Jupiter-based Index Investment Group and Palm Beach Gardens-based Eastwind Development LLC are expected to choose a general contractor this spring forMonterey Pointe, a 150-unit, $19.8 million Class A multifamily development for active adults.
The property offers luxury apartment living with features including four-story buildings with elevators, one- and two-bedroom units ranging 740-1,020 square feet, concierge services and a resident dining area. Monterey Pointe will only require that one resident per unit is 55 or older, which will allow for adult residents under 55 as well.
Altamonte Springs-based Forum Architecture & Interior Design Inc. is the project architect.
The 5.1-acre project site is on Greenwald Way North, near the north side of Osceola Parkway and east of John Young Parkway.
It’s also not far from the Osceola Parkway SunRail Station near Tupperware (NYSE: TUP). That station is part of SunRail’s Phase 2, which is still awaiting a full funding agreement to be finalized by the federal government.