Miami Living Magazine
September 17, 2023
Meyers Accesso, a leading developer of high-quality residential and mixed-use properties, today announced it has secured $46.2 million in financing from American Equity Investment Life and SteepRock Capital to advance the development of a 200-unit multifamily community in Palm Beach County, Florida, called Avery Lake Worth.
Optimally located south of 10th Avenue North on Boutwell Road in Lake Worth Beach, the property benefits from ease of access to Interstate 95 and close proximity to employment centers and many of the area’s most desirable amenities, including shopping, dining, entertainment and beaches. Construction is expected to begin this summer.
Avery Lake Worth will consist of two five-story buildings with surface parking and a shared outdoor common area that will include several resort-style amenities, such as a swimming pool, an artfully curated green space, outdoor grilling stations, a dog park and wash, a viewing/picnic area that overlooks a state approved bird sanctuary and more.
What’s more, residents of Avery Lake Worth will have access to a state-of-the-art clubhouse with a lobby area and kitchen and bar, fitness center with high-tech exercise equipment and free weights, and business center with collaborative workspaces and private cubicles, as well as a yoga studio, a game room with pool and poker tables, an Amazon package room and indoor bicycle storage.
Adding to the community’s appeal is its location within 30 minutes of downtown districts in Lake Worth Beach, West Palm Beach and Boca Raton, as well as Lake Worth Lagoon, Lake Worth Beach Golf Club, The Palm Beaches, and several other attractions.
“Our ability to obtain this loan, especially at a time when commercial real estate financing has become incredibly difficult to come by, is a clear reflection of the strength of our development plan and our deep understanding of the housing needs in this market,” stated Ariel Bentata, Co-Chairman and Co-CEO of Meyers Accesso.
“There is significant demand for rental housing that provides an elevated living experience and access to the best that the area has to offer. We look forward to breaking ground on Avery Lake Worth and adding much-needed supply to help address the rental shortage in Palm Beach County.”
Avery Lake Worth will offer a variety of one- and two-bedroom floorplans, each featuring a suite of modern amenities.
All residences will be constructed to allow an abundance of natural light to permeate throughout living areas and open spaces, and will feature quartz countertops, stainless-steel appliances, in-unit washers and dryers, private balconies, keyless entry and more.
Residents of the property can also enroll in Avery Club, an exclusive concierge club that provides access to wellness coaches, fitness classes and more benefits through an app.
“We are thrilled to move forward our development plan for Avery Lake Worth,” commented Stuart Meyers, Co-Chairman and Co-CEO of Meyers Accesso.
“There is a serious need for the type of product we are developing in this market as a result of the high number of individuals, families and businesses who have moved to the area over the past few years in search of better quality of life.
Once complete, Avery Lake Worth will provide the many rental seekers in Palm Beach County with a high-quality, resort-like destination that combines hassle-free living with luxury on demand.”
Avery Lake Worth is the second property Meyers Accesso is developing alongside its Limited Partners, Atlantic American Partners, joining Avery Dania Pointe, a 264-unit class A multifamily property in South Florida that was constructed in 2020.
Pre-leasing on Avery Lake Worth is slated to launch in spring 2025, with construction expected to be completed shortly thereafter.
About Meyers Accesso
Meyers Accesso is a South-Florida-based investment, development and management firm specializing in the ground-up development of class A multifamily and mixed-use properties.
Founded in 2022, the company combines the experience and resources of two prominent institutional-quality real estate firms – Meyers Group and Accesso – to design and construct high-quality, upscale properties that yield long-term benefits for both tenants and investors.
The company is founded on the principles of integrity, transparency and quality, and is committed to building places and spaces that people are proud to live in and visit. For more information, please visit www.meyersaccesso.com.