Source: Index Investment Group / Navarro Lowrey
WEST PALM BEACH, FL - Index Investment Group and Navarro Lowrey announced the unanimous vote (7-0) of site plan approval by the City of West Palm Beach Commission for their newest multifamily rental community “Centrepark Residences” in the heart of West Palm Beach, Florida.
Centrepark Residences will be a state-of-the-art multifamily rental community targeting young working professionals, located just outside the Downtown West Palm Beach city core, with convenient access to major highways and employment centers as well as protected bike lanes linking Centrepark Village (as Centrepark will now be known) to the Warehouse District and Howard Park. The property is located at 1885 Centrepark Drive East, West Palm Beach.
“Navarro Lowrey and I personally have been involved with Centrepark since 1994. First to revive it as an acceptable address for West Palm Beach companies, second to develop hundreds of thousands of square feet of office workspace, and now finally to complete the park’s transition to a true mixed-use community which we’ll refer to as “Centrepark Village”. I am honored to be partnering with Index Investment Group on this venture. They bring a wealth of experience successfully developing thousands of multifamily units in Florida which perfectly complements our West Palm Beach track record.” -Frank Navarro.
Index Investment and Navarro Lowrey acquired the property in August 2019 and are looking forward to breaking ground in the coming months with anticipated completion first quarter 2023. The property is a 2.2-acre parcel just down the street from popular local entertainment and restaurants destinations within the Warehouse District and the Downtown. The development features 231 units of multifamily rental apartments averaging a spacious 924 SF. The building will be 8 stories and feature a 7th floor pool deck, 24-hour business/conference center, integrated café/retail, outdoor fitness lawn, club room & sunset lounge, storage, bike repair & storage, package & food delivery areas, security via access control & CCTV as well as landscaped walking trails and greenways.
Index has made significant investments in the Florida multi-family rental market and commercial space. The Jupiter-based real estate investment company has ongoing and completed twenty-two developments across Central Florida to The Keys. Navarro Lowrey has owned Centrepark since 1994, developing, leasing, and managing a portfolio of over 500,000 RSF of office space within the Centrepark Office District.