An apartment complex has broken ground at City Centre in Palm Beach Gardens after the developers secured a $24 million construction loan.
M&T Bank awarded the mortgage to City Centre Housing, an affiliate of Palm Beach Gardens-based Eastwind Development Group and Prague, Czech Republic-based ICP. It funded the Solera at City Centre apartments on the southwest side of City Centre, which s at 2000 PGA Blvd.
Verdex Construction recently filed notice with the county that it started construction on the project.
Solera at City Centre will have 136 apartments in four stories. Amenities would include a pool, a clubhouse, and a central courtyard. Ten percent of the units will be for workforce housing.
The developers acquired the 3.2-acre site for $4.25 million in October 2019.
City Centre currently has 99,063 square feet of retail, offices and restaurants, so having apartments there could drive more traffic to the commercial tenants.