Related Cos., led by Miami Dolphins owner Stephen M. Ross, is moving forward with plans for a 25-story office tower along the Intercoastal Waterway in downtown West Palm Beach.

The New York-based company previously sought approval for the project at 809 S. Flagler Dr. and 134-142 Lakeview Ave., but it was turned down by city officials in 2017. However, in 2018, the city approved a new Okeechobee Business District in part of downtown – including the property the Related Cos. has under contract – that would permit dense office development.

On Dec. 11, the city’s Downtown Action Committee will consider Related’s plans for the One Flagler office building. It would go on a 2.47-acre site under contract from the First Church of Christ Scientist. The building would be constructed to the west of the historic church, which would be preserved.

One Flagler would total 524,831 square feet, including 268,649 square feet of office space, a 3,997-square-foot restaurant on the ground floor and 497 parking spaces on floors two through seven. There would be three roof terraces and 39,942 square feet of open space on the ground level.

The building was designed by Skidmore, Owings & Merrill, the architect of One World Trade Center in New York. The architect of record is Leo A. Daly. Attorney Harvey E. Oyer III represents Related in the application.

Related officials declined comment.

This proposal comes as Related is already building 300,000 square feet of offices at 360 Rosemary as part of the Rosemary Square mixed-use project further west in the city. Palm Beach billionaire Jeff Greene is also building offices as part of One West Palm, which will include apartments, a hotel and commercial space. Both of those projects seek to capitalize on the relatively low vacancy rate of Class A office space in downtown West Palm Beach.

Unlike those two new projects, One Flagler would be right on the Intracoastal Waterway, and also be closer to the wealthy island of Palm Beach. It could capitalize on the trend of wealthy individuals moving to Palm Beach and setting up their business offices nearby.

Source: https://www.bizjournals.com/southflorida/news/2019/12/06/related-cos-proposes-waterfront-office-tower.html