West Palm Beach will be home to one of eight new Canopy by Hilton hotels.
Ground breaking is expected in May 2016, said Mike Diaz, Driftwood's chief operating officer.
Hilton Worldwide launched Canopy in October 2014, touting it as an energizing new neighborhood hotel concept. Each hotel will embrace local elements in its design and food and beverage.
The 150-room, 14-story Canopy hotel will be built about two blocks from CityPlace, West Palm Beach's downtown retail, dining and entertainment complex. It will be Driftwood's second hotel constructed through its EB-5 division, which allows foreigners to invest in new hotels.
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