Konover South broke ground on a Coconut Crossing retail center in Palm Beach Gardens after securing a $26.7 million construction loan.

The S. Florida Business Journal reports that City National Bank of Florida boosted its loan with DKC Coconut Crossing, part of Deerfield Beach-based Konover South, from $7 million when it originated in 2021 to $26.7 million now. The loan covers the 30.2-acre property at 12500 to 12950 Northlake Blvd., just south of the new Avenir community with thousands of homes.

C.E. Gleeson Constructors started construction on the retail center.

Coconut Crossing is slated for 82,521 square feet of retail in three main buildings and seven out parcel buildings. Tenants will include Aldi, Starbucks, Wendy’s and Fifth Third Bank.

The developer acquired the property for $14 million in 2021.

Konover South is heavily invested in the area, as it’s also building a retail center in Westlake just to the south.

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