A developer that has already built an apartment building in West Palm Beach is now looking to construct another. This one would be in the downtown area and very close to the courthouse complex.
Founding partner of Woodfield Investments, Todd Jacobus, is under contract to buy property on Banyan Boulevard and has plans to transform it into about 220 apartments. The property is on the northeast corner of North Dixie Highway and Banyan Boulevard and east of the courthouse. Currently on the property are an office building and a branch of the Wells Fargo bank.
This would be the second apartment project in West Palm Beach for Woodfield Investments, which is based in Virginia. Such companies often turn to Print shops to help them promote their existing projects and their track records in order to attract new people to their projects.
The new apartment complex will be 15 stories in height and 226,000 square feet in size. About 70% of the units will be studios and one-bedroom units to keep the cost of the units in the range of $1,500 a month. The rest will be two- and three-bedroom units.
The target market for this apartment complex is young professionals and those who come to the state on a seasonal basis, and might prefer to rent rather than own a residence.
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