Kenco Communities and Wexford Capital begin ‘massive’ Lantana development

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water tower commons
Rendering of Water Tower Commons

Florida Community Bank has awarded Kenco Communities and Wexford Capital a $20 million loan to pay for the Water Tower Commons mixed-use project groundbreaking in Lantana (Palm Beach County).

The two developers are planning a massive mixed-use project at 1199 Lantana Rd., with 275,000 sq. ft. of retail space and 1,091 garden-style apartments.

Groundbreaking is expected between the second and third quarters of 2017 with completion for the retail section slated for early 2018.

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Lantana officials granted site approvals for the project’s retail portion in December 2015, though approvals for the apartments are still pending.

Vice-president Michael Langolf told The Real Deal that the loan will be used for what he called “horizontal work” on the site — clearing land and installing utilities, which is necessary before vertical construction can begin.

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