The Berkeley Palm Beach has broken ground on a 25-story residential tower at 550 S. Australian Avenue in West Palm Beach, the developer announced via Instagram. The project, which comprises 193 luxury residences, has already surpassed $100 million in presales, with homes reportedly priced between $2 million and $10 million.
The groundbreaking marks one of the more substantial residential commits on the Australian Avenue corridor, a stretch that has drawn increasing developer attention as Palm Beach County's downtown West Palm Beach core absorbs demand pressure from a relocated and expanded financial-services workforce. The tower's 25-story profile would make it a visible addition to the West Palm skyline at the southern end of the avenue.
Per the operator's Instagram post, the development is designed around resort-style amenities, though specific program details — fitness facilities, pool configuration, concierge services, or branded residences — were not disclosed in the announcement. No architect, interior designer, or general contractor was named in the source material.
The $100 million presales figure, if accurate, signals that buyer demand at the upper end of the Palm Beach County residential market has not softened materially despite rising carrying costs. Units priced from $2 million to $10 million place The Berkeley squarely in competition with a handful of comparable towers either recently delivered or under construction along the Intracoastal and within the downtown West Palm core — a segment that has attracted New York and Miami buyers seeking a less congested alternative to both markets.
No confirmed delivery date was included in the Instagram announcement. Construction timelines for towers of this height in South Florida typically run 24 to 36 months from groundbreaking, suggesting a potential completion window in the 2027–2028 range, though no such date has been announced by the developer. The prior use or ownership history of the 550 S. Australian site was not disclosed in the source.
The groundbreaking comes as West Palm Beach's residential pipeline continues to fill in blocks south and west of Clematis Street, areas that a decade ago held surface parking and low-density commercial uses. How quickly The Berkeley delivers its first closings — and at what final price per square foot — will be a useful data point for the half-dozen other luxury residential projects circling the same buyer pool in Palm Beach County.
