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elcome to The Dirt! I'm Kimberly Miller, your go-to reporter for all things real estate, weather, and critters in Palm Beach County. Let's dive into the latest developments.
The Warehouse District in West Palm Beach is getting a refresh with new design and furniture stores opening up to cater to the influx of wealth in the area. The food court is out for now, but don't worry, axe-throwing enthusiasts - Game of Axes has been replaced by Bindu Yoga & Wellness. Yes, you read that right - an axe-throwing bar was a thing here.
In other real estate news, a historic home that's been moved around West Palm Beach like a relic from the past has finally found new owners who appreciate its unique history and architecture. The Riddle House, once home to West Palm Beach's first city manager Karl Riddle, sold for $1.3 million after being listed for $2.52 million.
But not all historic homes are so lucky - a 1930s-era lakefront estate in Palm Beach designed by John L. Volk is likely headed for the chopping block after selling for a record-breaking $86.5 million. The new owner, a secret trust, has already gotten approval from the Palm Beach Architectural Commission to tear it down and build a new mansion.
Taxable property values in Palm Beach County are up nearly 8% year over year, but that's actually the lowest increase since the pandemic. Boca Raton takes the top spot with taxable values of $40.1 billion, followed by Palm Beach at $34.3 billion, and West Palm Beach at $25.4 billion.
That's all for now - stay tuned for more real estate news and updates from The Dirt!
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Warehouse District in West Palm Beach Undergoes Revamp, New Yoga Studio to Open
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