The groundbreaking for the Ritz-Carlton Residences in Palm Beach Gardens, situated along the Intracoastal Waterway, has been initiated by Catalfumo Cos. Dan Catalfumo, leading the development firm, anticipates the project's completion by February 2026. The construction, which began with foundational work in early January, is progressing with Boston-based Suffolk Construction as the general contractor and Spina O’Rourke + Partners from West Palm Beach as the architect.
This upscale development at 2200 PGA Blvd. will feature 106 units, varying from 2,787-square-foot three-bedroom condos to 5,007-square-foot five-bedroom condos, including 16 top-floor penthouses. It also boasts 29 boat slips, with units priced between $4.5 million and $9 million. Already, 25% of the residences have been pre-sold, with one buyer purchasing and combining two units for additional space.
The project's standout aspect is its expansive 14-acre site on the Intracoastal Waterway, enhanced by a recent acquisition of an additional 2.45 acres. In May 2023, Catalfumo secured a $340 million construction loan to support the development.
Catalfumo highlights the project's appeal for those seeking a maintenance-free lifestyle, offering the luxury of not worrying about everyday household management. Based on buyer feedback, modifications have been made to the amenities, like extending the lap pool to 95 feet. Other features include a multi-level clubhouse with an event kitchen, a game area, library, coffee bar, fire pits, pool deck, private waterfront park, fitness room, and a spa with treatment rooms, a steam room, and a sauna.
Described as akin to "going on vacation in your own home," the Ritz-Carlton Residences cater to the influx of affluent residents moving to Palm Beach County, seeking luxury living options. This trend has contributed to the strong sales observed in the luxury condo market in the region.
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