The project, which has had no trouble getting necessary approvals thus far, would be built in two phases, separated by State Road A1A, according to plans filed with the city.
Phase I, consisting of the 250-unit Ocean Palms Condominium, would be built on the five-acre east, oceanfront property at 3101 S. Ocean Drive. The building would be built in three tiers: 38 stories, 35 stories and 32 stories. Condo unit prices would start at $450,000.
According to the developer's application to the city, the value of improvement for Phase I is $75 million.
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