October brings reports of new restaurant openings in West Palm Beach, a city now often called ‘Wall Street South.’ The term reflects the growing number of finance executives and business owners relocating from New York and other northern cities. On Thursday morning, construction crews were at work on Clematis Street, preparing space for a new steakhouse catering to this clientele.

Developers say demand for high-end dining has climbed since the start of the year. Rents in downtown West Palm Beach have risen, according to realtors, as restaurant groups from New York and Miami seek locations. Several operators cited an influx of private equity and hedge fund staff now living in the area full-time.

Menus are shifting to reflect the new residents’ preferences. At a recent lunch service, a maître d’ at a waterfront brasserie noted the uptick in requests for Burgundy wines and dry-aged beef. Reservation books for weekend dinners fill up days in advance, a pattern familiar to those in Manhattan’s high-traffic neighborhoods.

Some New York chefs are expanding south. A representative for a well-known Upper East Side restaurant group confirmed plans to open in Palm Beach County later this season. Local officials are watching the trend closely, hoping the city’s restaurant scene can grow in step with its new economy.

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