Projects
The Hangar - West Palm Beach
Project facts
- Status
- Completed
- Address
- 1138 N Congress Ave
- City
- West Palm Beach, Florida
- Region
- South Florida
- Submarket
- West Palm Beach; Boca Raton
- Units
- 68
- Amenity tier
- Premium
- Key amenities
- Gated Access & Security, Concierge Services, Owners' Clubhouse/Lounge, Social Programming
- Construction
- Tilt Wall
- Finish level
- High-Quality
- Year built
- 2024
- Flood zone
- X
Market value summary
- # of Sales (T-36)
- 40
- Avg Sale Price (T-36)
- $483 / SF
- Avg Sale Price (T-36)
- $1,010,000
- Avg Market Value
- $619 / SF
- Avg Market Value
- $1,333,000
Location Summary
West Palm Beach / West Palm Beach; Boca Raton Overview
The Hangar sits on North Congress Avenue in central West Palm Beach, the connective spine between the airport district to the south, the Okeechobee Boulevard and Palm Beach Lakes Boulevard commercial corridors to the east, and the established western neighborhoods that feed the downtown core. It is a practical, central base for a collection that is driven often rather than stored for years.
The wealth story here is inherited from the market one level up. 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 the region carries the highest wealth-index reading in the SCK coverage footprint, reinforced by the downtown "Wall Street South" office wave that drew firms such as Wells Fargo's wealth-management division. At the corridor level, SCK characterizes West Palm Beach to Boca Raton as a balanced demand profile that blends multi-decade Boca Raton wealth with fast-arriving finance professionals, with a trade-area wealth percentile of 82.6 and an upward trajectory as the downtown office deliveries fill.
Access is a clear strength. Interstate 95 is roughly one mile east via Okeechobee Boulevard and Palm Beach Lakes Boulevard, Florida's Turnpike is about 10 minutes west, and the commercial terminal at President Donald J. Trump International Airport, formerly Palm Beach International, is roughly 2.5 miles south, about a five to seven minute drive.
Current Events & Infrastructure
- Westgate Village (former Palm Beach Kennel Club site): Directly across Congress Avenue at 1111 North Congress, Terra and the Frisbie Group are assembling the 42-acre former greyhound track for Westgate Village, planned for 1,145 apartments in three phases (400 units targeted for 2028, 340 for 2030, and 405 for 2032) plus 120,000 square feet of retail and commercial space. The partners paid $20.9 million for the first 16 acres in 2025 and a further $19.5 million for 26.1 acres reported in September 2026, with construction expected to start in 2026 while county zoning approvals for the casino relocation are finalized. For this site, it means a new residential and retail node across the street, with more than a thousand households arriving with limited parking.
- Airport Concourse B modernization: Roughly 2.5 miles south, the airport is completing a phased Concourse B program that adds infrastructure for two additional passenger boarding bridges, with Phase 2 reaching substantial completion in summer 2026 and Phase 3 targeted for summer 2028. The facility was officially renamed President Donald J. Trump International Airport on July 9, 2026, in an approximately $5.5 million rebrand, with the new DJT code effective August 18, 2026. More gate capacity at the county's commercial airport supports the seasonal and second-home owners who fly in and expect their vehicles ready on arrival.
Key Demand Drivers
The Hangar's demand comes from households that own more vehicles than their homes, condominiums, or new rental communities can shelter. The rental and tower pipeline around central West Palm Beach delivers residences with one or two parking spaces at most, and secure, climate-conscious garage suites with a clubhouse and concierge fill that gap for owners who want their collection close to where they live, fly, and entertain.
- Westgate Village residents: 1,145 planned apartments and 120,000 square feet of retail directly across Congress Avenue, phased from 2028 to 2032, adding a dense new household base within walking distance.
- President Donald J. Trump International Airport: A county airport on roughly 2,000 acres about 2.5 miles south, with a nine-gate Concourse B expansion program running through 2028, anchoring seasonal fly-in owners and business travelers.
- Relocated casino and gaming venue: Westgate Village's northern parcel carries a 60,286 square foot casino and parking structure for the continuing Palm Beach Kennel Club operation, a Congress Avenue draw since 1932.
- Kravis Center for the Performing Arts: A $138 million performing-arts campus at 701 Okeechobee Boulevard, about 2.5 miles east, anchoring the season's social calendar for the same affluent households who own collector vehicles.
- Norton Museum of Art: A collection of more than 8,900 works at 1450 South Dixie Highway, about 3.5 miles southeast, a cultural anchor whose patron base overlaps with the collector community.
Location Highlights
- MSA Position: Part of the more than 6 million resident South Florida metro, with Palm Beach County leading the nation in net income inflow from domestic migration.
- Enthusiast / Collector Culture: Central to downtown West Palm Beach, Palm Beach island, and Boca Raton, with year-round driving weather and a dense seasonal calendar.
- Infrastructure & Recreation: One mile to Interstate 95, about 10 minutes to Florida's Turnpike, and roughly 2.5 miles to the county's commercial airport and its expanding Concourse B.
- Market-Specific Factor: Flood Zone X on the platform record, in a corridor shifting from legacy racetrack land to phased apartments and retail.
- 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 4,085 households earning $200,000 or more, rising to 10,507 within five miles and 14,116 within seven miles, a Wealth Index of 6.6, in line with the South Florida average of 6.7.
Area Demographics (ACS 2024)
5-Mile Profile: Population 249,193 | Median HH Income $71,389 | HH Earning $150K+ 17.2% | Median Age 41.3 | Age 55+ 33.7% | Seasonal Units 12.3% | Households with 3+ Vehicles 13.0% | YoY Population Growth Not available
Wealth Index: 6.6 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 1 | 3,736 SF | $1,978,000 | $529 / SF |
| Unit 2 | 3,736 SF | $1,978,000 | $529 / SF |
| Unit 3 | 3,736 SF | $1,942,000 | $520 / SF |
| Unit 4 | 3,033 SF | $1,596,000 | $526 / SF |
| Unit 5 | 3,107 SF | $1,630,000 | $525 / SF |
| Unit 6 | 3,107 SF | $1,664,000 | $535 / SF |
| Unit 7 | 2,380 SF | $1,389,000 | $584 / SF |
| Unit 8 | 2,380 SF | $1,389,000 | $584 / SF |
| Unit 9 | 2,380 SF | $1,389,000 | $584 / SF |
| Unit 10 | 2,380 SF | $1,389,000 | $584 / SF |
| Unit 11 | 2,380 SF | $1,374,000 | $577 / SF |
| Unit 12 | 2,380 SF | $1,389,000 | $584 / SF |
| Unit 13 | 2,380 SF | $1,399,000 | $588 / SF |
| Unit 14 | 2,380 SF | $1,412,000 | $593 / SF |
| Unit 15 | 3,033 SF | $1,596,000 | $526 / SF |
| Unit 16 | 3,107 SF | $1,630,000 | $525 / SF |
| Unit 17 | 3,107 SF | $1,630,000 | $525 / SF |
| Unit 18 | 3,736 SF | $1,978,000 | $529 / SF |
| Unit 19 | 3,736 SF | $1,978,000 | $529 / SF |
| Unit 20 | 3,736 SF | $1,978,000 | $529 / SF |
| Unit 21 | 4,502 SF | $2,370,000 | $527 / SF |
| Unit 22 | 4,502 SF | $2,355,000 | $523 / SF |
| Unit 23 | 1,680 SF | $1,121,000 | $668 / SF |
| Unit 24 | 1,663 SF | $1,106,000 | $665 / SF |
| Unit 25 | 1,663 SF | $1,130,000 | $679 / SF |
| Unit 26 | 1,663 SF | $1,106,000 | $665 / SF |
| Unit 27 | 1,663 SF | $1,106,000 | $665 / SF |
| Unit 28 | 1,663 SF | $1,106,000 | $665 / SF |
| Unit 29 | 1,663 SF | $1,106,000 | $665 / SF |
| Unit 30 | 1,663 SF | $1,104,000 | $664 / SF |
| Unit 31 | 1,591 SF | $1,071,000 | $673 / SF |
| Unit 32 | 1,768 SF | $1,153,000 | $652 / SF |
| Unit 33 | 1,768 SF | $1,153,000 | $652 / SF |
| Unit 34 | 1,747 SF | $1,144,000 | $655 / SF |
| Unit 35 | 1,664 SF | $1,106,000 | $665 / SF |
| Unit 36 | 1,664 SF | $1,109,000 | $667 / SF |
| Unit 37 | 1,664 SF | $1,106,000 | $665 / SF |
| Unit 38 | 1,664 SF | $1,106,000 | $665 / SF |
| Unit 39 | 1,680 SF | $1,117,000 | $665 / SF |
| Unit 40 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 41 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 42 | 1,828 SF | $1,192,000 | $652 / SF |
| Unit 43 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 44 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 45 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 46 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 47 | 1,828 SF | $1,196,000 | $654 / SF |
| Unit 48 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 49 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 50 | 1,828 SF | $1,199,000 | $656 / SF |
| Unit 51 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 52 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 53 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 54 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 55 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 56 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 57 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 58 | 1,828 SF | $1,179,000 | $645 / SF |
| Unit 59 | 1,846 SF | $1,204,000 | $652 / SF |
| Unit 60 | 1,823 SF | $1,188,000 | $652 / SF |
| Unit 61 | 1,823 SF | $1,178,000 | $646 / SF |
| Unit 62 | 1,823 SF | $1,177,000 | $646 / SF |
| Unit 63 | 1,823 SF | $1,177,000 | $646 / SF |
| Unit 64 | 1,823 SF | $1,177,000 | $646 / SF |
| Unit 65 | 1,823 SF | $1,177,000 | $646 / SF |
| Unit 66 | 1,823 SF | $1,183,000 | $649 / SF |
| Unit 67 | 1,823 SF | $1,177,000 | $646 / SF |
| Unit 68 | 1,846 SF | $1,187,000 | $643 / SF |