Shutts & Bowen Palm Beach Partner Harvey Oyer recently attended the groundbreaking for the Palm Beach Riverstone apartment building, a multifamily project with 370 units and a 150-room hotel in a Qualified Opportunity Zone.
The project’s California-based developer broke ground after recently obtaining a $72 million construction loan. The Shutts legal team handled the acquisition of the property, the zoning entitlements, site plan approval, construction loan, and management agreement -- led by Harvey. West Palm Beach partner Elizabeth Jones handled the acquisition and management agreement. Orlando partner Chadwick Crews handled the loan transaction. Harvey and land planner Roger Ramdeen handled the zoning entitlements and site plan approval.
The apartment building will include one, two, and three-bedroom units. Amenities will include a pool, dog spa, gaming area, bistro bar, sky lounge, grilling areas and electric car charging stations.
Palm Beach Riverstone was designed by Miami-based MSA Architects.
The developer acquired the 11.6-acre site for $9.5 million in 2019.
About Shutts & Bowen LLP
Shutts & Bowen, established in 1910, is a full-service business law firm with approximately 300 lawyers in offices in Ft. Lauderdale, Jacksonville, Miami, Orlando, Sarasota, Tallahassee, Tampa, and West Palm Beach. Learn more about Shutts & Bowen at www.shutts.com.