Los Angeles-based real estate development firm American Group has broken ground on Palm Beach Riverstone, an 8-story residential apartment community slated for 2350 45th Street in the City of West Palm Beach. The developer is moving forward with the project after locking in a $72 million construction loan provided by Western-Southern Life Assurance Co. Designed by Kendall-based MSA Architects, the development is projected to yield over 600,000 square feet of space with 374 apartments, adequate amenities and 675 parking spaces.
2350 45th Street spans 7.6 acres, sitting on the southeast side of the I-95 exit to 45th Street and bound by a narrow stream of water to the east. The site once was occupied by a Days Inn, which was demolished in 2019 after American Group purchased the entire 11.6-acre site for $9.5 million. Palm Beach International Airport is a 10 minute drive south from the development site and 1.3 miles to the Mangonia Park Tr-Rail station.
2350 45th Street (February 2021). Courtesy of Google Maps.
2350 45th Street (May 2016). Courtesy of Google Maps.
The few renderings made public of the project depicts the structure designed in a neo-classical contemporary style, featuring elevations with smooth stucco exteriors, stone cladding around the lower floors, canopied entrances and ornamental crown moldings. Balconies are enclosed in black aluminum guard rails and the property is surrounded with ample landscaping.
An article from The Palm Beach Post written in 2020 stated that there may be potential to see a hotel rise on the remaining portion of the development site, depicted in the rendering below.
Palm Beach Riverstone. Designed by MSA Architects.
Palm Beach Riverstone is a Class A apartment complex, and will include 374 studio, one, two, and three-bedroom apartments with private balconies and first floor fenced garden yards. Amenities will include a dog spa and grooming area, a gaming area, an interior bistro bar and a sky lounge on the eighth floor. The structure will wrap around an 36,000-square-foot interior atrium courtyard featuring a pool and spa, water fountains, grilling and bbq areas and an entertaining pavilion. Additional amenities include electric car charging stations, high-speed fiber internet, a backup generator, and a jogging path. ID & Design International is listed as the interior designer.
Hedrick Brothers Construction is listed as the general contractor.
With construction now underway, YIMBY expects the project to reach completion towards the end of 2022 or early 2023.
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The municipality is the City of West Palm Beach, not Riviera Beach, to be accurate. Also, it is 1.3 miles to the Mangonia Park Tr-Rail station as well. This is a short bus ride down 45th Street. Was not mentioned in the article.
Thanks for the correction!
How much will be the rent? It does not say on the description.
What are the costs of the 2 & 3 bedroom units?
The sky lounge will there be live music