Financing for the development includes a $32.2 million tax credit equity from Bank of America; a $9.1 million conventional first mortgage loan from Berkadia/Freddie Mac; a subordinate $6 million Surtax loan from Miami-Dade County; and the balance with developer equity.
His dedication to urban development is underscored by his role as a board member of the City of West Palm Beach Downtown Action Committee, where he actively contributes to shaping the city’s downtown. His passion for community, placemaking, walkable communities, and transportation-oriented development demonstrates his commitment to sustainable urban planning and thoughtful growth.
He brings significant development management experience, having previously worked for top firms like Stiles Residential Group and The Morgan Group.
The project will rise on a 1.65-acre site at 6028 Johnson Street.
The residential community will cater to residents earning up to 60% of the area’s median income.
A company managed by New York-based DRA Advisors is the buyer. CLICK ON THE HEADLINE FOR MORE
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