Local contractor Verdex Construction has started work on a 392-unit apartment complex on a 29-acre site, south of Southern Blvd. and west of US 441.
The project, named Town Southern, spans 388,000 sq.ft. and includes 15 three-story apartment buildings. Miami-based Related Group is the developer.
“The rental market in South Florida is very active with Palm Beach County as a hotspot for multifamily development. We welcome our first project with Related Group, one of the largest developers in South Florida,” said Verdex Construction president Rex Kirby.
As reported by The Real Deal, Town Southern will offer apartment units with up to three bedrooms. These residences will have attached garages and interior features such as European cabinets, quartz granite counter tops, and designer bath vanities with customized mirrors.
Area amenities will consist of a private theater, 24-hour gym, steam room, conference room with WiFi, yoga studio, spinning room, tennis courts, putting greens, pool and clubhouse. Construction is estimated to last 17 months.
A $52 million loan was acquired by Related Group from JPMorgan in August 2017 to finance the construction of this project.
Aside from Town Southern, Verdex Construction is also building other apartment projects: Central Gardens Grand in Palm Beach Gardens, and the High Ridge Landing and Santorini Apartments in Boynton Beach.
The firm’s portfolio is comprised of projects across South Florida including the Canopy Hotel in Downtown West Palm Beach; Sabbia Beach Condominiums in Pompano Beach; and 1000 North, a restaurant co-owned by Michael Jordan, in Jupiter.