Harbourside Place Recognized As 'Project Of the Year' For Promoting Economic, Community Development

by Lyssa Goldberg Sep 01, 2015 06:33 AM

Harbourside Place Recognized As 'Project Of the Year' For Promoting Economic, Community Development

Harbourside Place, Jupiter's waterfront entertainment destination, has been recognized for its role in promoting economic and community development in Jupiter and across Palm Beach County.

The mixed-use development, which opened last fall, was named the Urban Land Institute's Southeast Florida/Caribbean Project of the Year at its 2015 Vision Awards ceremony on Aug. 26.

The Urban Land Institute works to support responsible use of land and the creation of sustainable communities. ULI recognized Harbourside Place as the private sector Project of the Year, alongside the new Frost Music Studios at the University of Miami, which earned the public sector award.

The two projects won out over three other finalists: New River Yacht Club in Fort Lauderdale, Royal Caribbean Production Studio at Florida International University and Vagabond Hotel in Miami.

In brochures given at the awards ceremony, ULI described Harbourside as follows: "Combining a Wyndham Grand hotel and Class A office space with restaurants, retail, a marina, an outdoor amphitheater and plenty of parking, this 9-acre, multi-use project also partners with numerous non-profits through inventive community service projects to create a true downtown destination. Two-, four- and five-story buildings reflect a rich mixture of massing, color and detailing." 

Harbourside Place was originally envisioned by its developer in 2005, but the project's site plan was pulled in 2008, as the economy entered into a recession.

However, Nicholas Mastroianni II, president and CEO of Allied Capital and Development of South Florida, pushed the development effort forward. He secured alternative financing through the EB-5 visa program, which allows immigrants to obtain a green card by investing money into U.S. projects that create or preserve jobs. Construction then began in 2012.

The Vision Awards committee was impressed with the way Harbourside's developer was able to successfully complete the project in the midst of a recession, according to Julie Medley, executive director of ULI's Southeast Florida/Caribbean division.

"It took a lot of initiative to go through with it," she said.

Medley added that Harbourside Place has created a vibrant downtown, where people can work, stay in a hotel, dine and more.

"It's the first of its kind for that part of Jupiter," she said.


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