Wednesday, Nov. 17, 2004 | 11:12 a.m.
Palm Beach Resort Condominiums LLC expects to begin construction today on a 756-unit condominium project at the southwest corner of Las Vegas Boulevard and Serene Avenue. A ceremonial ground breaking was scheduled for later this morning.
The company is led by Las Vegans Franklin McKnight, Stewart Simpson and Jerry Peterson. Before forming Palm Beach Resort Condominiums, McKnight and Simpson worked at UPA Resort Construction Group, which is constructing the condominium complex.
Phase one of the $400 million project is scheduled for completion in February 2006, with 173 units. The completed project will consist of four seven-story buildings. Prices are expected to start at $200,000 and reach into "the millions," developers said. A two-story underground parking garage also is planned.
The Boca Raton condo project is the first local project for Palm Beach Resort Condominiums. If successful, four more similar developments are planned, a spokesman for the company said.