Transwestern Breaks Ground on West Palm Beach Project
- Jul 06, 2020
Transwestern Development Co. has broken ground on the 217-unit Boutique West Palm and expects to complete the project in the first quarter of 2022. Bank OZK is providing $30 million in construction financing for the West Palm Beach, Fla., development, according to public records.
Kast Construction is the general contractor for the Preston Partnership-designed project. The groundbreaking comes two months after Transwestern joined forces with Summit Contracting Group to begin work on The Independent, a 288-unit development in Tampa, Fla.
The development’s location at 695 S. Olive Ave. puts it within walking distance of a number of live music venues, restaurants and night clubs as well as the historical district along Clematis Street. The property will also be less than a mile from Brightline’s West Palm Beach station.
Boutique West Palm will offer a mix of studio, one- and two-bedroom units, with half providing direct view to the ocean. Common-area amenities will include a coworking lounge, bike storage, a resort-style pool, a fitness center and a controlled-access garage. The community’s ground floor will also have approximately 6,000 square feet of retail space.