Affordable Senior Living Community Opens in West Palm Beach
- Mar 06, 2020
Related Urban Development Group, in partnership with the City of West Palm Beach, has opened Georgian Garden Apartments, an 87-unit affordable senior housing community in West Palm Beach, Fla. The facility caters to residents earning at or below 60 percent of the area’s median income, with some units reserved for those earning less than 33 percent of AMI.
Located at 4330 Community Drive, the four-story building designed by Modis Architects encompasses one- and two-bedroom floorplans, as well as a ground-floor fitness center and multipurpose room. The 2.7-acre property also includes 100 parking spaces.
Georgian Garden Apartments is less than 5 miles west of the city center, just east of Military Trail and a mile north of Okeechobee Boulevard. Crosstown Plaza and Village Commons are both within a 1-mile radius of the community and the closest medical center is less than half a mile southwest.
Related Urban broke ground on the $21.5 million project in October 2018, having several financing sources. According to Yardi Matrix data, the development was funded with a $15 million construction loan from Truist Bank, $607,500 in federal program funds from the City of West Palm Beach and $264,000 from Fannie Mae.
In November, Related Urban broke ground on the second phase of a 22-acre, $600 million affordable and workforce housing development in Miami’s Little Havana neighborhood. The 150-unit community is developed in partnership with Miami-Dade County’s public housing agency.