PNC Bank lends $20M to build Boynton Beach apartments

News / 21.10.2015

The developer of the High Ridge Landing apartment project in Boynton Beach obtained a $20.36 million loan from PNC Bank.

The bank (NYSE: PNC) awarded the mortgage to High Ridge Housing, an affiliate of Palm Beach Gardens-based Eastwind Development led by John F. Weir. The developer recently started construction of the apartments on the northeast corner of High Ridge Road and Miner Road. The general contractor is West Palm Beach-based Verdex Construction.

According to Eastwind Development’s website, High Ridge Landing is planned for 184 units in eight buildings with Key West-style architecture. It’ll include a 4,000-square-foot clubhouse with a fitness center and a pool. Units will range from 850 to 1,250 square feet. There will be 30 detached garages.

The 8.3-acre site was acquired in 2014 for $2.5 million.

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