By Alexandra Clough – Palm Beach Post Staff Writer
Perhaps the third time will be the charm.
Kolter once again has renamed a residential building planned for downtown West Palm Beach.
First, the property at 333 Fern Street was known as Isis Downtown, a name derived from the Egyptian goddess.
But Isis was was disposed of after the murderous terrorist group known as the Islamic State in Iraq and Syria started rampaging its way across the Middle East last summer.”We quit spending money the minute the ISIS thing happened. We knew we had a very unique problem,” said Bob Vail, president of Kolter Urban in West Palm Beach.
Then the project became 3 Thirty Three Downtown, the site’s address. The name was safe, if boring, and didn’t convey much information about the project, other than its location.
Now, the apartment property will be known as The Alexander, a nod to its neighboring property, Alexander Lofts. The Lofts is an 85 unit-project that’s already 50 percent leased, even though the property was just finished.
Meanwhile, The Alexander is planned to be 210 apartments in a modern-style building. It will also provide garage parking for Alexander Lofts, a former office building converted into loft-style apartments by Ram of Palm Beach Gardens.
The Alexander is a joint venture with Ram, and since the buildings share amenities, it made sense to take the name and “brand the whole project,” said Hugo Pacanins, managing director/multifamily for Ram Realty Services.
The 16-story building will break ground in August, with completion set for the summer of 2017.
Units range from 825 square feet to 1,700 square feet.
When completed, the property will be the largest new high-rise apartment coming out of the ground in West Palm Beach, Pacanins said.
Alexandra Clough writes about the economy, real estate and the law.