Allen Morris Buys West Palm Beach Development Site
The firm acquired a 1.4-acre property for $16.8 million to develop a new 315-unit multifamily apartment complex.
Updated on Oct. 20, 2026 in Commercial
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The Allen Morris Company purchased a development site at 1830 North Dixie Highway in West Palm Beach for $16.8 million from Savanna. The two firms are now partnering to develop a planned 315-unit apartment project on the land.
Why it matters
The deal signals continued investment in West Palm Beach residential infrastructure, where average monthly apartment rents currently sit at $2,390. By acquiring the land and partnering with Savanna, Allen Morris aims to expand the city's housing stock.
The 1.4-acre property was purchased for approximately $12 million per acre, or $266 per square foot. The site currently houses a mix of medical, office, and multifamily buildings alongside vacant commercial land.
The players
The Allen Morris Company
A real estate development firm based in Coral Gables that manages major residential and commercial projects.
Savanna
A New York-based real estate investment manager and developer with an active portfolio in Florida.
Oppenheim Architecture
A Miami-based design firm known for developing modern architectural concepts for large-scale real estate projects.
The details
Allen Morris will serve as the managing member and lead developer, working with Oppenheim Architecture to finalize designs for the 315 units. The developers plan to seek revised entitlements to move forward with the apartment complex.
Timeline
Savanna acquired the various site parcels between 2022 and 2023.
The sale of the site to The Allen Morris Company was announced on October 20, 2026.
Culture Shift
The project reflects a broader move toward densification in urban cores as developers capitalize on high rental demand. This shift aligns with the West Palm Beach apartment market's average monthly rent of $2,390, underscoring the shift toward purpose-built multifamily housing.
Local residents should anticipate future construction activity at the 1830 North Dixie Highway site as the project moves through the entitlement process. The development may eventually provide additional housing options in a market currently averaging $2,390 in monthly rent.
The takeaway
Developers are betting on the long-term growth of the West Palm Beach residential market through new density projects. Prospective renters should watch for updates on unit pricing and project completion as the city continues its transformation.
Further reading
For additional context on local development trends, visit West Palm Beach Commercial.
Source note: This article includes information reported by The Real Deal New York.
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