August 7, 2023
FOR IMMEDIATE RELEASE:
Diane G. Papadakos, Director of Communications
City of West Palm Beach – Mayor’s Office
(561) 822-1411 (TTY: 800-955-8771)
City of West Palm Beach and Housing Trust Group Celebrates Flagler Station: A New Affordable Apartment Community in Downtown
WEST PALM BEACH, FL – The City of West Palm Beach is thrilled to announce the successful completion of Flagler Station, an exceptional affordable apartment community developed by Housing Trust Group (HTG). This remarkable project, valued at $33 million, marks a significant milestone as the first new affordable apartment community to grace our downtown in the past 30 years.
Flagler Station, a public-private partnership between HTG, the City of West Palm Beach, and Palm Beach County, proudly presents 94 thoughtfully designed apartments, exclusively reserved for residents earning no more than 30, 60, 70, or 80 percent of the area median income. The rents for these apartments range from $393 to $1,689, ensuring accessibility and affordability for a diverse range of families and individuals.
Ideally situated in the heart of downtown, Flagler Station offers unparalleled convenience, being just one block away from the Florida TriRail/Amtrak station and a mere five blocks from the Brightline commuter rail station, establishing essential connections between West Palm Beach and the vibrant cities of Miami, Fort Lauderdale, and Orlando.
To commemorate this momentous occasion, a grand-opening ceremony was held, which brought together esteemed speakers, including Matthew A. Rieger, President and CEO of HTG; City of West Palm Beach Mayor Keith A. James; District 3 Commissioner Christy Fox; State House Representative Jervonte ‘Tae’ Edmonds, District 88; Executive Director Jonathan Brown from Palm Beach Housing & Economic Development Department, and Board Chairman Mario Facella of Florida Housing Finance Corporation.
Mayor Keith A. James expressed his delight in witnessing the realization of this transformative project, as it not only addresses the city’s housing needs but also contributes significantly to enhancing the fabric of our downtown community.
With Flagler Station now open to its new residents, the City of West Palm Beach takes pride in providing a home that fosters inclusivity, sustainability, and prosperity for all. This milestone reaffirms our commitment to creating a vibrant and equitable living environment, making West Palm Beach a place that residents can truly call home.
“We extend our heartfelt gratitude to Housing Trust Group for their unwavering commitment to bringing affordable housing to the City of West Palm Beach. This partnership marks a significant milestone in our journey towards a more inclusive and vibrant community. We eagerly anticipate the positive impact this development will have on the City and its residents,” said City of West Palm Beach, Mayor Keith A. James.
Located at 991 Banyan Boulevard, Flagler Station is an eight-story, high-rise property with a mix of one-, two- and three-bedroom apartments. Community amenities include a 3,200-square-foot, double-high multi-purpose clubroom, a computer/business center, a rooftop pool, a state-of-the-art fitness center, and on-site parking.
Named after Henry Flagler, the 19th-century industrialist who built the Florida East Coast Railway (FECR), Flagler Station’s site includes some of the original, now defunct FECR tracks, which have been incorporated into the development as part of a linear park featuring original artwork and murals. The City’s intent is to build out this park along the rest of the rail right of way to make it a true “rails to trails” conversion. This supports a transportation and mobility plan that the City adopted in 2018 featuring an integrated system of bike lanes, busways, train stations, trolley routes, sidewalks, and roads to reduce car traffic and make the city more pedestrian-friendly.
The building’s architectural design echoes the “brutalist” style that characterized the Old West Palm Beach City Hall, now demolished, and the Federal Courthouse buildings. With its partner, Corwil Architects, along with city officials, HTG delivered a design that is both contemporary and historic in its aesthetic. Archways were incorporated into the building facade to showcase structural elements while giving reference to the Beaux Arts architecture of Grand Central Terminal.
Financing sources for Flagler Station include $23.27 million in 9% low-income housing tax credits through the Florida Housing Finance Corporation (FHFC) that were purchased by CREA; a $20.3 million construction loan from KeyBank; an $8.93 permanent loan through Freddie Mac; a $75,000 City of West Palm Beach loan; a $314,446 Palm Beach County grant; and a $550,000 HOME loan from Palm Beach County.
The project team for Flagler Station is general contractor Rinaldi Construction, engineer and landscape designer WGI, Inc., architecture firm Corwil Architects, and interior designer B. Pila Designs.
About the City of West Palm Beach:
The City of West Palm Beach is a vibrant and dynamic City located on Florida’s Atlantic coast. With a rich history, a thriving arts and cultural scene, and a commitment to sustainability, the City of West Palm Beach is a great place to live, work, and play. As one of the three largest cities making up the South Florida region, and the central City of Palm Beach County, West Palm Beach is a vibrant, growing, waterfront City that offers the business advantages available in the region, combined with a more refined and relaxed environment for living and working. To learn more about the City of West Palm Beach, visit us on our official website, or follow us on our social media: Facebook, Instagram, Twitter, and/or Linked-in.
About Housing Trust Group
Housing Trust Group (HTG) is an award-winning full-service developer of multifamily residential communities whose real estate transactions exceed $3 billion in commercial, land and residential developments across Florida, Texas, Illinois and Arizona. HTG develops, builds and manages a diverse portfolio of affordable housing, workforce housing, market-rate housing, and mixed-use developments. For more information, please visit www.htgf.com.
Originally published at https://www.wpb.org/Home/Components/News/News/3569/772