Mr. C Tower Hits 16th Floor in Downtown West Palm Beach

Terra and Sympatico Real Estate’s 27-story Mr. C Hotel and Residences has reached roughly the 16th floor at 320 Lakeview Ave in downtown West Palm Beach, with KAST Construction pouring a reinforced concrete superstructure now past the halfway mark and glazing going up on the lower podium floors. The developers are targeting 2027 for completion of the 256-key tower, split between 110 hotel suites and 146 branded residences under the Cipriani family’s Mr. C Hotels brand.

Why it matters

For construction firms and general contractors tracking the South Florida pipeline, Mr. C is one of the tallest towers actively rising in downtown West Palm Beach, and its pace is a real-time read on how fast a concrete crew can move on a dense urban infill site. The City of West Palm Beach issued the project’s master building permit, number 23120049-COM-BLDG, on December 9, 2025, nearly two years after it was first applied for in December 2023, a gap the permit record ties to its private-provider plan review track. Reaching the 16th floor about eight months after that issue date works out to close to two floors a month, a pace that would carry the structure to its full height well inside the 2027 delivery window if it holds.

The numbers

The permit lists a declared construction valuation of $120 million across 600,000 square feet, a figure The American Developer pulled from the city’s own record rather than a press release. That works out to $200 a square foot and, spread across the tower’s 256 keys, roughly $469,000 per key, both numbers this newsroom calculated from the raw filing. That valuation sits well below the $285 million construction loan TYKO Capital provided in August 2025, a gap that reflects the loan covering land, soft costs and reserves the permit’s declared value does not capture. KAST Construction is listed as contractor of record, and Lakeview Hospitality Investments LLC, an entity tied to Terra CEO David Martin, is the permit’s owner of record.

What’s next

Watch for the concrete structure to top out by early 2027 if the current pace holds, followed by glazing up the tower’s full height and interior buildout of the hotel and residential floors. Douglas Elliman is handling residential sales, which were more than 85% complete as of July 2026, leaving lease-up of the Mr. C-branded hotel rooms as the main commercial unknown heading into next year.