Gilbane Building Co. and SavCon of New York City will lead preconstruction and construction management services for Olara Residences in West Palm Beach, Florida, Gilbane announced on September 21. The Providence, Rhode Island-based builder did not disclose the cost of the project.
The 2 million-square-foot tower, managed by New York City-based real estate investment firm Savanna Fund, will have 275 condos and 210 rental apartments, according to the release. According to a local real estate agent, the condos start at $2 million.
The current design includes a private marina, concierge service and a fitness and wellness center with a terrace featuring a traditional Japanese onsen, according to the release. Additional amenities include a clubhouse, leisure pool, and lap pool surrounded by private cabanas.
“Given the scale of this project, we recognize the importance of accurate scheduling and on-time delivery, and we are committed to exceeding expectations,” said Tom Thrasher, vice president and leader of Gilbane’s Florida business unit Building Co., in the statement.
With this win, Gilbane adds another tower project to its 2023 portfolio. In July, Northwestern Mutual tapped the contractor for $500 million office renovation at the company’s Milwaukee location and in May completed NMS La Jollaa $125 million mixed-use tower in Los Angeles.
