33408

Palm Beach County

Construction has commenced on Northlake Promenade Apartments, a multi-family housing development in Palm Beach County. Led by AvalonBay Communities, the seven-story venture will offer 279 units.Of those units, 20 will be studios, 133 will be one-bedroom layouts, 102 will be two-bedroom layouts, and the remaining 24 will be three-bedroom residences. The building itself will measure about 85 feet above grade, making it the second tallest building in Lake Park. The tallest is currently Nautilus 220, which measures 24 stories above grade.Northlake Promenade Apartments will also offer 448 parking spots (54 more than the required 394), averaging to 1.45 spots per unit. Twenty of those spots will be reserved for electric vehicles. Communal amenities will include a swimming pool, co-working space, and park. The development itself will be connected to a commercial plaza that features a Publix.<a href="https://www.palmbeachpost.com/story/news/local/pbgardens/2024/05/16/seven-story-apartment-tower-in-lake-park-wins-ok-from-planning-boards-north-palm-beach-promenade/73669556007/">The Palm Beach Post</a> reports that as part of the project, AvalonBay Communities will invest in upgrades to that shopping center. The developer acquired the 9.05-acre site for $16.5 million in 2024. It anticipates having the first units delivered in the first quarter of 2027. Northlake Promenade Apartments will not offer workforce or affordable housing, as it’s not required to. <a href="https://www.rentcafe.com/average-rent-market-trends/us/fl/palm-beach-county/lake-park/">RentCafé</a> notes that the average monthly rent of a 1,025-square-foot apartment in Lake Park is currently $2,433.Northlake Promenade Apartments will be located at <a href="https://maps.app.goo.gl/SmyZAZBCA2voYU4g9">374 Northlake Blvd, North Palm Beach, FL</a>, 33408, in Palm Beach County.

33408 Zip Code Demographics