“The residential complex in Florida will offer 136 apartments, ten percent of which will be offered with discount to local teachers, firefighters and paramedics. The complex also contains a restaurant and a swimming pool.”

Daniel Vopat, Investment Analyst

Type: Size: Acquisition:
Residential Development 136 units December 2019

In Palm Beach Gardens, Florida, together with local developer Jack Weir and his company, Eastwind Developement, we are building a residential complex that combines 136 above-standard housing units with their own parking spaces, commercial, and social spaces, including restaurants and a swimming pool. In March 2020, a ceremony was held at the construction site with the participation of city representatives and the local press.  The construction should be completed in May 2021.

The property is located directly in the heart of the city, near the intersection of PGA Boulevard and US 1 Highway. It will offer a total of 136 two to four-room apartments with an area of 700 to 1,200 sq ft. “Under the agreement with the city, ten percent of the capacity will be leased at a discounted price to local, public-service employees, such as teachers, police officers, firefighters, rescue services, government officials and the like,” describes Daniel Vopat. Once the project is leased, we anticipate the subsequent sale as an income-generating asset.