Affiliated Development

The City of West Palm Beach CRA is excited to announce the recent groundbreaking of The Spruce, a transformative affordable/workforce housing project in the heart of Historic Northwood Village by Affiliated Development! This 8-story, mixed-use development will feature 270 luxury apartment units that will be both stylish and affordable. The $50 million workforce housing project will offer residents easy access to local shops, dining, and entertainment in Northwood Village, and all just a mile from downtown. Key amenities include a co-work lounge, fitness center, rooftop pool, café, and more! 🌟 This project supports the City and Mayor Keith James vision of making West Palm Beach a Community of Opportunity for All by prioritizing housing for current Northwood residents, first responders, and teachers, while also creating local job opportunities. Stay tuned as we continue to Spruce up Northwood Village! 🌳 #AffordableHousing #CommunityRedevelopment #WestPalmBeach

We’re reaching new heights - literally! Check out the latest construction progress at The Spruce: ✅ 90% of foundations complete ✅ Underground plumbing rough-ins finished ✅ Parking structure Level 3 post-tension slab & columns poured ✅ AND a second tower crane is now in the sky! Stay tuned for more updates along the way. Affiliated Development

Busy week at Affiliated as we hosted a groundbreaking ceremony in West Palm Beach for our project, The Spruce, and a topping out ceremony in Hollywood for our 18-story high-rise, The Tropic. Combined, these projects will deliver over 230 (of the 500 total) workforce housing apartment units for cost-burdened individuals and families in Broward in Palm Beach Counties. We are incredibly proud of our project teams and thankful to our government partners for all they do to improve the qualify of life for South Florida residents.

Busy week at Affiliated as we hosted a groundbreaking ceremony in West Palm Beach for our project, The Spruce, and a topping out ceremony in Hollywood for our 18-story high-rise, The Tropic. Combined, these projects will deliver over 230 (of the 500 total) workforce housing apartment units for cost-burdened individuals and families in Broward in Palm Beach Counties. We are incredibly proud of our project teams and thankful to our government partners for all they do to improve the qualify of life for South Florida residents.

Yesterday, we had the pleasure of being invited to The Spruce groundbreaking! We’re thrilled to be working alongside Affiliated Development and RINKA on this project and can't wait to watch it come to life. The excitement in the air was palpable, and we’re so grateful for the opportunity to contribute to something that will make such a meaningful impact. Here’s to the start of something incredible! 🏗️✨ #TheSpruce #Groundbreaking #WhatsOnTheInsideMatters #BuildingTheFuture

LOAN Learn More: https://lnkd.in/eB4i7DHp IMAGE: Nick Rojo & Jeff Burns DATE: 08/30/2024 ADDRESS: 2501 Spruce Avenue MARKET: West Palm Beach ASSET TYPE: Development Site ~ ACRES: 1.5 LENDER: BMO LANDLORD: Nick Rojo & Jeff Burns - Affiliated Development; Grace Development Inc LOAN AMOUNT: $50,000,000 NOTE: Affiliated Development secured a $50M loan from Bank of Montreal to begin construction on The Spruce, a 270-unit, eight-story apartment building in West Palm Beach, set to be completed by 2026. The project, which received $7.6M in city incentives, will reserve 117 units for workforce housing. #Miami #RealEstate #tradedmia #MIA #WestPalmBeach #DevelopmentSite #NickRojo #JeffBurns #AffiliatedDevelopment #GraceDevelopment #BankofMontreal

On Tuesday evening, Crown Residential had the pleasure of attending the official groundbreaking ceremony for our client Affiliated Development’s new project, The Tropic, in Hollywood, FL. 🏗️ We were honored to celebrate the beginning of this exciting new development coming to the City of Hollywood, Florida. The Tropic apartments project will bring both market rate and workforce housing to the area, creating new opportunities for residents and contributing to the city’s growth and vibrancy. 🏢🔆 Ashley McIntosh Andrew Batista Rahman, PCM, CDMP, GPRO Jennifer Johnson Nicole D’Amico Patti Jourdin Javier Iglesias #crownresidential #thetropichollywood #hollywoodflorida #groundbreakingceremony

On Tuesday evening, Crown Residential had the pleasure of attending the official groundbreaking ceremony for our client Affiliated Development’s new project, The Tropic, in Hollywood, FL. 🏗️ We were honored to celebrate the beginning of this exciting new development coming to the City of Hollywood, Florida. The Tropic apartments project will bring both market rate and workforce housing to the area, creating new opportunities for residents and contributing to the city’s growth and vibrancy. 🏢🔆 Ashley McIntosh Andrew Batista Rahman, PCM, CDMP, GPRO Jennifer Johnson Nicole D’Amico Patti Jourdin Javier Iglesias #crownresidential #thetropichollywood #hollywoodflorida #groundbreakingceremony

Excited to get this closing over the finish line and finally go vertical in Hollywood! We navigated through a lot of volatility in the construction and debt capital markets. Special thanks to Patricia Lubian and the BankUnited team, KeyBank and Moss & Associates (Construction) for sticking with us and getting this done. Looking forward to delivering another impactful mixed-income workforce housing development to the South Florida market. #workforcehousing Affiliated Development https://lnkd.in/gU_Nknxz

We couldn't be more excited about this project. Affiliated maintains its commitment to partnering with local government to address the workforce housing crisis, and doing so by offering a best-in-class living experience regardless of income. The City of Fort Lauderdale and Broward County stepped up in a big way to ensure that over 200 units in The Era be offered to qualifying workforce households. Big shout-out to Fort Lauderdale and Broward County leadership for their dedication to housing, hard work and creativity! Can't wait to get a shovel in the dirt! #workforcehousing https://lnkd.in/ezgfjFyY