Developers Launch $1B Nora District's First Ground‑Up Residential Project in West Palm

Key Points

• First residential coming to Nora: 122 condos and 350 apartments planned
• Mixed‑use scale: 40‑acre district anchored by $1 billion vision and 2M sq ft of vertical development
• Phase I pickup: 150K sq ft of adaptive‑reuse retail/office opens this fall; hotel delivery due 2026 

West Palm Beach is finally getting its first ground‑up residential buildings in the Nora District, a transformative 40‑acre redevelopment led by NDT Development, Place Projects, and Wheelock Street Capital. This marks a pivotal shift from adaptive reuse to vertical growth in one of Palm Beach County’s most anticipated mixed‑use projects.

The Residential Build‑Out Begins

Condo Tower:

• 11 stories with 122 units

• Approximately 19,700 sq ft of ground-floor commercial space

• Located at 1105 North Dixie Highway, on 5.2 acres

Apartment Complex:

• An 11‑story tower including:

  • 291 market‑rate units

  • 52 workforce‑rent units

  • 7 for‑rent townhouses

• Amenities total 65,000 sq ft, plus 18,300 sq ft of retail

• Managed by Sentral, a Denver‑based multifamily operator

• Positioned between 10th and 11th Streets 

This residential phase represents Nora’s first vertical build since rezoning in 2022, and expands the district’s live‑work‑play ecosystem beyond hotels and retail.

Who’s Who in the Nora Development

• Place Projects, led by Joe Furst, drives strategic vision and investment

• NDT Development, headed by Ned and Sam Grace and Damien Barr, anchors local execution and community design

• Wheelock Street Capital, under Merrick “Rick” Kleeman and Jonathan Paul, provides capital and scale finance

• Zach Young (Young Capital Ventures) handles ground‑up design and construction

• BD Hotels / Richard Born co‑develops and operates the 201‑room Nora Hotel, slated to open in late 2026 

Phase I, breaking ground June 2023, includes transformation of 13 historic warehouses into 150K sq ft of retail and 55K sq ft of creative office, backed by $84M in construction debt from Bank OZK. Retailers opening this fall include Warby Parker, Sunday Motor Co. café, SWEAT440, LUCE jewelry, Pompanos Boutique, and Le Labo fragrance among others.

Strategic Investor Insights

• This residential installment complements Nora’s hospitality and retail base, helping deliver the 2M sq ft total build-out envisioned for the district by PlusUrbia and the development partners.

• With downtown West Palm undergoing a post‑COVID economic boom—buoyed by wealth migration, institutional leases, and a rising local workforce—Nora’s blend of residential, office, retail and hospitality aligns closely with investor and tenant demand.

Why It Matters

• First ground‑up residential component brings full neighborhood viability—ensuring built-in demand for hotel, retail and wellness offerings.

• Mixed-income rental product culture addresses affordability, while diversity in housing tenure supports long‑term leasing dynamics.

• Institutional financing, seasoned development leadership, and curated brand tenants position Nora as a benchmark for experiential urban redevelopment in South Florida.

Nora District is officially moving off the drawing board and into vertical reality. This next phase—marked by 122 condos and 350 rental units—cements developer ambitions and investor value in creating a walkable, authentic. live‑work‑play district in downtown West Palm. With Phase I retail opening this fall and the boutique hotel due 2026, Nora is accelerating into a fully integrated urban neighborhood anchored by residential demand.