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Richard Born is among New York City’s biggest hotel owners. One of the lessons he learned during the Covid-19 pandemic, when his properties were shut down for months, was a need to diversify his business.
Now…Mr. Born is an investor in a 2-million-square-foot project in West Palm Beach, Fla., that will feature a hotel, rental apartments, condominiums, retail and office buildings.
Mr. Born is working in partnership with Florida developer Place Projects and NDT Development, a real estate and hospitality company based in West Palm Beach. Their project will rise in the city’s Nora district, which for decades was largely a collection of warehouses near a railway station. Wheelock Street Capital LLC is providing financing and is a general partner in the development…