**Developer Duo Secures $80.6M in Financing for West Palm Beach Mixed-Use Project**
A development team has secured $80.6 million in construction financing for a new mixed-use project located on leased land in West Palm Beach. The project is a joint venture between Woodfield Development and Flagler Realty & Development, which won a city-sponsored request for purchase. As part of the agreement, the developers will pay $2 million to lease the site.
PNC Bank provided the leasehold mortgage, which covers the 6.5-acre property at 8111 S. Dixie Highway. Groundbreaking for the project took place in December.
The development is expected to feature 358 residential units, including 90 designated for affordable housing. Additionally, the project will include 19,000 square feet of retail space and approximately 710 parking spaces across eight stories. A grocery store has already committed to leasing 15,000 square feet of the retail footprint.
Community amenities planned for the apartment complex include a pool, coworking space, and a sky lounge. Verdex Construction is serving as the project’s general contractor, and the design comes from local architecture firm Spina O’Rourke + Partners.
Completion of the development is anticipated by late 2026.
