Construction began on Oversea Apartments in July 2021, the Construction Journal reports. The $45 million Class A complex seeks to provide over 220 housing units to those living in West Palm Beach, FL. Residents can choose from studios to three-bedroom units. Developers want to keep rent at around $1,500 a month, per the Palm Beach Post.
The mixed-use 15-story complex will rest on 1.66 acres of land and include 333 parking spots. In total, it will measure over 230,000 square feet, most of which is residential space. Portions of the building have been allotted as retail and commercial space.
A conceptual rendering of the 15-story building
Oversea Apartments is owned by Woodfield Investments. The North Carolina-based developer has five active projects right now, costing an estimated $65 million total. It’s working with Kast Construction Company LLC, which is the project’s general contractor. Ideally, the project will conclude construction by 2022.
Community members can enjoy on-site pools, cabanas, and outdoor grills. One of the best things about Oversea Apartments is its location. Residents can easily walk from the complex to Clematis Street, which is home to many restaurants and bars.
The project’s location, per Apartments.com
Oversea Apartments’ location is 303 Banyan Boulevard, West Palm Beach, FL, 33401. It’s located in Palm Beach County, which had a population of 1.4 million people, per the 2019 U.S. Census.
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Nice to finally see some more development happening in the Palm Beach area.