Rybak pitches Live Local apartment tower in West Palm Beach
Rybak Development is planning an apartment development in downtown West Palm Beach under Florida’s Live Local Act, adding to the growing list of developers using the Florida law meant to create affordable housing. The project, at 534 Datura Street, is planned as a 25-story building with 262 rental units, according to designs submitted to the city. The half-acre development site, an assisted living facility, is owned by Fort Lauderdale-based real estate company Gold Standard of Care, led by CEO Michael Verbitsky, which bought the site for $3.1 million in 2009. The site contains the four-story Colonial Assisted Living nursing home […]This article originally appeared on The Real Deal. Click here to read the full story.
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