The Altman Companies and J.P. Morgan Break Ground To Develop New Community

The community Altís Blue Lake In Lake Worth will feature 318 ultraluxe apartments accompanied by Class-A amenities.

BOCA RATON, FL (December 27, 2021) –  The Altman Companies, a nationally recognized developer, builder and manager of exceptional rental apartment communities, and J.P. Morgan Global Alternatives announced today the groundbreaking of Altís Blue Lake, a 318-unit Luxury Garden Apartment Community in Lake Worth. The investment was provided by the institutional investors advised by J.P. Morgan Global Alternatives.

“We are excited to have J.P. Morgan as our partner on this deal and to begin construction on Altís Blue Lake,” said Joel Altman, Chairman & co-CEO of The Altman Companies. “For over 53 years, The Altman Companies has developed a portfolio of rental communities that have delivered Exceptional Living Experience to our residents in Florida and across the country and we are very proud to begin the development of this upscale, environmentally friendly community in Palm Beach County.”

Altís Blue Lake will redefine the highest living standards through its unparalleled way of bringing residents an “Exceptional Living Experience.” Residents will enjoy exclusive membership to The Club within the community with direct access to a 24/7 fitness center complete with a yoga, spinning & aerobics studio; a Starbucks cybercafé with entree to workspace lounges & a private conference room and a game room. An additional roster of exclusive amenities at the 6,000-square-foot clubhouse will also include a resort-style swimming pool surrounded by pool cabanas, grilling stations, a wellness treatment room which will offer residents the perfect spot to relax and recharge, and a pool pavilion, which will be the perfect place to unwind and soak up the sun.

Altís Blue Lake will offer exceptionally appointed one-, two-, and three-bedroom apartment homes available with private entry, and direct access garage options. Interior features in each home will include spa-inspired bathrooms equipped with dual sink vanities, a spacious soaking tub and clear glass shower enclosures. The spacious floorplan comes complete with quartz countertops, 39” inch cabinets, front loaded washer and dryers, stainless steel and upgraded energy-efficient appliances.

Altís Blue Lake will be a pet-friendly community offering an indoor air-conditioned dog grooming spa where pets can indulge. A multi-purpose trail and a pet park with gated, off-leash area will be available in the community to allow residents to bond and play with their pets. The community will also be equipped with a hobby/craft room and a 24/7 automated package and dry-cleaning pickup station for residents’ convenience. The Class A multi-family community will include 696 parking spaces including direct access garages, as well as a mail kiosk, maintenance building, and trash enclosure. 

Altís Blue Lake will be Florida Green Building Coalition certified and its sustainable initiatives will include 100% energy efficient designer lighting, ENERGY STAR® refrigerator and dishwasher, a high efficiency water heater and sub-metered water stations and car charging stations

Convenience and prime location are high priority within the development plan, allowing easy access in all directions and 25 minutes from one of the largest growing metro areas in South Florida, West Palm Beach. 

“This transaction and the groundbreaking mark another significant development for The Altman Companies as we develop another exceptional Altís community in Palm Beach County,” added Seth Wise, co-CEO of The Altman Companies.  “We are delighted to deliver workforce and market-rate housing with a new standard of luxury, exceptional services, and exclusive amenities, to the Palm Beach area.”

Altís Blue Lake is set to have its first units delivered in 2023. To learn more about Altís Blue Lake, please visit https://altmancos.com

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