Olara, the Resort Rising on the West Palm Beach Waterfront

Three Decades in Manhattan, Then This

Savanna was founded in New York in 1992 by Christopher Schlank and Nicholas Bienstock. Over thirty years the firm has invested in and developed more than 17 million square feet, primarily across New York City's five boroughs. Its record runs mostly to Manhattan office and mixed use buildings. Olara is the firm's first project in South Florida, and the firm chose a four acre waterfront site over a downtown one. Both facts shape what is going up.

The capital is institutional. Savanna closed construction financing in March 2025, in a loan reported at $380 million. The lender group includes Zeckendorf Development, Sculptor Real Estate, One Investment Management and Octo Capital. The Mactaggart Family Partnership, a family investor with more than a century in real estate, is a capital partner. SavCon and Gilbane hold the construction contract, and Compass Development Marketing Group runs sales for the developer.

The design team is easier to place locally. Arquitectonica drew the building under founder Bernardo Fort-Brescia, with floor plates set to hold water views on more than one side. The same firm is designing The Berkeley near downtown. Gabellini Sheppard Associates designed the interiors, and EDSA the waterfront gardens.

A Residential Tower Run Like a Resort

The concept is service at a scale condominiums rarely attempt. Nearly 80,000 square feet of amenity space fills the base and the deck, and the developer hired operators rather than promising owners would figure it out. Arch Amenities Group, the operator behind the Baccarat residences in New York and the Eau Spa in Manalapan, manages the program year round. The wellness floors carry 13,000 square feet of fitness space designed with The Wright Fit, plus a Japanese style onsen, cold plunge pools and meditation rooms. A Sollis Health membership puts medical concierge care in the building.

The restaurant is the headline hire. José Andrés takes 8,500 square feet on the water for his first restaurant in the Palm Beaches, open to the public, with priority reservations and in-residence dining for owners. His team will also run food service across the amenity spaces. A private marina with six slips sits at the seawall, and a full building generator serves every residence, which matters on a coast that loses power in storms.

The homes themselves run from about 1,500 to more than 4,200 square feet, from two bedroom plus den plans up to penthouses with private rooftops. A second tower behind the condominium holds the rental apartments, which keeps leases out of the owners' building. The chart below holds the three published categories.

Past the Two-Thirds Mark

Construction began in March 2024, and the dock went in first. Vertical work reached the podium in late 2025, and the developer's site this month reports concrete at the 18th floor of the planned 26. Delivery is expected in 2028. The usual caution applies to every date on a construction schedule, and the purchase contract's outside date matters more than the marketed year. Still, a buyer here is no longer judging a rendering. The building exists, and its remaining risk is finish and schedule rather than whether a tower rises at all.

What the Money Buys Before Delivery

Savanna prices from a stated $1.7 million, which opened below the corridor's other new towers. Two bedroom plus den plans of roughly 1,500 square feet are the entry tier. Every published number at this stage is an asking price. Closings begin at delivery, so nothing has been recorded and no resale ledger exists to check the pricing against.

One residence is on the multiple listing service (MLS) this week. Residence 911, a three bedroom of 2,358 square feet, asks $3.37 million. Developer inventory and early resales move quietly at this stage, so the public feed understates what can be bought. Two open questions belong on any buyer's checklist. Association fees are not final while sales run, and the declaration that will set rental rules has not been published. Our companion guide, Before You Buy at Olara, covers the contract and the review window in detail.

The North Waterfront Fills In

Three other projects define the waterfront around the site, and the four make more sense read together. Two blocks south at 1745 North Flagler, the Ritz-Carlton Residences offers 138 branded homes asking from $3 million, also for 2028. Alba, north at 4714 in Northwood, delivered first. Closings have begun there, and its page counts eight recorded sales in the trailing twelve months. Farther up the water, above the Lake Park marina, Nautilus 220 opened in March 2026, more than ninety percent sold. Its first resales have recorded between $1.28 million and $3 million.

Read the bases carefully when comparing. Olara and the Ritz-Carlton project quote asking prices for unfinished buildings, while Alba and Nautilus 220 now have recorded closings. Our county development map puts the whole field on one page, our study of the district projects compares the formats, and the pipeline page tracks every delivery. The West Palm Beach guide covers the city around them.