A homebuilder says it's planning a development of 100 single-family homes near the waterfront in West Palm Beach, Florida, in the first phase of a multibillion-dollar revitalization in partnership with a company founded by one-time business and sports mogul H. Wayne Huizenga.
GL Homes' The Estates at NOMAR is situated in the historic Northwood neighborhood, located between 40th and 45th streets along Flagler Drive, across from the Intracoastal Waterway. Home prices will start at $1.5 million, and sales are expected to begin early next year, the company said.
NOMAR is an acronym for Northwood Marina Quarter, an urban village that will ultimately include luxury waterfront condos, shops and restaurants, anchored by the Safe Harbor Rybovich mega-yacht marina.
Huizenga Holdings owns the lots as part of a "significant land portfolio" in the city and brought in GL last year to build the homes, the homebuilder said.
Northwood was once a run-down neighborhood that has undergone a dramatic renaissance in recent years. It features early 20th-century architecture, rentals and renovated "Old Florida" residences, according to Homes.com.
The NOMAR homes will range from approximately 1,800 to nearly 4,000 square feet, featuring high-end finishes and options for home offices or guest suites, GL said. Four model homes are currently under construction and are scheduled to be completed in the first quarter of 2026. The builder is compiling a list of prospective buyers.
Huizenga once major figure in South Florida
Wayne Huizenga created three Fortune 500 companies: Waste Management, Blockbuster Video and AutoNation. He also led the effort to bring MLB and NHL expansion franchises to South Florida in the 1990s and acquired a majority stake in the NFL's Miami Dolphins, becoming the first person ever to own three major pro sports franchises.
Forbes magazine reported Huizenga's net worth as $2.8 billion in 2017; he passed away the following year at the age of 80.
The Estates at NOMAR "blends modern luxury, waterside living, and the energy of an evolving West Palm Beach,” said Misha Ezratti, president of GL, in a statement.
Developer Stephen Ross, the current owner of the Dolphins, has recently turned his attention to West Palm Beach.
Ross previously told Homes.com affiliate CoStar News that he has billions of dollars' worth of development underway with plans to help the city become one of the "greatest places in this country."
GL, based in Sunrise, Florida, ranks as the nation's 23rd-largest privately held homebuilder based on 1,891 sales last year, according to Builder magazine.