Fort Lauderdale-based Affiliated Development has started construction on a mixed-income workforce housing project, The Grand. Located in downtown West Palm Beach, The Grand is walking distance to the city’s newest office complexes, shopping, dining, and entertainment venues, as well as the Brightline and Tri-Rail stations.
The eight-story building will offer 301 one and two-bedroom apartments and nine three-bedroom townhomes.
“Our goal is to work with our city and CRA partners to create a transformative project that ignites redevelopment activities within the CRA target area and increases the quality of life for the city’s residents,” said Affiliated CEO Jeff Burns. “West Palm Beach’s leadership and staff have been amazing to work with, and we are excited to play a role in this city’s evolution.”
The Grand was capitalized by a $53-million first mortgage from Bank United and an investment from Affiliated Housing Impact Fund, LP and a private family office.