A 127-unit multifamily project with retail, offices and green space is moving forward in Lake Worth Beach.
Deco Green will have four residential buildings on 2.3 acres, along with 8,000 square feet of retail and offices, according to a news release.
Miami-based Office America Group is developing Deco Green with an eye toward creating an outdoor community gathering space for yoga classes, picnics and art festivals. To that end, the development will include a 20,000-square-foot, landscaped area called The Courtyard, according to the release.
The Lake Worth Beach City Commission approved Deco Green last week, after Office America Group won a request for proposals from the city’s community redevelopment agency, according to the release.
Designed in a mix of Art Deco and Bauhaus styles, Deco Green will offer modern kitchens, walk-in closets and balconies overlooking the Courtyard. The project designer is Martin Architectural Group, with offices in Coconut Creek, Baltimore and Philadelphia. Artist Leonardo Moleiro will paint two murals on building walls.
Office America Group, led by founder and CEO Ricardo Hernandez, is a boutique real estate developer focusing on residential, office and mixed-use projects, according to the release.
Lake Worth Beach, a Palm Beach County city with access to the coast, is seeing some new development.
In May, the city approved the 230-unit Advantis multifamily development at the northwest corner of 10th Avenue North and Boutwell Road.
Also in Lake Worth Beach, Affiliated Development is building the 200-unit Bohemian mixed-income multifamily project, with 44 workforce housing apartments.
Developers are rushing to build multifamily projects amid an unprecedented demand fueled by locals returning to work and a population influx.
The pent-up demand is pushing up rents, as they have soared 7.9 percent on average across South Florida over the past year, according to Berkadia.