An ever-expanding area in the Western Communities is looking at even more housing.
The Related Group, a real estate development company out of Miami, recently closed a $12.5 million deal to purchase 29 acres off Acme Road behind the Lowe’s on 441, just south of Southern Boulevard in Royal Palm Beach. The plan is to build 390 multifamily homes on the property, according to a statement from Max Cruz, Related’s vice president of development. They are shooting for completion in 2018.
“We’re excited to begin work in Royal Palm Beach,” the statement reads. “We see this project as a continuation of the work Related has begun across Palm Beach County and look forward to building upon the area’s already high standard of living.”
Development along 441 continues to be dense.
Just two miles down the road near the Best Buy plaza in Wellington, The Quaye is leasing its newly built 350 units spread out 104 one-bedroom apartments, 149 two-bedroom town homes, 75 three-bedroom town homes and 22 four-bedroom town homes.
Two more miles south of the Best Buy sits the Wellington-owned K-Park — now an organic farm, but the village council has been kicking around ideas for development. During several town hall meetings last year, Wellington residents largely rejected the idea of more housing in the already dense area. Many said they wanted to keep it a park to provide some green space on the major roadway becoming widely known for housing and strip malls.
Elsewhere in Royal Palm Beach, another Miami development company is working on 385 single-family town homes on the old water treatment plant site just off Crestwood Boulevard. Lennar Homes paid the village $34 million sale for 154 acres.
Despite being based in Miami, The Related Group are not strangers to Palm Beach County.
The company was an original partner in CityPlace when it was built in 2000, and have worked on housing projects in other places like Boynton Beach and Delray Beach.