Apartments signal Palm Springs’ new growth

Rental units add options as town keeps booming

PALM SPRINGS – Three multifamily developments are bringing more than 400 apartments to Palm Springs, a central Palm Beach County town long known for single-family homes.

The new projects are the Palm Springs Residences, which will bring 264 apartments to the site of the former YMCA; the Lakewood Apartments, with 96 residences built with an innovative construction system; and Village of Valor, an income-restricted complex for veterans and their families.

Over the last 10 years, the population in Palm Springs has grown over 40%, the fastest growth rate in Palm Beach County, to nearly 27,00 residents.

Palm Springs and its neighbor Greenacres have become the place where many families arriving in Palm Beach County from Latin America and the Caribbean rent and later buy their first homes. Apartments, however, have not been a priority in the past for the town, which consists mostly of single-family homes.

The new multifamily projects reflect a shift for Palm Springs as rents and home prices have risen and a once-affordable town has become increasingly less so.

Mayor Bev Smith said the apartment buildings will meet a big need for Palm Springs, which is home to many residents who are essential workers, have blue-collar jobs or work in the service industries across the county.

"Single-family, at this point, is unaffordable for much of your workforce, whether it be teachers, nurses,” Smith said. "These projects will be affordable to families and the working class and give residents what they need.”

Mast Capital, a Coconut Grove developer, will unveil a 264-apartment project next year on 18 acres along Congress Avenue and Lillian Road. It bought the former YMCA site last year.

The Palm Springs Residences will feature 11 three-story buildings with 96 one-bedroom, 120 two-bedroom and 48 three-bedroom apartments.