Viewing posts from: January 2020

Apartment complex breaks ground at Palm Beach County mixed-use center

News / 15.01.20200 comments

An apartment complex has broken ground at City Centre in Palm Beach Gardens after the developers secured a $24 million construction loan.

M&T Bank awarded the mortgage to City Centre Housing, an affiliate of Palm
Beach Gardens-based Eastwind Development Group and Prague, Czech Republic­based ICP. It funded the Solera at City Centre apartments on the southwest side of City Centre, which sat 2000 PGA Blvd.

Verdex Construction recently filed notice with the county that it started
construction on the project.

Solera at City Centre will have 136 apartments in four stories. Amenities would
include a pool, a clubhouse, and a central courtyard. Ten percent of the units will be for workforce housing.

The developers acquired the 3.2-acre site for $4.25 million in October 2019.
City Centre currently has 99,063 square feet of retail, offices and restaurants, so having apartments there could drive more traffic to the commercial tenants.

From the South Florida Business Journal

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District Flats featured in WPB Magazine

Affordable Housing, News, properties / 08.01.20200 comments

A new project, The District Flats rental community is coming to in West Palm Beach’s popular Warehouse District. The 178-unit multifamily development will be located at 1050 Blanche Street and will be a key addition to a neighborhood that has become a favorite destination for millennials… of all ages!

The District Flats will feature a modern-industrial designed, four-story building surrounding a central courtyard, swimming pool and deck area; a three-story building surrounding a garden amphitheater; and a three-level, 250-space parking garage enhanced by a large mural at the entry.  A dog park and a public park at the south end of the site is planned, and the project will also include 2,700 sq. ft. of commercial space that will be home to a stylish cafe. There will be 26 studio apartments; 86 one-bedroom, one-bath units; and 48 two-bedroom, two-bath apartments, along with a 3,000 sq. ft. clubhouse.

“This project will not only answer the growing need for housing around Downtown West Palm Beach but will also help solidify the Warehouse District as the city’s next hub of urban activity,” said Jack Weir, founder and managing principal of Eastwind Development. “We see great things ahead for both Palm Beach County and the City of West Palm Beach.”

Designed by MSA Architects, with Verdex Construction as the general contractor, The District Flats is located south of the trendy Grandview Public Market food hall and other nearby retail and entertainment outlets like Steel Tie Distillery, Steam Horse Brewing Company and Surfing Florida Museum.

All units will feature nine-foot ceilings, keyless door entries, programmable thermostats, tile & wood plank flooring, stainless steel appliances, granite countertops, pendant light fixtures, bedroom ceiling fans and energy and water conservation features designed to lower monthly resident utility bills.

The development will also feature a set-aside for workforce housing. Twenty (20%) percent (36 units) in the community will be set aside for households with an annual income equal or less than 140% of the 2018 annual median income (AM I) for Palm Beach County for studios ($75,460 income), 1 BR units ($80,850 income) and 2 BR units ($97,020 income) at the time of initial leasing, Rents for the workforce housing units are not projected to be lower than market rents. The workforce housing restrictions will last for a period of 15 years.

You can download the pdf of the article here.

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