Rockpoint, Kolter Team Up For South Florida Development
It's Kolter's third ongoing project in the area.
Rockpoint and The Kolter Group have entered a joint venture to develop The Sutton, a 432-unit multifamily community in Palm Beach Gardens, Fla. The transaction includes the acquisition of the development site. PNC Bank provided construction financing for the project, which is expected to come online in 2028.
The Sutton will include five-story buildings across a 17.6-acre site. Apartments will include studio, one-, two- and three-bedroom layouts with stainless steel appliances and quartz countertops.
Shared amenities at The Sutton will include a swimming pool, a fitness center with a group fitness room, coworking spaces, a resident lounge, a children’s area and an onsite dog park.
The Sutton will have quick access to Interstate 95 and the Florida Turnpike. Palm Beach Gardens is approximately 12 miles north of West Palm Beach.
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The project is part of The Kolter Group’s ongoing expansion in Palm Beach Gardens. Last January, Kolter Multifamily, the multifamily arm of the company, proposed two projects totaling 797 units.
Last June, Kolter broke ground on Alton Palmetto, a 276-unit community in Palmetto, Fla. The project is expected to deliver later this year.
Palm Beach Gardens attracts development
Construction projects in the Palm Beach Gardens area continue to move forward. Last November, Abacus Capital Group received a $77.5 million construction loan for Arbor House. The project includes 302 luxury units at 3701 Catalfumo Way S.
Catalfumo Cos. also secured $401 million for a luxury condominium project in the area this past May. The 106-unit development, which has been under construction since 2024, is scheduled for completion this summer.
