Work has started on the Kolter Group’s project to build twin 19-story buildings on the Intracoastal Waterway called Water Club, across from the Benjamin School about a mile south of PGA Boulevard.
Plans for the seven-acre parcel include 74 condos in each building, which will have parking on the bottom floor.
Twenty townhouses are also planned on the east side of the property.
Plans call for Water Club to be a gated community.
A private dock on the Intracoastal Waterway for residents is planned.
Construction costs are expected to be about $70 million. Kolter bought the vacant 7 acres in 2004 for $23.5 million, according to Palm Beach County records.
The condos would likely sell for between $600,000 and $1 million, local Realtors said.
Water Club would not be the tallest buildings in the village. Marina Tower, Lake Point Tower, Old Port Cove East and Old PortCove West each are more than 20 stories.
Originally called Domani — tomorrow in Italian — Water Club has undergone several changes since first proposed in 2006. One plan called for a single tower. Another showed single-family homes.
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