December 7, 2017 - South Florida Business Journal
BTI Partners and 13th Floor Homes has broken ground on Arbor Parc, which will have 500 single- family homes and townhomes in Riviera Beach.
The first homes should be delivered in the second quarter of 2018. They start in the $200,000s, making this one of the few new home communities in Palm Beach County that starts below the median home sales value. As of October, the median home sale in the county was $325,000 and only 1,490 of the 6,948 active listings were priced below $300,000, according to the Realtors of the Palm Beaches and Greater Fort Lauderdale.
“Arbor Parc offers a solution to our region’s affordability problem,” said BTI Partners Managing Partner Noah Breakstone. “The homes are designed for families who not only want to enjoy a comfortable lifestyle but also build wealth in years to come.”
Arbor Parc is at 4046 Woods Edge Circle, which is on the north side of Blue Heron Boulevard and just west of Interstate 95. The site includes a 10-acre lake. The developer will include three acres of green space and a mile-and-a-half bicycle path.
Florida Community Bank provided a $14 million construction loan for the project in September.
Homes in Arbor Parc will range from 1,558 square feet with three bedrooms to 2,086 square feet with four bedrooms.
“We have seen an incredible response from buyers since our sales launch that speaks volumes for the demand that exists for the community,” said Stefanie Mogull, VP of sales and Marketing for 13th Floor Homes. “By offering townhomes in addition to single-family residences, we are able to better meet the needs of buyers who are looking for well-appointed homes at a price point they can realistically afford.