West Palm Beach-based multifamily developer Parkland Cos. affiliate Park PB has secured a $12.65 million construction loan for an apartment building in West Palm Beach. The 105 unit, four-story building recently broke ground with Clearwater-based Bradley Construction Co. as the general contractor. The new development is located on a 1.3-acre site on Ponce de Leon Ave. The mixed use building will include 3,500 square feet of ground-floor retail. Financing was provided by City National Bank of Florida. The time table for the completion of the build out is July of 2016.
“It’s kind of the last frontier in West Palm Beach,” said Neil J. Kozokoff head of Parkland Cos. “We saw it as an opportunity to provide a good boutique-scale luxury apartment building in a great location.”
