Projects
Collection Suites - Palm Beach
Project facts
- Status
- Under Construction
- Address
- 874 S Congress Ave
- City
- West Palm Beach, Florida
- Region
- South Florida
- Submarket
- West Palm Beach; Boca Raton
- Units
- 20
- Amenity tier
- Premium
- Key amenities
- Gated Access & Security, Climate Control, Owners' Clubhouse/Lounge, Concierge Services, 18'+ Clear Heights
- Construction
- Tilt Wall
- Finish level
- Luxury
- Projected delivery
- 2027
- Flood zone
- X
Location Summary
West Palm Beach / West Palm Beach; Boca Raton Overview
Collection Suites - Palm Beach sits on South Congress Avenue in the south-central airport district of West Palm Beach, just below the general aviation side of the county's commercial airport and just above the established lakefront neighborhoods of Lake Clarke Shores, Palm Springs, and Lake Worth Beach. It links downtown and Palm Beach island wealth to the northeast with the lake-and-golf communities of central Palm Beach County to the south and west. The project is under construction, with 20 premium garage suites, an owners' clubhouse and lounge, concierge services, climate control, and 18-foot-plus clear heights, with delivery targeted for 2027.
The macro story is inherited from the parent summaries. Palm Beach County ranked first in the nation for net income inflow from domestic migration, a cumulative $22.7 billion from 2019 to 2023, and South Florida carries the highest wealth-index reading in the SCK coverage footprint. At the corridor level, West Palm Beach to Boca Raton blends multi-decade Boca Raton wealth with finance professionals arriving through the downtown "Wall Street South" office wave, a balanced demand profile at the 82.6 wealth percentile with an upward trajectory.
Access is a clear strength. Interstate 95 is roughly 1.5 miles east via Summit Boulevard, Forest Hill Boulevard, and Southern Boulevard, Florida's Turnpike is about 15 minutes west, and the airport's general aviation ramps line its southern edge less than a mile north of the site.
Current Events & Infrastructure
- Airport runway reconfiguration plan: Airport Director Laura Beebe told the Town of Palm Beach council in May 2025 that private jets now account for 65 percent of airport activity, and presented a plan to extend the south runway, the one nearest this site, from about 3,200 to 8,000 feet, dedicate the north runway to departures and the south runway to arrivals, and shorten the diagonal runway. The program runs 10 to 12 years through environmental study and design, and no construction cost has yet been published. For this site, it signals long-term private aviation capacity less than a mile away.
- Lake Worth Beach apartment delivery: About 2.5 miles south at 2431 2nd Avenue North, an affiliate of The Richman Group began construction in 2025 on a five-story, 195-unit apartment community backed by $62.3 million in financing, with 279 parking spaces, roughly 1.4 per home. Rental density of this kind leaves no room for a boat or a collection.
Key Demand Drivers
Demand for the project comes from households whose vehicles outnumber their parking. The towers and rental communities rising across West Palm Beach and Lake Worth Beach deliver one or two spaces per residence at most, and the nearby lakefront neighborhoods were built with standard two-car garages. Secure, climate-controlled garage suites with a clubhouse and concierge fill that gap for owners who want their collection close to where they live, fly, and entertain.
- General aviation ramps on the airport's south side: The airport covers about 2,120 acres, and its fixed-base operators and private hangars line the southern perimeter along Southern Boulevard, less than a mile north of the site. Jet Aviation's facility there alone includes a 42,000-square-foot hangar with 30-foot door clearance and an 11,270-square-foot FBO terminal sized for large-cabin business jets. With private jets at 65 percent of airport activity, fly-in owners are the most natural buyer pool for suites five minutes from their aircraft.
- John Prince Memorial Park: Roughly 3.5 miles south on Congress Avenue, this 716-acre county regional park includes 338 lake acres, four boat launching ramps, an RV and tent campground, and 4.5 miles of bicycle path. Its boaters and RV campers need secure space for trailers and rigs as well as cars.
- Palm Beach Zoo at Dreher Park: About 1.5 miles east at 1301 Summit Boulevard, the 23-acre zoo draws approximately 380,000 visitors a year, a figure offered for local color.
Location Highlights
- MSA Position: Part of the South Florida metro of more than 6 million residents, with Palm Beach County leading the nation in net income inflow from domestic migration.
- Enthusiast / Collector Culture: A private-aviation address, with the county airport's general aviation ramps less than a mile north and downtown West Palm Beach and Palm Beach island about 10 minutes northeast.
- Infrastructure & Recreation: About 1.5 miles to Interstate 95, 15 minutes to Florida's Turnpike, and roughly 3.5 miles to John Prince Memorial Park's boat ramps and lake trails.
- Market-Specific Factor: The platform record places the site in FEMA Flood Zone X with tilt-wall construction, a meaningful upgrade over at-grade residential garages for owners protecting vehicles through hurricane season.
- Tax & Quality of Life: No state income tax, the core driver behind the finance and family-office relocations that SCK tracks at the region level.
- High Net Worth Concentration: Within three miles there are 3,859 households earning $200,000 or more, rising to 11,495 within five miles and 16,974 within seven miles, supporting a Wealth Index of 7.1, above the South Florida average of 6.7.
Area Demographics (ACS 2024)
5-Mile Profile: Population 334,740 | Median HH Income $71,638 | HH Earning $150K+ 16.0% | Median Age 39.3 | Age 55+ 29.5% | Seasonal Units 9.8% | Households with 3+ Vehicles 14.3% | YoY Population Growth Not available
Wealth Index: 7.1 / 10 (SCK portfolio-relative)