Friday, October 30, 2015

City of Lake Worth makes the big time: Breaking news in the SFBJ

If real estate, banking, and business news is an interest of yours then the South Florida Business Journal (SFBJ) should be on your daily list of sources for news. The little City of Lake Worth hit the big time yesterday with a breaking news item about the forthcoming Village at Lake Osborne. Here is an excerpt from the article by reporter Brian Bandell: 
AHS Development Group obtained an $11 million loan from TD Bank to commence construction of an apartment complex in Lake Worth.
     Village at Lake Osborne LLC, an affiliate of the Miami-based developer led by Ernesto Lopes, received the construction mortgage and recently broke ground on the project at 2430 Lake Worth Road. It’s slated for 118 units in three Key West-style buildings of three stories each. [emphasis added]
To learn more about the little City of Lake Worth use this link and this one too.

Below is a Tweet from Mr. Bandell on news out of Miami. To "Follow" him on Twitter click on the Follow icon below:
For those of you following real estate news in the City, you'll recall this was a City Commission agenda item late last year; item E.2.c.
The site is the red box in the upper left corner; you can see it's location in relation to Lake Osborne to the south which is unincorporated Palm Beach County (image from the PBC Property Appraiser).