ECI Group Launches Preleasing at West Palm Beach Property

The property overlooks a South Florida golf course designed by Jack Nicklaus. Image courtesy of ECI Group

Preleasing has begun at Inscription West Palm Beach, a 191-unit luxury high-rise property overlooking an adjacent 18-hole Jack Nicklaus-designed golf course in West Palm Beach, Fla. The property was developed by ECI Group, alongside local Palm Beach real estate investors.

Wells Fargo provided construction financing for the project. The South Florida Business Journal reported the loan totaled $51 million. The first residences will be available for move-in by February.

Located at 1991 Presidential Way, the British West Indies-styled building has views of the 10th and 18th holes of the Banyan Cay Resort & Golf course as well as the Intracoastal Waterway. The property offers a resort-quality rental home option to complement the high-end single-family homes, villas and condominiums in the gated community surrounding it.

The property will have one-, two- and three-bedroom residences and all units will have either a balcony or private porch. Residential features include French door refrigerators with bottom freezers, designer cabinets and light fixtures, tiled kitchen backsplashes, expansive kitchen islands, large walk-in closets, full-size washers and dryers and ceiling fans in all bedrooms and living rooms.

Community amenities at Inscription West Palm Beach include a pool with a sun shelf, a pool deck with cabanas and extensive landscaping, an eighth-floor outdoor amenity area with golf course and skyline views, a clubroom with a gourmet kitchen, a fitness center, coffee bar, work-from-home space, package concierge, rideshare lounge, bike racks and bicycle share program and a dog spa.

More ECI moves

In June, ECI Group acquired Longitude 81 Apartments, a 261-unit luxury multifamily community in Estero, Fla., on the Gulf Coast, from Passco Real Estate. The firm rebranded the property as Waterline Estero. It is ECI Group’s third property in Lee County. That same month, ECI Group and its joint venture partner The Griffin Fund launched preleasing at The Corwyn Conyers in Conyers, Ga., a Class A, 300-unit apartment community in the Atlanta suburbs.

Last week, the Atlanta-based firm sold The Columns at Westchase, a 318-unit community in Houston built in 1999, to Mosaic Residential. The sale price was not disclosed, but ECI Group purchased the property $35 million in 2018 and made capital improvements throughout the property, according to CommercialEdge data.