Commercial parts of Royal Palm Beach project advance
The commercial components of a mixed-use development in Royal Palm Beach are advancing through the town’s approval process. The development, called Cypress Key, was proposed in the early 2000s. Then the property went into foreclosure, and K. Hovnanian Homes acquired it in 2013. K. Hovnanian has built townhouses and D.R. Horton has built single-family homes at the development site near the intersection of Southern Boulevard and Forest Hill Boulevard.
Now South Florida developer Ron Sheldon is planning the commercial components of Cypress Key, including retail stores and restaurants as well as a daycare center and an assisted-living facility. The assisted-living facility would have 88,000 square feet of enclosed space and capacity for as many as 114 residents. Residents who need memory care would occupy the first floor of the assisted-living facility, according to Christopher Ressler of Studio+, the architect of the commercial components of Cypress Key. The 12,500-square-foot daycare center would have capacity for as many as 210 children. [Palm Beach Post] — Mike Seemuth
Source: The Real Deal