A 106-unit rental community in Marathon at mile marker 50.5 oceanside is on track for a March 2016 completion date, the developer Index Investment Group says.
The developer broke ground June 19 on Tarpon Harbour, a 12.86-acre parcel that will consist of two- and three-bedroom, 2.5-bath duplexes with rents ranging from $2,000 and a little more than $3,000 in rent monthly.
Of the 106 units, 44 are market-rate and 62 are workforce housing. The market-rate townhomes are expected to be installed this summer. Workforce units, financed by the market-rate units, are expected to installed this fall.
In May 2014, the City Council parted with 43 affordable-housing permit allocations and 10 market-rate permits. Palm Beach Gardens-based Eastwind Development President Jack Weir had to buy nine market-rate permits on the open market before he could start construction.
According to a prepared statement from Index Investment Group, the units will comprise 52 buildings ranging from 1,080 square feet to 1,560 square feet. A clubhouse and two community swimming pools will be built.
The target household incomes for prospective renters are from $60,000 per year to $100,000 per year.
Eastwind Development is unrelated to the low-income Eastwind Apartments housing complex on Sombrero Beach Road.