.
As the developer unit inventory shrinks, at least 11 new condo towers with more than 1,800 units have been proposed in the Downtown West Palm Beach area as of December 23, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.
Overall, more than 180 condo towers with nearly 24,700 units have been proposed for the tricounty South Florida region of coastal Miami-Dade, Broward, and Palm Beach as of December 23, 2013, according to the Cranespotters.com.