Affiliated Development has secured $50 million in additional financing to move forward with an affordable housing project in West Palm Beach’s Northwood Village.
The Spruce, an eight-story, multi-family complex located off Spruce Avenue between 24th and 25th Street, will have 270 one-, two- and three-bedroom apartments, with 117 units offered first to city employees at below-market rents. The project will have ground-level commercial space, a parking garage and a dog park for residents.
In April of 2023, West Palm Beach and its Community Redevelopment Agency gave Affiliated $8.3 million in incentives and funding to bridge a funding gap the developer had with the project. The company said it got a “philanthropic grant” and participated in the Palm Beach County Workforce Housing Exchange program with a pair of home builders so it could build more affordable units.
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