Search
 

Fairfield Plans 486-Unit Apartment Complex

WEST PALM BEACH, FL-Fairfield Residential Inc. just purchased 29.5 acres of here to build the luxury community. Gould Electronics Inc. and Palm Beach Commerce Center Associates sold the land, in Vista Center Corporate Park, for approximately $9.5 million.

By Melissa Bogdany | Updated on January 23, 2003

WEST PALM BEACH, FL-Fairfield Residential Inc. has purchased 29.5 acres of land here from two owners. Now the company is planning to build a 486-unit luxury rental apartment community on the land.

The sellers were Gould Electronics Inc. and Palm Beach Commerce Center Associates. The sale price for the land, in Vista Center Corporate Park, was approximately $9.5 million, or $321,663 per acre.

Fairfield Residential could not be reached for further details of the project, but Richard Davis of Grubb & Ellis Co., a broker who represented Fairfield Residential in the land sale, tells GlobeSt.com that the company plans to break ground on the apartment community within the next 60 days.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.