A joint venture between New York-based Procida Development Group and Miami-based Trè Bèl Housing Group have proposed an affordable housing project in West Palm Beach.
The unnamed venture would measure seven stories above grade and feature 151 apartments. Residences would include studio, one-bedroom, and two-bedroom apartments, reserved for tenants earning within 30 to 80 percent of the area median income (AMI).
The venture would measure seven stories. Image from Floridian Development
The West Palm Beach Housing Authority notes that as of 2024, the median income was $104,000. Floridian Development notes that under these income parameters, rent would range from $614 to $2,104 a month. Residents at the 151-unit complex would have their rent capped at $2,104 for the most expansive units.
Key features of the mid-rise community include a 7,500-square-foot park, 5,000 square feet of retail space, and a 166-spot parking garage. As part of the project, the developer would also invest in public improvements.
The development would occupy a seven-parcel assemblage; developer 2823 Broadway QOZB LLC owns two of those sites, while the City of West Palm Beach owns the remaining five. The seven-story project would occupy 2803, 2813, 2815 Broadway and 601 and 611 27th Street, West Palm Beach, Florida, 33407, in Palm Beach County.
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