Affiliated scores $34M construction loan for Lake Worth Beach apartments
The land is cleared and these developers are ready to build at 1017 Lake Avenue.The project’s funding also includes $1.8 million from the Lake Worth Beach Community Redevelopment Agency, city incentives for infrastructure work, and $1.8 million from the Palm Beach County Workforce Housing Exchange Program.
Lake Worth will get to lease 120 parking spaces for the public. Rents start at $1,200 a month for a one bedroom. The seven-story, 215,000-square-foot building is to rise on 1.8 acres.
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Why does the CRa give millions to developers?
ReplyDeleteSo $1200 a month and the neighbors are living free.
ReplyDeleteGood news! We used to watch trains unload beer kegs at that location
ReplyDeleteI would love to have watched that. Where did the beer kegs go after they were unloaded.
ReplyDeleteSo where will they unload the beer kegs now?