Terra and BH Group Plan Twin Luxury Towers on North Flagler Drive

Published: July 4th, 2026

Terra and BH Group are planning twin 31-story towers across from Currie Park on North Flagler Drive. The seller, billionaire Jeff Greene, paid $1.5 million for the site in 2014 and is now exiting with a roughly 6,500% return.

Terra and BH Group are under contract for a 1.55-acre waterfront parcel on North Flagler Drive.
The developers plan two 31-story towers with 281 condos ranging from 1,065 to 4,510 square feet.
Seller Jeff Greene called the site "the best left anywhere in Palm Beach County."

Two of South Florida's most active developers are teaming up on one of the last open waterfront sites in West Palm Beach. Terra, led by David Martin, and Aventura-based BH Group are under contract to buy a 1.55-acre parcel at 2085 N. Flagler Drive from billionaire developer Jeff Greene for approximately $100 million. The site sits directly across from Currie Park, which the city is upgrading in a $35 million renovation. This stretch of North Flagler has become West Palm's hottest condo corridor, and this deal shows you exactly why.

What are Terra and BH Group planning?

The developers are planning two 31-story towers totaling roughly 440,000 square feet. You are looking at 281 condos ranging from 1,065 to 4,510 square feet (averaging about 1,762 square feet), 4,385 square feet of retail space, and 362 parking spaces. Amenities will be located on the third and ninth floors and include a pool deck. One tower gets rooftop amenity space, the other a top-floor penthouse.

Now, this is still early-stage. The site is under contract but has not closed, and plans are still evolving. The roughly $100 million figure is what sources told The Real Deal and South Florida Business Journal. Greene confirmed only that the price exceeds $90 million. So take it as a strong estimate rather than a confirmed number. But even at $90 million, you are talking about a massive land deal for Palm Beach County.

Why is this land worth so much?

Here is the number that should blow your mind. Jeff Greene's LLC paid just $1.5 million for this parcel in 2014. The contract price of approximately $100 million represents a roughly 6,567% increase over about a decade. Greene called it "the best site left anywhere in Palm Beach County." That kind of land appreciation tells you everything about what has happened to West Palm Beach over the last decade.

As Larry Mastropieri explained on the Discover South Florida Podcast: "What is wild is that West Palm still has these vacant waterfront sites. In Miami, you usually have to tear something down to build something new. In West Palm, there are still open sites on the water, and that shows how quickly the city has changed over the last 25 years."

The catalyst here is public money. The city is spending $35 million to transform Currie Park, directly across from this site, into an active waterfront destination. That is exactly the kind of amenity that lifts surrounding land values and draws luxury development. When the government invests that kind of money in a park, developers pay attention.

What else is happening on North Flagler?

North Flagler is now West Palm's defining condo corridor, with more than 2,000 units in the city's pipeline and the biggest names competing for waterfront dirt. You want to know if demand is real? Look at this: a penthouse at the nearby Ritz-Carlton Residences went under contract for $16.95 million in June 2026. That is a North Flagler record. The money is there.

Rosewood Residences (2001 N. Flagler): Related Group and BH Group's 27-story, approximately 90-unit tower received city approval in June 2026. This is right next door to the Terra site.

Olara (1919 N. Flagler): Savanna's 26-story tower with 275 condos is under construction just south of the Rosewood site.

Shorecrest (North Flagler): Related Ross's 28-story, 98-unit tower is also under construction along the corridor.

Alba (4714 N. Flagler): BGI and Blue Road's 22-story, 55-unit tower is expected to be completed in 2026, adding to the luxury inventory further north.

When you see this many cranes on one corridor, you know something real is happening. This is not speculation. This is developers with deep pockets betting big on West Palm Beach.

Considering West Palm Beach's waterfront corridor? Talk to a Palm Beach County real estate agent who tracks North Flagler's inventory and pricing trends. Reach out to The Mastropieri Group or call (561) 556-9853.

Who are the developers behind this project?

Terra: Led by David Martin, Terra is one of South Florida's largest developers. You may know them from the Boca Raton Innovation Campus (BRiC) redevelopment we covered recently. Martin has built a reputation for high-design projects across Miami-Dade and is now pushing into Palm Beach County. When Terra shows up, you pay attention.

BH Group: Led by Isaac and Liat Toledano out of Aventura, BH Group is one of the region's most prolific joint-venture partners. They are co-developing the Ritz-Carlton Residences West Palm Beach (with Related Group) and the just-approved Rosewood Residences next door at 2001 N. Flagler. BH has a track record of pairing with major developers on luxury waterfront projects, and they clearly like this corridor.

Here is the bottom line: the fact that both groups are willing to pay approximately $100 million for raw land tells you how confident developers remain about West Palm Beach's trajectory. Between the Currie Park investment, the Ritz-Carlton pricing, and the growing North Flagler pipeline, this corridor is becoming one of the most important luxury development zones in Palm Beach County. If you are watching the market, this is the story.

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Frequently Asked Questions

What is being planned at 2085 N. Flagler Drive in West Palm Beach?

Terra and BH Group are planning two 31-story towers with 281 condos, 4,385 square feet of retail, and 362 parking spaces. Units will range from 1,065 to 4,510 square feet. Keep in mind this site is under contract but not yet closed, so plans could still evolve.

How much did the North Flagler waterfront site sell for?

The contract price is approximately $100 million, according to sources. Seller Jeff Greene confirmed only that it exceeds $90 million. Here is the wild part: Greene paid $1.5 million for this parcel in 2014. That is roughly a 6,567% return in about a decade.

Who is selling the 2085 N. Flagler Drive property?

Billionaire developer Jeff Greene is the seller. Greene is a longtime West Palm Beach developer and landowner who called this site "the best left anywhere in Palm Beach County." When a guy with that kind of portfolio says that, you listen.

What other condo projects are under construction on North Flagler in West Palm Beach?

Several luxury towers are in the pipeline. Olara (26 stories, 275 units) and Shorecrest (28 stories, 98 units) are under construction. Rosewood Residences (27 stories, approximately 90 units) received approval in June 2026. Alba (22 stories, 55 units) was completed in 2026. This corridor is stacking up fast.

Why is the North Flagler corridor attracting so much development?

A few reasons. The city is investing $35 million in Currie Park directly across from several of these sites. Public amenity investment lifts surrounding land values. The corridor also offers some of the last open waterfront parcels in West Palm Beach. And demand is real: a $16.95 million penthouse contract at the Ritz-Carlton Residences in June 2026 set a North Flagler record.

Local help for buyers in West Palm Beach

If you are buying or investing in West Palm Beach, North Palm Beach, or anywhere along the North Flagler corridor, you need to understand what is coming to this market. Reach out to The Mastropieri Group, Realtors®.

For hands-on support across Palm Beach County, call (561) 556-9853.