June 2025 | Mike Vogel
The Town of Palm Beach certainly has the wealth to support live theater, but the show has not gone on since the Royal Poinciana Playhouse closed in 2004.
The playhouse shell overlooks the Intracoastal in the Royal Poinciana Plaza, a luxury retail center designed by John Volk, architect to Fords, duPonts and Vanderbilts.
The playhouse began as a producing theater, then switched to touring shows. Newer and better venues — the Kravis Center across the water in West Palm Beach, for one — rose up and the playhouse foundered.
It resurfaces later this year as Glazer Hall theater and cultural arts center with $15 million in backing from Jill and Avie Glazer. Cultural events will include dance, film, music and lectures. “The Royal Poinciana Playhouse has languished in the dark for far too long,” says Avie Glazer. He and Jill are Glazer Hall co-founders and co-chairs. The Glazer family owns the Tampa Bay Buccaneers and Manchester United and has lived on Palm Beach since 2002.
Breakthrough
- Herbert Wertheim UF Scripps spinoff Myosin Therapeutics in Jupiter won $3 million in funding for clinical trials for its medications for rare brain cancer and methamphetamine addiction. Investors are DeepWork Capital, Florida Opportunity Fund, Mint12 Pharma, Mayo Clinic Ventures and Sontage Innovation Fund.
REAL ESTATE
- Luxury residential towers continue to penetrate into the Fort Lauderdale market as Miamibased Integra Investments plans 76-unit Sereno Fort Lauderdale off Sunrise Boulevard. Co-developed with Flying Point and scheduled for completion in 2028, Sereno units start at $1.4 million and range from 1,070 to 2,380 square feet.
- Seville General Partners, owner of an 8.5-acre mobile home park in Hallandale Beach, has petitioned the city to rezone the site to allow up to 750 residential units.
- The owner of the 400-slip Banyan Bay Marine Center in Dania Beach wants to fill the water basin connecting to the Dania Cut-Off Canal to build 169,286 square feet of warehouses. An affiliate of Constellation Real Estate Partners wants to buy and develop the site.
- Coral Springs-based White Oak Development paid $11.4 million for 4 acres in Davie where it plans 286 apartments.
- Boca Raton-based homeowners association services company Grant Property Management acquired on undisclosed terms Tamarac-based Consolidated Community Management and the 90 HOAs it managed, taking Grant to 200 homeowners associations in Broward and Palm Beach counties.
- Margate, a Broward city, picked New York-based Brookfield Partners to lead creation of its long-envisioned, never-born downtown on 45 acres at the junction of State Road 7 and Margate Boulevard. The city and Brookfield still must finalize terms.
RETAIL
- Car dealer Champion Porsche is building a new showroom and parking deck at a site in Pompano Beach.
“We believe our company faces an unprecedented opportunity at this time to play a role in supporting President Trump’s new administration policy.” — George Zoley, executive chairman, private prison and detention company GEO Group, Boca Raton, in a February earnings call.
FINANCE
- Wellington-based Bainbridge Cos. closed on $150 million in commitments as it works toward raising $250 million for a multifamily acquisition fund. Its targets are 1990s and newer multifamily properties in the Sun Belt and Mid-Atlantic markets. Bainbridge has developed or acquired some 43,000 apartments in $8 billion in deals since it was founded in 1997.
LAYOFFS
- AT&T laid off 88 in Sunrise.
- The Memorial Healthcare System laid off 66.
- FirstService Residential in Dania Beach outsourced its call centers in Dania Beach and Las Vegas, laying off 42 in Florida.
HEALTH CARE
- West Palm Beach-based private equity firm Clearlake Capital Group purchased from Warburg Pincus a majority stake in Boca Raton-based electronic health records and practice management company ModMed in a deal that valued the company at $5.3 billion.
‘Trashmore’ Expansion
- A majority of Broward County commissioners approved Waste Management’s plan to expand “Mount Trashmore” — the Monarch Hill Landfill in north Broward — by widening its base and making it taller. The landfill, permitted previously to a height of 225 feet, will now be authorized to reach 325 feet. It currently is 210 feet. Neighboring Coconut Creek vows litigation to stop the expansion. Monarch takes in about 5,000 tons per day of waste.