Most developers chase deals. Smart investors chase scarcity.
The Huizenga family and Integra Investments just secured planning board approval for their $2 billion mixed-use development at Safe Harbor Rybovich Marina in West Palm Beach. On the surface, it looks like another luxury project in a hot market.
Look deeper. This reveals everything about where wealth is actually moving.
The Scarcity Factor Most People Miss
"You're not going to find a 19-acre private property with waterfront that you see here today," according to the development team. They're right.
Waterfront parcels of this scale simply don't exist anymore along South Florida's Intracoastal Waterway. Developers compete intensely for much smaller sites.
This project represents something rarer than most realize. Large-scale waterfront development opportunities in prime locations have become extinct. When one surfaces, it signals where sophisticated capital sees the future.
The numbers support this thesis. Palm Beach County recorded 132 sales of homes worth more than $10 million in 2024, marking a 21.1% year-over-year increase.
That's not gradual growth. That's structural demand shift.
The momentum has accelerated into 2025. Miami-Dade alone recorded 28 sales of single-family homes priced over $3,000 per square foot from January to July 2025, representing a massive 115% jump from 2024. Before the pandemic in 2019, there were zero sales in this ultra-luxury bracket.
What the $61,000 Square Foot Club Really Means
The updated plans include a nearly 61,000-square-foot private club primarily for residents, with allowance for 250 non-resident memberships. Most coverage focuses on the amenity aspect.
I see something different. This responds to a specific problem wealthy individuals face in Palm Beach County.
Exclusive club waiting lists extend for years. The demand for private spaces where ultra-high-net-worth individuals can conduct business and socialize has exploded since the pandemic wealth migration.
This club isn't just an amenity. It's infrastructure for a new economic ecosystem.
When developers dedicate 61,000 square feet to exclusive club space, they're betting on sustained population growth among the wealthiest demographics. They're creating the social infrastructure these residents require.
The Medical Diagnosis of Market Demand
My background as a former physician taught me to look for underlying conditions, not just surface symptoms. The symptoms here are obvious: $2 billion investment, 660 luxury units, prime waterfront location.
The underlying condition is more interesting.
Palm Beach recorded 10 ultra-luxury sales exceeding $49 million in 2024, including record-breaking deals of $150 million on Tarpon Island and $148 million on North County Road.
These aren't isolated transactions. They represent systematic wealth reallocation.
The Rybovich development responds to this diagnosed condition. It provides the supply infrastructure for sustained ultra-luxury demand. The scale matches the scale of wealth migration we're witnessing.
The current trajectory validates this diagnosis. H. Wayne Huizenga Jr.'s own nearby waterfront property, purchased for $5 million in 2018, now carries a county estimated market value of $26.6 million. That's extraordinary appreciation in a market where sophisticated investors understand waterfront scarcity.
Why Timing Matters for Qualified Investors
This project joins over 2,000 residential units currently planned for West Palm Beach. Some see oversupply risk. I see market maturation.
The difference lies in understanding buyer profiles. These aren't speculative purchases or seasonal homes. They're primary residence decisions by individuals establishing permanent Florida presence.
The development team brings together the Huizenga family's marina ownership, Integra Investments' development expertise, and architecture from Kohn Pedersen Fox, known for Hudson Yards in New York City. This combination signals institutional-level confidence in long-term demand.
For qualified investors, timing creates opportunity. Pre-construction luxury developments offer access before general market availability. The Rybovich project represents exactly the type of exclusive opportunity sophisticated buyers seek.
The Broader Investment Thesis
This development validates what I've observed working with high-net-worth clients seeking premium South Florida properties. The pandemic accelerated a structural shift from seasonal destination to year-round luxury community.
The inclusion of substantial commercial space alongside residential units indicates a vision for creating self-contained luxury districts. This model increasingly dominates high-end real estate development nationwide.
Smart investors recognize these patterns before they become obvious. The Rybovich development offers a case study in how scarcity, exclusivity, and strategic location converge to create lasting value.
The question isn't whether this project will succeed. The question is whether qualified investors will secure access before the general market recognizes what's happening.
For those ready to explore similar opportunities, the time to act is while exclusive access remains available to qualified investors.
