Rockpoint, Kolter Partner on Palm Beach Gardens Apartments

• Rockpoint and The Kolter Group have formed a joint venture to develop The Sutton, a 432-unit apartment community in Palm Beach Gardens, Florida.
• The project will span 17.6 acres and feature five-story residential buildings with studio through three-bedroom apartments.
• Construction financing was provided by PNC Bank, with the community expected to be completed in 2028.

What the Development Includes

Rockpoint and The Kolter Group are expanding their presence in South Florida with plans for The Sutton, a new 432-unit multifamily community in Palm Beach Gardens, Florida. The joint venture also includes the acquisition of the 17.6-acre development site, marking another significant residential investment in one of the region's fastest-growing markets. The project will feature multiple five-story residential buildings offering a mix of studio, one-, two-, and three-bedroom apartments. Interior finishes will include stainless steel appliances and quartz countertops, targeting renters looking for modern, upscale living options. Residents will have access to a wide range of amenities, including a resort-style swimming pool, fitness center with a group exercise room, coworking spaces, a resident lounge, a children's play area, and an onsite dog park. PNC Bank is providing construction financing for the development, which is expected to be delivered in 2028.

What Makes Palm Beach Gardens Attractive

The Sutton will benefit from convenient access to both Interstate 95 and Florida's Turnpike, providing residents with easy connections throughout South Florida. The community is located approximately 12 miles north of West Palm Beach, an area that continues to attract new residents, employers, and investment. Palm Beach Gardens has become an increasingly active market for multifamily development as developers look to capitalize on sustained population growth and housing demand along Florida's east coast.

What This Means for Kolter's Growth Strategy

The Sutton is the latest addition to The Kolter Group's expanding multifamily pipeline in Palm Beach Gardens. Earlier this year, Kolter Multifamily proposed two apartment developments totaling 797 units in the city. The company is also developing Alton Palmetto, a 276-unit apartment community on Florida's Gulf Coast that broke ground in June 2025 and is expected to be completed later this year. The continued investment reflects Kolter's confidence in Florida's long-term rental housing market despite broader economic uncertainty.

What Other Projects Are Moving Forward

Development activity remains strong throughout Palm Beach Gardens. Last year, Abacus Capital Group secured a $77.5 million construction loan for Arbor House, a 302-unit luxury apartment community. More recently, Catalfumo Cos. obtained $401 million in financing for a 106-unit luxury condominium development that has been under construction since 2024 and is expected to be completed this summer. With multiple residential projects advancing simultaneously, Palm Beach Gardens continues to reinforce its position as one of South Florida's most active development markets.