550 Bush Street (Google Maps, Getty)
Loaded Attributes superior its planned 35-device townhouse rental growth in Jupiter, which could quickly substitute a church.
The Jupiter Setting up & Zoning Commission accepted the 35-device Seaglass Townhomes development at 550 Bush Road all through a assembly final week. The vote handed with just one dissenter, commissioner Richard Dunning.
The home is at this time home to Unity of Jupiter and a one-family members home, developer Miles Rich explained to fee associates. The Jupiter City Council is slated to make a final determination on the task at its Feb. 21 meeting.
Abundant Properties, a growth and property administration organization centered in Fort Pierce, acquired the just about 3-acre home for $2.5 million in August, information exhibit.
The proposed job involves 35 townhouses, every single spanning 1,465 square toes with a few bedrooms, two loos, and one particular half-toilet, in accordance to the designs Loaded offered to the board. Five of the townhouses will be reserved for workforce housing, four of which will be particularly for Jupiter’s cheapest earnings tier.
It is unclear if Prosperous Attributes will be using gain of Palm Seashore County’s $200 million cost-effective housing bond, which was authorised in November and supplies builders with a $10,000 subsidy for every workforce housing device designed. The bond will fund up to 20,000 economical units in excess of the future 10 years. Rich Qualities could not immediately be attained for remark.
The growth will also contain a personal highway, a pool and a leasing office, the designs exhibit.
Rich Attributes is pursuing silver degree certification from the Florida Green Developing Council, Loaded informed board customers. Seaglass Townhomes would be the 3rd venture in Jupiter to get a environmentally friendly making certification, in accordance to Jupiter’s senior planner Peter Meyer.
Jupiter, a local community acknowledged for its outsize inhabitants of qualified golfers (like PGA champ Justin Thomas) and a luxurious housing marketplace, has attracted a number of multifamily developers in the very last 12 months. Pandemic-fueled migration to South Florida has introduced a surge in demand across the tri-county region’s residential markets.
Berkshire Household Developments acquired a 390-unit Jupiter condominium complex for $202.5 million in April. Dallas-dependent S2 Funds purchased a 359-unit Jupiter condominium complex that same month for $127 million.
