Time Equities released details of its mixed-use project near downtown West Palm Beach.
The New York-based firm began construction of CasaMara, an apartment and retail development at 3111 South Dixie Highway. It’s the site of a recently demolished office building.
The project is south of downtown West Palm Beach, in the El Cid neighborhood. As planned, CasaMara will have 300 Class A apartments with a 16,000-square-foot clubhouse and 16,000 square feet of retail space along South Dixie Highway. The retail portion will be called The Plaza at CasaMara, according to a press release.
Records show that a Time Equities affiliate paid $17.5 million for the property in 2006. M&T Bank is financing the project.
The 10-acre property will have seven low-rise buildings designed by MSA Architects with interiors by ID & Design International. The Plaza will have on-street parking, landscaping and a corner park.
Apartments will range from studios to three-bedroom units, and the amenities will include a resort-style pool with cabanas, a pool pavilion building with grilling stations and a water wall, a Jacuzzi, co-working lounge, fitness center, dog park, game room, club room, and children’s amenities.
Lincoln Property Company will handle leasing and marketing of the apartments, while Avison Young is the leasing brokerage for the retail. Don DeWoody of Avison Young said in the release that the firm is looking for retailers of wine, furniture, design, coffee and more.
The retail component is expected to open in the spring of next year.
In 2015, Time Equities planned to build five 15-story condominium buildings on the site. But the planned condo development drew opposition, and Time Equities halted work on the project last year before West Palm Beach city commissioners could consider whether to approve or reject it.