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ABACOA’S FIRST HOTEL UNDER CONSTRUCTION

Posted by zzz - Lorea Thomson on Friday, May 10th, 2013 at 10:50am.

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Photo courtesy of Palm Beach Post.

Good news for Jupiter area residents and visitors of the "golf capital of the world", a beautiful Courtyard Marriot hotel is now under construction in the Abacoa community!  Construction for the 128-room hotel began on April 24.  It is scheduled to open in February, 2014 and slated to include 2,500 square feet of event space, a bistro style restaurant, a Starbucks coffee shop, full service-bar, state of the art fitness center, outdoor swimming pool, business center, and guest laundry. There will be street level commercial space for lease and parking will be handled by an existing parking garage adjacent to the hotel.

The hotel will be located at Main Street and University, across from Roger Dean Stadium for an estimated cost of $19 million.  Palm Beach County is providing a $2.3 million business loan gap financing from the U.S. Department of Housing and Urban Development (HUD) Section 108 Loan Program.  The developer is Jupiter CY, LLC, a subsidiary of Miami developer, Finvarb Group.   Bloomberg News describes the Finvarb Group “as one of the fastest growing real estate companies in the country specializing in developing quality hotels in premium urban locations and in emerging and underserved markets.”

It is anticipated that the hotel will serve as a commercial anchor to increase activity for businesses in Abacoa’s town center.  The Department of Economic Sustainability estimates that the project will result in economic impact of $31.4 million, 283 permanent, and construction jobs over a five-year period.

The new Courtyard Marriot will be a welcome addition to the planned community of Abacoa.  Homes within Abacoa have been highly regarded for their variety of individual neighborhoods composed of single-family homes, townhomes and apartments.  Families have the bonus of “small town feel” with a town center full of restaurants, shops, businesses, university and golf club with the additional luxury of being in a tropical paradise, just minutes from the most beautiful beaches on the Atlantic Ocean!  

For immediate information on properties marked within the Abacoa community, please email the specialists at AbacoaTeam@wfpcc.com.

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