Tuttle Royale Is Gone. Concord Wilshire Just Bought It for $60 Million. Here’s What It Means for Royal Palm Beach.
After years of empty promises, a foreclosure battle, and a bankruptcy court showdown, the 43-acre site at US-441 and Southern Boulevard has a new owner and a real development plan. Here’s the full story — and what it means for property values in the surrounding neighborhoods.
On April 16, 2026, Los Angeles-based Concord Wilshire Capital closed on 43 acres at the southwest corner of US-441 and Southern Boulevard in Royal Palm Beach for $60 million, purchasing the site out of bankruptcy court. Developer Brian Tuttle lost control of the property after Fuse Group won a $47.4 million foreclosure judgment on $38.4 million in unpaid loans. Concord Wilshire’s plan: 401 apartments, a 125-key hotel, 426,800 square feet of retail, and 82,900 square feet of office space. Permits and early construction preparation are now underway.
I’ve been watching this corner for years. The Tuttle Royale site has been a chain-link fence and a dirt field for as long as most people in west county can remember. A lot of promises were made about what it was going to become. Now, for the first time, there’s a real developer, a real purchase, and a real plan. Here’s what actually happened and what it means if you own or are buying in Royal Palm Beach.
How We Got Here: The Full Timeline
Years Prior — Original Vision
Brian Tuttle, known for entitling and selling sites to developers, attempted his first ground-up development at the corner of US-441 and Southern Boulevard. The project was marketed as “Main Street at Tuttle Royale” — pitched as Royal Palm Beach’s version of CityPlace. Plans called for hundreds of apartments, a hotel, hundreds of thousands of square feet of retail and office. The site sat as a dirt field while plans were marketed to potential retail tenants and residents.
2024 — Foreclosure Filed
Fort Lauderdale-based lender Fuse Group, led by Eyal Peretz, filed a foreclosure lawsuit alleging Tuttle defaulted on three loans totaling $38.4 million. Fuse won a final foreclosure judgment of $47.4 million (including accrued interest and fees). A foreclosure auction was scheduled for September 24, 2024.
September 23, 2024 — Chapter 11 Filed
The day before the scheduled foreclosure auction, Tuttle’s entities filed for Chapter 11 bankruptcy protection in Miami federal court, stopping the auction. The case moved into bankruptcy reorganization proceedings.
January 2026 — Two Buyers Emerge
Bankruptcy Judge Erik Kimball approved a reorganization plan with two possible paths: Track 1 was a $60 million sale to LA-based Concord Wilshire Capital, led by Nate Sirang. Track 2 was a backup sale to Atlanta-based Ardent Companies if Concord failed to close. Under the Ardent deal, Tuttle would have retained an equity interest in the property.
April 6, 2026 — Concord Sues Tuttle
Concord Wilshire sued Tuttle and his affiliates in bankruptcy court, alleging Tuttle was conspiring to steer the deal to Ardent — the backup buyer under which Tuttle could keep equity. Concord alleged that its partner ECI Group, responsible for $12 million of the $60 million price, had secretly partnered with Ardent. Judge Kimball ordered the deal to close by Thursday.
April 16, 2026 — Sale Closes
Concord Wilshire closed on the 43 acres for $60 million per court order. Brian Tuttle told The Real Deal he would not attempt to claw the property back and wished Concord “the best of luck.” The site is being rebranded. Concord immediately began preparing permits and early construction work.
What Concord Wilshire Is Building
Concord Wilshire, a Los Angeles-based development firm, has outlined a large-scale mixed-use community for the 43-acre site. The plan as publicly described:
- 401 multifamily apartments
- 125-key hotel
- 426,800 square feet of retail space
- 82,900 square feet of office
- 3,435 parking spaces (from original entitlements)
Concord has described the vision as “a thoughtfully designed, mixed-use community that will create a true sense of place, generate meaningful economic activity, and serve as a long-term asset for Royal Palm Beach and the broader region.” They are actively seeking development partners. The 43-acre parcel is part of the larger 200-acre Tuttle Royale master plan area.
The project name “Main Street at Tuttle Royale” has been retired. A new brand for the development has not yet been publicly announced.
What This Means for Royal Palm Beach Property Values
This corner has been a drag on the surrounding area for years. Not because it was blighted, but because the potential was always there and never materialized. A chain-link fence on 43 acres at one of the highest-traffic intersections in western Palm Beach County — the corner of US-441 and Southern Boulevard — creates uncertainty. Buyers wonder what’s coming. Sellers can’t point to it as an asset.
That calculus changes with a funded, motivated buyer who closed through a bankruptcy court. Concord Wilshire didn’t buy this to hold it. They have a $60 million acquisition cost plus future development capital at stake. They are moving toward permits and early construction. That’s different from the years of promises that preceded it.
What it means practically:
- New retail and restaurants at US-441 and Southern Blvd within the next several years
- Hotel adding hospitality capacity to western Palm Beach County
- 401 new apartment units creating additional housing supply in the corridor
- Office component serving professional tenants who currently commute east to Wellington or Palm Beach Gardens
- Increased foot traffic and commercial tax base for Royal Palm Beach
For homeowners within a mile or two of this site — particularly in communities along Southern Boulevard and those off US-441 — this development adds a destination anchor to a corridor that has lacked one. That kind of commercial development tends to support residential values over time, particularly in western markets where amenity density has historically lagged the eastern side of the county.
Who Is Concord Wilshire?
Concord Wilshire Capital is a Los Angeles-based real estate development and investment firm. Nate Sirang is president. Bromley Kelly is the managing director of construction. The firm described this acquisition as the next step in “delivering a thoughtfully designed, mixed-use community” and stated they are “fully engaged” in the project.
The firm is actively seeking development partners for the various components of the project — the retail, hotel, residential, and office pieces. That’s a normal structure for a project of this scale and doesn’t signal any uncertainty about moving forward.
Frequently Asked Questions
Is the Tuttle Royale development going to actually get built this time? +
What happened to Brian Tuttle? +
How does this affect homes near US-441 and Southern Boulevard in Royal Palm Beach? +
When will construction start? +
Is the 43 acres the entire Tuttle Royale site? +
Thinking About Royal Palm Beach?
I’ve sold homes in this market for 28 years. I know every street, every community, and I watch every development that affects values. If you’re buying or selling in Royal Palm Beach, call me.
Call 561-201-4717 or browse Royal Palm Beach listings.
Brian Wilder
The Wilder Real Estate Group at Keller Williams Wellington
In business since 1996 — over 1,500 homes sold across Palm Beach County
561-201-4717 — palmbeachcountyhomeforsale.com