BOARD OF DIRECTORS- 2014/2015Read More >>
Development around SunRail‘s proposed Tupperware Station in northern Osceola County is expected to include independent living for seniors in a mix of retail and apartments.Read More >>
Dakota at Abacoa is a 190 unit Class A multifamily rental housing community that is located in the Abacoa master planned community in the Town of Jupiter in northern Palm Beach County. Abacoa is the home of the Scripps Florida Research Institute and Max Planck Institute, centerpieces of an emerging biotechnology hub and new company incubator in northern Palm Beach County. It is also the location for a campus of Florida Atlantic University, South Florida’s largest university north of Miami, and Roger Dean Stadium and training complex, spring training home of the St. Louis Cardinals and Florida Marlins, as well as two Florida League Class A minor league franchises. Dakota at Abacoa is located 500 feet west of the intersection of Dakota Drive and Central Boulevard, on both the north and south sides of Dakota Drive.
Dakota at Abacoa features Bermuda-style architecture and consists of two phases. The unit mix consists 1BR/1B garden units, 2BR/2B garden units, 2BR/2.5B townhouse units, and 3BR/2B units and offers a distinctive new product type not currently available in northern Palm Beach County. Unit sizes range in size from about 800 square feet for a 1BR unit to over 1,200 square feet for certain types of 2 BR townhouse and 3 BR units. Interior finishes include 9 foot ceilings, granite countertops, wood cabinets and stainless steel appliances. There is also a community center with a business office, and an elegant community pool and deck area.
Evernia Place is an 85 unit Affordable Senior Housing Rental Development that was completed in 2014. The residents must be at least 62 years or older. The property is located on the northeast corner of Evernia Drive and S. Sapodilla Avenue in the City of West Palm Beach, Florida. The project benefits from its exceptional location and proximity to the following; Downtown West Palm Beach Business Center, the West Palm Beach Tri-Rail Station, new Florida East Coast Railway passenger line station, Publix, Pharmacy, City Place Shopping District, Public Parks, Community Center, Library and various Medical Facilities in the immediate area.
The community has 84 affordable senior rental contained in a seven story high-rise building that includes a partially below grade parking garage and two elevators. The average unit size is approximately 850 square feet with the 1 bedrooms averaging 750 SF and the 2 bedrooms averaging 950 SF. Interior features include energy Star certified dishwashers and refrigerators as well as microwave ovens, double compartment kitchen sinks and washer and dryer hook-ups. Each unit is wired for high-speed internet access, and there are ceiling fans in all bedrooms and living areas.
Evernia Place offers residents attractive project amenities that include a large community area with a sitting area and large screen television, leasing center with offices, computer center that include computers, printers and fax/copy machine, fitness center with modern exercise equipment, a large sun-deck with swimming pool, bocce court, grilling area and sitting area, a sixth floor reading deck and a card/game room. Each floor has a common washer and dryer room. Wireless high speed internet access is available throughout the community area and swimming pool area. Additionally, the Property Manager coordinates with outside visiting service providers to coordinate resident services and activities such as resident parties, job training and counseling, health and wellness and financial counseling.Read More >>
Bridgewater at Lake Osborne is a 108 unit Class A luxury multifamily rental housing community that is located on the shores of Lake Osborne in central Palm Beach County. The development site is located ½ mile west of Interstate 95, the main north-south interstate arterial highway serving Palm Beach County, on the south side of Lantana Road. The property is centrally located between West Palm Beach and Boca Raton, the two major urban areas and employment centers of Palm Beach County, Florida’s third largest county by population. The scenic wide waters of Lake Osborne provide a spectacular backdrop for 108 luxury townhomes and garden apartments that are built to luxury condominium quality on a 9.6 acre site. The 400 acres of Lake Osborne offer a superb environment for fishing, water skiing, boating and jet skiing. Bridgewater appeals to water sport enthusiasts by offering a boat ramp providing access to Lake Osborne, as well as a parking lot that can be used for storing boat trailers. In addition to access to Lake Osborne, the community features a waterside resort-style pool and a sunset pavilion, as well as a tot lot and bus shelter for children.
The unit mix of Bridgewater at Lake Osborne consists of 26 2BR/2B garden units, 52 3BR/2B garden units, and 30 3BR/2.5B townhome units. The units range in size from approximately 1,200 square feet for a 2BR unit to nearly 2,000 square feet for the 3 BR townhome units. All of the units have direct access garages and patios or balconies. Unit finishes include nine foot ceilings, granite countertops, wood cabinets and stainless steel appliances. The site also offers restricted access entry.
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Ridgemont Park is a 120 unit Affordable Housing Rental Development. All of the rental set-aside units at Ridgemont Park target residents with incomes at or below 60% of the Area Median Income (“AMI”). The property is located off Lee Victory Parkway in the City of Smyrna, TN. The project is walking distance to Smyrna High School and a short drive to the Nissan Logistics Corporation and a brand new Amazon warehouse distribution center.
The community offers one, two and three bedroom apartment homes. The average unit size is approximately 1033 square feet with the 1 bedrooms averaging 780SF, the 2 bedrooms averaging 1,010 SF and the 3 bedroom averaging 1,197 square feet. The interiors include an array of features such as spacious living areas, faux granite countertops, Energy Star rated Black Appliances, full size washer and dryer, ceiling fans throughout and large patios or balconies.. Top notch amenities including a swimming pool with WiFi, fitness center, volleyball court, and a beautiful children’s playground.Read More >>
Village Park Senior Housing – This 105 unit new construction senior affordable development utilizes 9% housing tax credits and is located in the City of Winter Park in central Florida. This project is a joint venture with Atlantic Housing, LLLP, and completed construction in December 2013. Stabilization and permanent loan conversion occurred in 2014. Interest in this community was sold in June 2015.Read More >>
Little Torch Key is a 48 unit multifamily rental housing community located in Little Torch Key, FL. The development consists of 24 townhouse duplex buildings. All 48 units contain 2 bedrooms, 2.5 bathrooms and a porch. Each unit size is 1,080 sf. The ground floor on each side of the duplex is reserved for covered parking, the second floor has a kitchen, living room, dining room and ½ bath and the top floor has two bedrooms, each of which has its own bathroom.
The duplexes were constructed utilizing a manufactured modular system that is anchored to foundations resting on concrete pilings; they feature impact glass and are designed to absorb a wind load of up to 180 mph, consistent with the most stringent hurricane protection codes in the Florida Keys. The marina has been refurbished, and boat slips are available first for rental to community residents at a discounted rate.
The beach was restored with newly installed sand, and there are two pools for residents. Fourteen of the units are required to be workforce housing units, which are restricted to a maximum rent affordable to households earning 120% of median income in Monroe County.Read More >>
Riverwalk Pointe at Mangrove Bay is one of our newest communities and is currently in lease-up. It is a planned 104 unit Class A luxury multifamily rental housing community developed in the Mangrove Bay PUD (planned unit development) on the west side of US Highway 1, approximately 1 mile south of Indiantown Road, in the Town of Jupiter in northern Palm Beach County. This community serves residents aged 55 and older. The Mangrove Bay PUD is a luxury adult community situated on over 16 acres consisting of 26 attractive one-story duplex villas on the west side, a 157 unit combined assisted living facility and independent living facility in the northwest corner, and Riverwalk Pointe at Mangrove Bay is located on the east side. All three PUD components share access from Mangrove Bay Way, an attractive heavily landscaped entry road, and have access to and views of the Intracoastal Waterway. Mangrove Bay is bordered on the west by the Town of Jupiter’s Riverwalk, a 2.5 mile linear park that extends along the east bank of the Intracoastal Waterway starting south of the site and extending north of Indiantown Road to the southern shore of the Jupiter Inlet; and there is excellent access to it as well as the nearby Jupiter Yacht Club, which offers retail, dining and a marina.
The development plan features two attractive four-story elevator buildings with an additional level of underground structured parking. Riverwalk Pointe at Mangrove Bay was designed with active adults in mind offering, a central clubhouse with a business center and fitness room, as well as an opulent pool and landscaped deck area. The unit mix consists of 18 1BR/1B units, 70 2BR/2B units, and 16 3BR/2B units, and unit sizes range in size from approximately 900 square feet for a 1BR unit to over 1,300 square feet for the 3 BR units.Read More >>
HIGH RIDGE LANDING
BOYNTON BEACH, FLORIDA
High Ridge Landing is a planned 184 unit multifamily rental housing community that will be developed on the northwest corner of High Ridge Road and Miner Road in western Boynton Beach, Palm Beach County, Florida. Boynton Beach is the third largest city in Palm Beach County, which has the largest population among Florida counties after Miami-Dade County (Miami) and Broward County (Fort Lauderdale). The site is ideally located just west of Interstate 95 in the Gateway Boulevard corridor near the Quantum office park, a major employment center in central Palm Beach County.
The development plan calls for 184 garden apartment units in eight residential buildings plus a community clubhouse. The planned unit mix will be 48 one bedroom/one bath units, 112 two bedroom/two bath units, and 24 three bedroom/two bath units. There will be a total of 31 garages. Unit sizes will range from approximately 800 A/C square feet to 1,230 A/C square feet. Virtually all the units will have an enclosed outdoor balcony or patio. Average unit size will be 1,040 sf. Units will feature granite countertops, stainless steel appliances, hurricane protective impact glass and full-size washers and dryers. Monthly rents are projected to range from $1,100 to $1,600 per month. The project is being evaluated for compliance with Florida Green Building Coalition certification standards, and green features will include Energy Star appliances, low-flow showerheads and faucets, low VOC paint, reflective roofing, irrigation recycling and drought resistant landscaping. The community will be anchored by a 4,000 sq. ft. clubhouse that will include the leasing office, community room for functions, fitness center and business center. There will be a pool and deck and a walkway around a scenic lake.
The property’s central location and ready interstate highway access makes for a short commute to West Palm Beach to the north and Delray Beach and Boca Raton to the south. In addition to the Quantum office park, major local employers include Bethesda Memorial Hospital and the 18 local public schools (12 elementary, 4 middle and 2 high schools). High Ridge is located immediately south of the highly-regarded Imagine Charter School, serving Grades K-8, which has a large waiting list. Nearby shopping includes: the Boynton Beach Mall, a 1.2 million sf shopping center anchored by Dillard’s, Macy’s, Sears and JC Penney, with over 140 retail shops and restaurants; the Boynton Town Center “big box” retail center; and Renaissance Commons at Congress Avenue, a mixed-use center featuring office, retail and residential uses. Further west in Boynton Beach are the noted Green Cay Nature Center & Wetlands and the Arthur R. Marshall Loxahatchee National Wildlife Refuge.
High Ridge Landing will be utilizing a construction loan commitment with a mini-perm option that will provide an estimated $19.0 million in financing out of total projected development costs of $26.2 million. Property management will be provided by the Southeast division of Lincoln Property Management Group, Inc., which has provided property management services to Eastwind’s principal on over 30 properties over the past 12 years. Rezoning and site plan approval have been completed, and permit submissions have been made. The property will be held for investment and refinanced at the end of the construction loan term, unless it is sold to a third party after leaseup and stabilization.