South Miami-based Estate Cos. recently secured a $72.5 million construction loan for “Soleste Palm Station,” a luxury housing development in West Palm Beach. Initially, per the developer’s website, construction was intended to start on the mid-rise complex in the third quarter of 2022.
Now, new developments suggest that groundbreaking could happen later this year, with the general contractor aiming for a 2026 completion. Soleste Palm Station calls for two eight-story towers, totaling 298,371 square feet. Our sources indicate that there would be 321 apartments measuring 330 to 1,265 square feet and ranging from studio to three-bedroom floorplans.
The venture would offer 321 apartments in two eight-story towers. Image from the SFBJ
Connect CRE reports that communal amenities will include a swimming pool with cabanas, electric car charging stations, and a health club featuring yoga, spin, and aerobics rooms. The Estate Cos. secured the 2.5-acre site for $15.8 million in 2021 and received approval two years later. Google Earth’s renderings suggest that the parcel is vacant. Soleste Palm Station isn’t the only project in the Estate Cos. pipeline.
Previously, Florida YIMBY reported on Soleste Reserve I, a 353-unit complex slated for Davie, FL. The Real Deal reported that the project was approved on the condition that 53 of the homes would be marketed as below-market-rate housing. Plans are still pending for Soleste Reserve II.
Soleste Palm Station is slated for 520 N Rosemary Avenue, West Palm Beach, FL, 33401, in Palm Beach County.
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