The Estate Cos. has proposed Soleste Palm Station at 560 N. Rosemary Ave., West Palm Beach.
The Estate Cos. has unveiled plans for an apartment complex in downtown West Palm Beach.
The city’s Plans and Plats Review Committee will consider the application for Soleste Palm Station on Sept. 8. The 2.49-acre site at 410, 510 and 560 N. Rosemary Ave. is currently vacant.
Miami-based Estate Cos., through affiliate 520 W. Palm Beach Holdings LLC, purchased the property for $15.8 million in late 2021.
Totaling 298,371 square feet in two 8-story towers, Soleste Palm Station would have 321 apartments, 450 parking spaces and a pool deck. Southwest Fourth Street would go underneath the structure between the two towers.
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.
Officials with the Estate Cos. declined to comment. Coral Gables-based BC Architects designed the project. Boca Raton-based attorney Ele Zachariades represents the developer in the application.
There’s been a multifamily development boom in downtown West Palm Beach as many companies and wealthy executives flock to the city. The trend has led to several new office towers breaking ground. The city also has a Brightline passenger rail station that connects to Miami and Fort Lauderdale, with future stops in Boca Raton, Aventura and Orlando. In addition, the University of Florida will build a graduate campus in downtown West Palm Beach.
The Estate Cos. is one of the most prolific multifamily developers in South Florida. It has more than 4,000 apartments and 153,000 square feet of commercial space in its development pipeline in South Florida.
September 2022. South Florida Business Journal.