Concord Wilshire Capital Closes $60 Million Acquisition Of 43-Acre Royal Palm Beach Site

Concord Wilshire Capital announced the successful closing of its acquisition of a 43-acre development site located at the intersection of SR-7 and Southern Boulevard in Royal Palm Beach formerly known as Tuttle Royale.

With the acquisition now complete, Concord Wilshire is advancing plans for the transformation of the property into a premier, institutional-quality mixed-use destination that will serve as a central hub for residential living, retail activity, and community engagement in one of Palm Beach’s most dynamic growth corridors.

The master-planned development, will include:

• 401 multifamily residences
• approximately 426,764 square feet of essential and service-oriented retail
• a 125-key lifestyle hotel
• an approximately 82,875-square-foot office building
• an activated park plaza with public spaces, sculpture garden and experiential amenities

Designed with a strong emphasis on placemaking and long-term value creation, the development will feature a highly curated mix of uses, including an activated park plaza with amphitheater capabilities, a canal-front linear park and sculpture garden, a pedestrian-oriented retail promenade with immersive water features, and a rooftop amenity environment anchored by resort-style programming.

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

 

“We are now fully engaged in delivering a thoughtfully designed, mixed-use community that will create a true sense of place, generate meaningful economic activity, and serve as a long-term asset for Royal Palm Beach and the broader region,” said Bromley Kelly, Managing Director of Construction of Concord Wilshire.

Site activation will be underway soon, with initial mobilization activities coming soon, following receipt of all required permits. These early-stage efforts reflect the company’s commitment to maintaining forward momentum and executing the development in a disciplined and timely manner.

As Concord Wilshire advances the next phase of development, the company is actively engaging with best-in-class multifamily developers, retail operators, and strategic partners to bring the full vision of the development to life.

“The scale, location, and design of this project present a unique opportunity for premier partners to participate in a landmark development within Palm Beach County,” added Kelly. “We look forward to aligning with groups that share our commitment to quality, execution, and long-term value creation.”

The redevelopment of the property is expected to serve as a significant economic catalyst, generating construction and permanent jobs, enhancing the local tax base, and supporting the continued evolution of Royal Palm Beach as a destination for both residents and businesses.

“This project reflects the strength of public-private collaboration and the City’s long-term vision for responsible growth,” said Jennifer Vail, Director of Engineering and Planning of Concord Wilshire. “We are proud to help bring forward a development that will elevate the character of the community while delivering lasting economic and social benefits.”

Concord Wilshire will announce additional details in the coming months, including the formal rebranding of the development and announcements of key residential and retail development partners.