Akel Homes has officially broken ground on Mosaic Palms, a new apartment complex west of Boynton Beach, following a $30 million construction loan secured from Seacoast Bank. The Stuart-based bank provided financing to Civic Hypoluxo Holdings, a Delray Beach-based Akel Homes subsidiary. This loan covers the 11.8-acre development site located at 7376 Lyons Road, near the southeast corner of Hypoluxo Road.
Mosaic Palms will comprise 187 apartments across five three-story buildings, including 47 units designated as workforce housing for individuals earning up to 120% of the area median income. Designed to focus on comfort and community, the development will feature amenities such as a swimming pool, barbecue areas, and a clubhouse equipped with a 24-hour fitness center and a business center to accommodate remote work.
Mosaic Palm. Credit: Akel Homes.
“Mosaic Palms represents our continued commitment to delivering high-quality, thoughtfully designed communities in South Florida,” said Alex Akel, President of Akel Homes. “We’ve prioritized creating a lifestyle-centric environment with modern amenities and premium features to meet the needs of families, professionals, and retirees who call Palm Beach County home.”
Akel Homes, acting as the project’s general contractor, expects to complete Mosaic Palms by January 2026. MWA Architecture, handling the design, will bring its experience in creating functional and aesthetically pleasing residential spaces.
Mosaic Palm. Credit: Akel Homes.
The demand for housing in Palm Beach County has surged as more people move into the area, driving a boom in residential developments in western Palm Beach. Akel Homes has been active in this space, with additional projects such as Solana Bay, a residential community featuring 118 homes.
With Mosaic Palms underway, Akel Homes continues to expand its footprint, supporting the growth of quality, accessible housing options for a diverse range of residents across South Florida.
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Will this complex be mixed income as far as 30% 60% or 120%? Also, would there be a waitlist? When could someone apply? Thank you Harriet Bornstein