Today is the 30th of April, 2026, and exciting developments are unfolding in West Palm Beach, particularly in the historical El Cid District. An older shopping center located on Belvedere Road, just south of downtown, has been sold for a notable price of $11.4 million. This sale marks a significant increase of over 50% from its previous sale four years ago. The new owner, Casey Klein, a resident of El Cid and managing partner at Third Frontier Capital, is looking to breathe new life into the property.
The shopping center boasts a spacious 15,000 square feet and sits at the northeastern corner of Belvedere Road and Dixie Highway. Despite its nearly 90-year history, Klein plans to keep the shopping center unchanged for the time being as he focuses on attracting new tenants. He envisions the center, now referred to as Belvedere Plaza, as a high-end, neighborhood-oriented retail destination.
Plans for Belvedere Plaza
While there are no immediate plans for major renovations, it’s noteworthy that Klein previously submitted plans to the city of West Palm Beach to demolish the existing center and construct an eight-story mixed-use building featuring 32 apartments and over 4,000 square feet of commercial space. However, he has decided not to pursue this project at this time, although he might reconsider in the future. Klein praised the location of the project in El Cid, which he considers one of the best neighborhoods in Palm Beach County.
The shopping center’s previous owner, a subsidiary of the Frisbie Group, acquired the property for $6.8 million in 2022. They proposed a mixed-use project with condominiums, which led to the eviction of several tenants, including the popular restaurants Sushi Jo and Jo Bistro. However, after local residents protested against the height and design of the proposed project, the Frisbie Group withdrew their building application.
In 2024, a significant legal battle arose when Kitchen, a restaurant operated by Matthew Byrne, the former chef for Tiger Woods, and his wife Aliza, sued the Frisbie Group to enforce their lease until 2028. Fortunately for them, a judge from the Palm Beach County Circuit Court ruled in favor of Kitchen, allowing them to remain in the center.
Real Estate Landscape in El Cid
The El Cid District is not just experiencing changes in commercial real estate, but the residential market is also quite vibrant. This area features an array of luxurious residential offerings. For example, a stunning single-family home near the Intracoastal Waterway is currently on the market for €5,551,900, boasting 5 bedrooms, 4 bathrooms, and a spacious 435 square meters. Another incredible option is a €6,197,300 home designed by architect Kristin Kellogg, offering 6 bedrooms and 5 bathrooms across 567 square meters.
Luxury apartments are also available, including a remarkable property priced at €5,876,700, complete with high ceilings and generous living spaces. For those seeking something even more spacious, a €5,727,200 fully renovated townhouse offers 9 bedrooms and 5 bathrooms, combining the amenities of a luxury condominium with the charm of a historical residence.
As developments continue in both commercial and residential sectors, West Palm Beach is solidifying its reputation as a desirable location for living and business. If you’re interested in exploring the current real estate market, you can find more details on listings through BeachesMLS.
For those who appreciate high-end living, West Palm Beach has a wealth of options, including a luxurious home priced at €8,377,000, featuring 6 bedrooms, 5.2 bathrooms, and stunning Mediterranean style. This property, complete with a garage, pool cabana, and a guest suite, is presented by Nest Seekers LLC.
As we witness these changes unfold, the El Cid District remains a focal point of interest for both residents and investors alike. Stay tuned for more updates on this evolving landscape!