Hyperion Group is partnering with Winter Properties to build a residential complex in West Palm Beach.
The complex will be on South Australia Avenue and be 17 stories high and have 425 units. There were some setback variances and changes in design for the project that were approved by the West Palm Beach Downtown Action Committee. The developers need to work with the city on a public space for the development and some changes to the design of the project.
There will be 278,000 square feet of residential space with units ranging from studio apartments and from one to three bedrooms. There will be a pool deck spanning 20,000 square feet and retail space to occupy 7,000 square feet. Brochure printing is often used for marketing and promoting such partnerships and developments in a city.
Winter Properties is based in New York while Hyperion Group, with Rob Vecsler as principal and CEO, has offices in New York and Miami. This is the first of their planned mixed use and residential projects that will range in cost from $100 to $300 million. The two companies plan to have in progress between two and three projects at a time and are looking at submarkets located in both major cities and secondary cities.
Construction on the project is expected to begin in July.
