Funding has been secured for the upcoming mixed-use development at 7 West Elm Street in the Gold Coast. Sitting on the corner with North State Street, the new high-rise will replace a two-story commercial structure which is currently being demolished. Efforts for the project are being led by developer Newcastle along with architecture firm Goettsch Partners.
Site context map of 7 W Elm St by Goettsch Partners
The current iteration of the project was revealed back in December 2025, after a previous iteration led by a different developer stalled. Said prior proposal called for a 345-foot-tall tower with an integrated parking garage and ground-floor retail. To keep in line with the previously approved zoning, the new plans downsized the tower with a new design scheme.
Rendering of 7 W Elm St by Goettsch Partners
The now 28-floor-tall structure will cap out at 312 feet in height and includes a four-story podium. While the ground floor will be fully activated with 24,000 square feet of retail space, the 132-vehicle parking garage above will be pronounced with a metal panel facade. The lower podium levels will be capped by a large outdoor space for residents.
Plans for 7 W Elm St by Goettsch Partners
The tower itself is made up of two interlocking square volumes, containing 304 residential units within. Of those, eight will be considered affordable, with the developer paying a fee for the remaining 23. Residents will have access to various amenities including a fitness center, pool deck, multiple terraces, and more.
Rendering of 7 W Elm St by Goettsch Partners
With a price tag of over $160 million, the developer has now secured a $162 million loan to kick off vertical construction later this fall, as foundation permits were also approved. General contractor W.E. O’Neil is set to perform the construction work, which is set to be completed in spring of 2028, with move-ins soon after.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Great, about time! Now let’s get that high rise moving forward next to Mario’s!
What about that Fern Hill development up on North. Is that ever moving forward?
Even though that one has been fully approved, we should probably do another dozen or so community meetings for it….. just to be safe.
That save old town website is genuinely hilarious. Imagine if those people directed their energy towards something actually productive.
The Fern Hill development is moving forward. Whole Foods will take over the Treasure Island space. Unclear if Walgreens will share space with them temporarily or move elsewhere.
The LA Fitness is close, so Walgreens could move in there while the residential tower is being built. Fern Hill recently won a court case that was brought against the development and everything should be complete within 5 years (according to Hopkins).
Considering the location this piece of land deserves a 50 to 60 floor development .
Considering the location those hideous metal screens are totally inappropriate
Considering the location if there must be parking out it underground .