Concord Wilshire buys 43-acre Royal Palm Beach site for $60M, plans major mixed-use project

• Concord Wilshire Capital acquired a 43-acre site for $60 million
• Plans include 401 apartments, retail, hotel, and office space
• Project targets large-scale mixed-use hub in Palm Beach County

What Concord Wilshire is building

Concord Wilshire Capital has closed on a 43-acre development site in Royal Palm Beach, marking a major step toward a large mixed-use project. The property, formerly known as Tuttle Royale, will be transformed into a master-planned destination combining residential, retail, hospitality, and office components.

“This closing represents a defining milestone for Concord Wilshire and marks the transition of this project from vision to execution,” said Nate Sirang.

What the project includes

The development is planned to deliver a full mixed-use program with strong scale. Plans call for 401 multifamily units, over 426,000 square feet of retail, a 125-key hotel, and an office building. The site will also feature public spaces, including a park plaza, amphitheater, and canal-front green areas. The design focuses on placemaking, with pedestrian retail, water features, and resort-style amenities.

What this means for Royal Palm Beach

This project is positioned as a major economic driver for the area.

“This project reflects the strength of public-private collaboration and the City’s long-term vision for responsible growth,” said Jennifer Vail.

The development is expected to generate jobs, increase tax revenue, and support continued growth in Palm Beach County.

What this means for developers and investors

This deal highlights continued demand for large-scale mixed-use developments in high-growth Florida markets. Developers are targeting suburban locations with strong population growth and land availability to deliver integrated live-work-play environments. For investors, it shows confidence in long-term value creation through phased development and diversified income streams.

What happens next

Concord Wilshire is moving into the execution phase, with site activation expected to begin after final permits. The firm is also seeking partners across multifamily, retail, and hospitality to help deliver the full vision of the project. Large-scale mixed-use developments continue to shape Florida's growth markets as developers deploy capital into high-demand corridors.