Stonemont Joint Venture Breaks Ground on $64.9M, 100K SF Health Park in Palm Beach Gardens

• A joint venture between Stonemont, Sina Cos., and Fengate Asset Management has broken ground on a 100,370-square-foot health care development in Palm Beach Gardens, Florida.
• The Health Park at Avenir will include a 53,370-square-foot hospital and a 47,000-square-foot medical office building for Jupiter Medical Center.
• The project is expected to be completed in 2028 and is backed by $64.9 million in construction financing from Siemens Financial Services.

What Is Being Built at Health Park at Avenir

Construction is officially underway on Health Park at Avenir, a new health care campus planned for Palm Beach Gardens, Florida. The project is being developed through a partnership between Stonemont, Sina Cos., and Fengate Asset Management on behalf of Jupiter Medical Center. Located at 12955 Northlake Blvd. within the Avenir master-planned community, the development will span approximately 100,370 square feet across two buildings. The campus will feature a 53,370-square-foot neighborhood hospital alongside a 47,000-square-foot medical outpatient building. The project sits on a 13-acre site within Avenir, a sprawling 4,752-acre mixed-use community that remains under development.

What the New Medical Facilities Will Include

The two-story hospital will offer 29 inpatient beds, multiple operating rooms, a 24-hour emergency department, diagnostic laboratories, and imaging services. Meanwhile, the three-story medical office building will provide space for a wide range of specialties, including oncology, cardiology, women's health, wound care, pain management, and primary care. Renderings for the project show a modern medical campus designed to expand access to health services for residents in the growing Palm Beach Gardens area.

What Financing and Development Details Have Been Revealed

Landstar Development, the master developer behind Avenir, sold the 13-acre development site for nearly $5 million, according to Palm Beach County records. Construction financing for the project totals $64.9 million and was provided by Siemens Financial Services through two separate loans. The health care campus is expected to open in 2028.

What the Avenir Community Will Look Like at Full Build-Out

Health Park at Avenir will become part of one of South Florida's largest master-planned communities. Once complete, Avenir is expected to include approximately 3,900 homes, 400,000 square feet of retail space within a town center, and roughly 2 million square feet of office space. The community's amenities are planned to include resort-style clubhouses, a working farm, more than 2,400 acres of nature preserves, 300 acres of lakes, extensive trail systems, a golf club, pet-friendly areas, and a health and lifestyle club.

What Continued Demand Means for Medical Office Development

Medical office properties continue to attract investors as demand for outpatient services rises across the country. Industry forecasts project outpatient visits will increase by more than 227 million over the next five years, while an aging population and limited new supply continue to support long-term sector fundamentals. For developers and investors, projects like Health Park at Avenir highlight the ongoing appeal of health care real estate, particularly in high-growth Sun Belt markets such as South Florida.