Developer ZOM closes on Palm Beach Gardens site for planned rental complex

Developer ZOM Living is planning a 224-unit rental complex in Palm Beach Gardens, the South Florida Business Journal reported, and has closed on the site of the planned development. The Hamptons at Palm Beach Gardens project will be a joint venture with Northwestern Mutual Life on a 23-acre site purchased for $7.9 million. “The stability of the economic base in this market, together with an aged rental inventory and an incredible potential for high-wage creation, combine to make the Hamptons a very compelling investment,” said Greg West, president of ZOM. [SFBJ]