**Developer Duo Secures $117M Construction Loan for West Palm Beach Apartment Project**
Immocorp Ventures and Beachwold Residential have secured a $117 million construction loan from Centennial Bank to support development of a 382-unit multifamily apartment complex in the Northwood District of West Palm Beach.
The financing will be used to complete vertical construction, as well as cover reserves and closing costs for the project. Construction began in February 2024 and is currently about 30 percent complete. The development is scheduled for completion in the fourth quarter of 2026.
The project includes a mix of residential and commercial uses, featuring a nine-story building and two four-story buildings. Plans call for 61,000 square feet of retail, dining, and gallery space, including 22,000 square feet that will be dedicated to a grocery store or retail anchor tenant.
Located at 2484 Pinewood Avenue, the complex will offer a range of amenities such as co-working spaces, an indoor/outdoor fitness studio, paddle courts, and a rooftop entertainment deck with poolside cabanas. Outdoor features will include a full kitchen, dining areas, lawn games, and a pet park.
