In West Palm Beach’s Warehouse District, the transformation from barbed wire and body shops to hipster haven is accelerating.
Palm Beach Gardens-based Eastwind Development officially broke ground Thursday, December 5, on The District Flats, a 178-unit apartment complex a block south of the Grandview Market food hall.
The four-story building on Blanche Street will include a 250-space parking garage, a dog park and a large mural. Construction is expected to finish in 2021.
Eastwind has yet to say how much units will cost. Twenty percent of the apartments, or 36 units, will offer discounted rent to tenants who make less than 140 percent of the annual median income for Palm Beach County.
District Flats is direction south of the 85,000-square-foot Warehouse District, where tenants include Steam Horse Brewery, the Steel Tie Spirits distillery, Palm Beach Squash Club and Gypsy Life Surf Shop. The main attraction is the Grandview Public Market, where eateries sell ramen, poke, tacos and cold-brew coffee.
The six warehouses in the deal were built between 1925 and 1974 — ancient for industrial space in the Amazon age, but ideal for a collection of independent retailers and eateries.
Johnstone Capital Partners, headed by Hunter Beebe of Palm Beach, paid $5.46 million for the six buildings over the past few years, according to property records. Johnstone flipped the properties in late 2018 to Asana Partners of Charlotte, which paid $18.5 million.
Source: Palm Beach Post