Rich Properties’ Planned Townhouse Project Advances in Jupiter
550 Bush Road (Google Maps, Getty)
Rich Properties advanced its planned 35-unit townhouse rental development in Jupiter, which could soon replace a church.
The Jupiter Planning & Zoning Commission approved the 35-unit Seaglass Townhomes development at 550 Bush Road during a meeting last week. The vote passed with just one dissenter, commissioner Richard Dunning.
The property is currently home to Unity of Jupiter and a single-family home, developer Miles Rich told commission members. The Jupiter Town Council is slated to make a final decision on the project at its Feb. 21 meeting.
Rich Properties, a development and property management company based in Fort Pierce, bought the nearly 3-acre property for $2.5 million in August, records show.
The proposed project includes 35 townhouses, each spanning 1,465 square feet with three bedrooms, two bathrooms, and one half-bathroom, according to the plans Rich presented to the board. Five of the townhouses will be reserved for workforce housing, four of which will be specifically for Jupiter’s lowest income tier.
It is unclear if Rich Properties will be taking advantage of Palm Beach County’s $200 million affordable housing bond, which was approved in November and provides developers with a $10,000 subsidy per workforce housing unit built. The bond will fund up to 20,000 affordable units over the next decade. Rich Properties could not immediately be reached for comment.
The development will also include a private road, a pool and a leasing office, the plans show.
Rich Properties is pursuing silver level certification from the Florida Green Building Council, Rich told board members. Seaglass Townhomes would be the third project in Jupiter to receive a green building certification, according to Jupiter’s senior planner Peter Meyer.
Jupiter, a community known for its outsize population of professional golfers (like PGA champ Justin Thomas) and a luxury housing market, has attracted a number of multifamily developers in the last year. Pandemic-fueled migration to South Florida has brought a surge in demand across the tri-county region’s residential markets.
Berkshire Residential Developments bought a 390-unit Jupiter apartment complex for $202.5 million in April. Dallas-based S2 Capital bought a 359-unit Jupiter apartment complex that same month for $127 million.
