The Estate Companies have closed on a $72.5 million construction loan from Synovus Bank for Soleste Palm Station, a mid-rise development featuring two 8-story buildings with 321 luxury rental apartments, located at 520 N. Rosemary Ave. in downtown West Palm Beach. The team expects to break ground Q4 2024.
Totaling 298,371 square feet, Soleste Palm Station will deliver a mix of studios, one-, two- and three-bedroom luxury apartments ranging from 330 to 1,265 square feet.
Soleste Palm Station amenities include a pool with cabanas and a health club with yoga, spin and aerobics rooms and on-demand fitness. The development will include a social and gaming lounge, cyber lobby with co-working spaces, dog park and pet washing station, dry cleaning and laundry services, fully equipped outdoor summer kitchen, and electric car charging stations.
Soleste Palm Station is minutes from the Brightline high-speed train station.
The Estate Companies has developed approximately 4,000 rental units and 153,000 square feet of commercial space throughout the tri-county region.