Award: Olara Residences
Location: West Palm Beach, Florida
Gilbane Building Co. and New York City’s SavCon will lead preconstruction and construction management services for the Olara Residences in West Palm Beach, Florida, Gilbane announced on Sept. 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 condominiums and 210 leased apartments, according to the release. According to a local realtor, the condominiums start at $2 million.
The current design includes a private marina, concierge service, and a terraced fitness and wellness center featuring a traditional Japanese onsen, per the release. Additional amenities include a clubroom, a leisure pool, and a lap pool surrounded by private cabanas.
“Given the scale of this project, we recognize the importance of precise scheduling and timely delivery, and we are committed to surpassing expectations," said Tom Thrasher, the vice president and Florida business unit leader at Gilbane Building Co., in the release.
With this win, Gilbane adds another tower project to its 2023 portfolio. In July, Northwestern Mutual tapped the contractor for a $500M office rehab at the company’s Milwaukee location, and in May, it completed NMS La Jolla, a $125 million mixed-use tower in Los Angeles.