Bob Vail, president of Kolter Urban, was among the featured panelist at the 2016 Real Estate Developer Power Lunch.
One of the topics of discussion was the impact of other states on the residential market of Palm Beach County. Developers on the panel felt that the Northeast and Canada had a greater influence on the county’s real estate market than the local economy, while Vail stated that buyers from outside of the area account for 60-70% of Kolter’s condominium sales.
The condominium and mixed-use division of Kolter Group, Kolter Urban is developing a range of ultra-luxury towers throughout Florida, including 100 Las Olas, 5000 North Ocean, and Water Club North Palm. One of Kolter’s latest projects, the Alexander apartment building, broke ground this March in downtown West Palm Beach.
“We see the fundamentals of West Palm as being so good,” said Vail. “The Proximity to the airport. The public waterfront. The bridges to Palm Beach.”