Gilbane, in partnership with Palm Beach Atlantic University (PBA), has reached financial close of a groundbreaking $240 million public-private partnership (P3) project that will help address the area’s need for more student housing.
This transformative initiative will bring a 25-story, mixed-use student housing residence hall with 275 apartments to the intersection of Acacia Road and Dixie Highway in downtown West Palm Beach. Approved by the Palm Beach County Board of Commissioners, the project is funded through bonds issued by Palm Beach County and secured by the project’s revenues, ensuring no taxpayer dollars are utilized.
Gilbane will lead the design, construction, and financing of the state-of-the-art mixed-use student housing development on land owned by PBA. The 319,000 SF tower is designed to meet the needs of the university’s expanding student population and will include 990 apartment-style beds across 275 units. Additional facilities such as a 28,000 SF dining hall, 14,000 SF fitness center and student recreation center, a 8.5-level parking garage with 704 spaces, and over 230 bike and e-bike stalls will enhance daily life on campus and contribute to a more connected, active community.
Urban Design Studio, Shutts & Bowen, and Kimley-Horn also played key roles in advancing the project, providing critical expertise in planning, land use, and traffic engineering that helped secure entitlements and shape the final design.
Construction is scheduled to begin in summer 2025, with completion targeted for August 2027, in time for the 2027-2028 academic year. Gilbane Development will serve as the project’s developer, Gilbane Building as the design-builder, and Cube3 as the lead architect. The design reflects the architectural character and vibrancy of downtown West Palm Beach.
“We are excited to partner with Palm Beach Atlantic University on this dynamic mixed-use student housing project. This project will mean more options for students and less pressure on the local housing market,” said Jeffrey Resetco, Senior Development Director at Gilbane Development. “At Gilbane, we are dedicated to creating state-of-the-art facilities that enrich the student experience. By offering modern amenities and additional housing options, we aim to support PBA’s growing student population while contributing to the vitality of downtown West Palm Beach.”
“The new residence hall will allow us to bring additional students back to campus housing and support a more unified student experience,” said Palm Beach Atlantic University President Dr. Debra A. Schwinn.. “This transformational project reflects our commitment to whole-person education and community engagement. Our investment in this enhanced campus environment meets the needs of our student body but is also strengthening our role as a partner in the flourishing downtown West Palm Beach, now known as Wall Street South.”
“Our team is excited to break ground this summer on a project that will enhance student life and contribute to the local community,” said Jason Sizemore, Area Leader for Gilbane Building. “As design-builder, we’re proud to bring this vision to life alongside Palm Beach Atlantic University, Gilbane Development, Cube3, and our trade partners – demonstrating the power of integrated development and construction expertise.”
Students will enjoy thoughtfully designed lounges catering to diverse needs, including a game lounge, multiple study areas, a wellness lounge, and a social lounge. These spaces are designed to support academic success, well-being, and connection, aligning with PBA’s master plan priorities of connectivity and sustainable development.
The garage, a vital component of the pedestrian-friendly infrastructure, will include ADA-compliant elevators and ramps, clearly marked crosswalks, and dedicated pathways to ensure accessibility and ease of use for students, staff, and community members. Smart parking technology and efficient traffic flow systems will minimize congestion and improve the downtown experience. The garage and tower will also contribute to the City’s goals of creating a connected, walkable, and visually cohesive urban environment, with features such as green walls, landscaped areas, and potential mixed-use elements like retail or public gathering spaces.
Gilbane, Inc., a private holding company with a more than 155-year history, is one of the oldest and largest family-owned construction, investment, and real estate development firms in the world. Gilbane Development is the project development, financing, and ownership arm of Gilbane, providing a full slate of real estate development and property management services. Gilbane Building is a full-service construction services firm providing preconstruction, general contracting, construction management, and design-build services on some of the nation’s most complex projects. Gilbane’s Public Private Partnership Group has delivered or has underway more than $4.4 billion in P3 projects for healthcare, higher education, K-12 schools, and federal/state/municipal clients.
Palm Beach Atlantic University, founded in 1968, is a private, Christian university, offering 100 different programs and pathways, including undergraduate degrees, graduate degrees and professional degrees. The university has two campuses in West Palm Beach, Florida—19-acres downtown and a 78-acre Marshall and Vera Lea Rinker Athletic Campus provides facilities for training and hosting intercollegiate sports. Sailfish athletes compete in 18 NCAA Division II and Sunshine State Conference varsity sports. PBA affirms the values that have built American society, including religious liberty and the free enterprise system. The university is dedicated to the integration of biblical principles to prepare students for learning, leadership, and service.
