The Estate Cos. received approval for an 8-story apartment development in West Palm Beach.
The city’s Downtown Action Committee unanimously approved the Soleste Palm Station at 520 N. Rosemary Ave. on April 12. Totaling 298,371 square feet, the development would have 321 apartments, 450 parking spaces and a pool deck. There would be two towers, with Southwest Fourth Street going underneath the building and between the two towers.
The developer purchased the 2.5-acre site for $15.8 million in 2021.
“This project serves the gateway to the expansion of the North Downtown area,” stated Jeffrey Ardizon, a principal of the Estate Cos.
The apartments would range from 330 to 1,265 square feet. The project would have 78 micro units, 34 one-bedroom units, 102 one-bedroom units with dens, 99 two-bedroom units, seven three-bedroom units, and one live-work unit, which would combine residential with space for a business.
Coral Gables-based BC Architects designed the project. Amenities would include a pool with cabana, a fitness club with yoga and spin rooms, a social/game lounge, coworking space, a dog park, and electric vehicle charging stations.
The Estate Cos. plans to break ground on Soleste Palm Station in July.
There’s been a multifamily development boom in West Palm Beach as the county leads the nation in attracting wealthy residents from out of state. There’s also been an influx of financial companies to the city.
The Estate Cos. has developed more than 4,000 apartments in South Florida, making it one of the region's largest builders.
April 2023. South Florida Business Journal