Kolter Group and Boston private equity firm Rockpoint are building a Class A rental community on a site that has been vacant for nearly 20 years. Institutional capital is betting that northern Palm Beach County needs more apartments.
- The Sutton is a 432-unit, five-story apartment community planned for Palm Beach Gardens.
- Kolter Group and Rockpoint formed a joint venture with a $107.8 million construction loan from PNC Bank.
- The project includes 54 workforce housing units and is expected to deliver in 2028.
Delray Beach-based Kolter Group is back in our coverage for the second time this month. This time, they have partnered with Rockpoint, a Boston private equity firm, to build The Sutton in Palm Beach Gardens. According to Rockpoint's press release, the 432-unit Class A apartment community will rise on a site the developers describe as "supply-constrained." PNC Bank provided a $107.8 million construction loan, and the venture paid $30.67 million for the land. Completion is targeted for 2028.
What is The Sutton?
The Sutton will be a five-story, garden-style community with 432 apartments (studios through three-bedroom units) spread across six buildings plus a clubhouse. The project sits on 17.64 acres designated for residential use, with a separate 3.41-acre parcel set aside for future commercial development.
Of the 432 units, 54 are set aside for Palm Beach Gardens' workforce housing program. That is about 12.5% of the project. So this is not purely market-rate, but it is also not a Live Local project with the 40% affordability requirement we see in places like Delray Beach.
Amenities include a resort-style pool, fitness and wellness spaces, co-working rooms, a resident lounge, dog park, playground, and a maker's studio. The developers are clearly targeting renters who want the suburban Palm Beach County lifestyle with urban-style amenities.
Why does the partnership matter?
As Larry Mastropieri explained on the Discover South Florida Podcast: "Rockpoint has handled roughly 100,000 multifamily units and $83 billion in peak capitalization. That is a huge number. This is not a small investor taking a random swing at Palm Beach Gardens."
Rockpoint was founded in 2003, and its team (counting predecessor firms) has been active in multifamily since the mid-1990s. When a firm with that track record chooses to develop (not just buy) in Palm Beach Gardens, it signals they read the submarket as supply-constrained with real demand. That is a vote of confidence in northern Palm Beach County.
Looking at rentals or investment properties in Palm Beach Gardens? Talk to a real estate agent in Palm Beach County who tracks new apartment inventory and rental trends. Reach out to The Mastropieri Group or call (561) 556-9853.
Where is The Sutton located?
The site sits about 400 feet north of Northlake Boulevard on the west side of the new Congress Avenue extension (which connects Northlake to Alternate A1A). That gives residents quick access to I-95 and the Turnpike, about 12 miles north of downtown West Palm Beach. The location is just east of Howell L. Watkins Middle School and near the Target/Costco stretch of the Northlake corridor.
This is more of an infill project compared to the big master-planned communities farther west. The site is the former Hilltop Gardens Mobile Home Park, which housed about 150 residents until it closed in 2007 after a 2005 sale. The land has sat vacant ever since. So The Sutton is taking a long-vacant site and turning it into new rental housing. That is a good transition for that little neighborhood.
How does The Sutton compare to Kolter's other projects?
Two weeks ago we covered Alton Delray, a 386-unit Kolter project built under the Live Local Act. That project requires at least 40% of units to be affordable. The Sutton uses a different affordability tool: Palm Beach Gardens' city workforce-housing program, where 54 of 432 units (about 12.5%) are set aside for middle-income households.
Kolter, based in Delray Beach and led by CEO Bobby Julien, has sponsored more than $40 billion in residential projects across the Southeast. The multifamily arm alone lists 23 communities totaling $3 billion in project value. So when Kolter pairs with Rockpoint on a 432-unit project, they are bringing serious institutional backing to a submarket they clearly believe in.
What will rents look like at The Sutton?
Rents have not been released yet. That is the number to watch when leasing opens. The developers argue Palm Beach Gardens is short on new apartments, and the rents they command will test that claim.
Here is where comparable Palm Beach Gardens rental communities sit today (mid-2026 snapshot):
Atlantico at Alton (13805 Emerson St): Built in 2017, 353 units, four stories, one- to three-bedroom plus townhomes. Rents currently range from approximately $2,800 to $5,200 per month.
The Point at Palm Beach Gardens (2100 PGA Blvd): Built in 2021, 136 units, five stories, one- to three-bedroom. Rents currently range from approximately $2,300 to $3,600 per month.
If The Sutton comes in anywhere near those numbers, it would be targeting the upper end of the Palm Beach Gardens rental market. The workforce units should come in below market rate, but the majority of the 432 units will likely price competitively with the comps above.
What else is happening in Palm Beach Gardens?
The Sutton is not the only major project reshaping Palm Beach Gardens. The city has been attracting serious capital across multiple property types:
Ritz-Carlton Residences Palm Beach Gardens: 106 branded luxury residences with a 29-slip private marina, nearing delivery. This project validates Palm Beach Gardens as a luxury residential market.
Avenir: GL Homes, PulteGroup, and Hearthstone paid a combined $107.4 million for 164 home sites in this 4,752-acre master-planned community. Full buildout includes 3,900 residential units, retail, medical offices, a hotel, and a 2,400-acre nature preserve.
Embassy Suites on PGA Boulevard: Joe Lubeck, CEO of one of the Southeast's largest apartment companies, paid $40 million for the hotel plus 4 adjacent acres as a personal investment. No development plans announced yet, but the land is on one of Palm Beach County's most active corridors.
The pattern is clear. Institutional capital is betting on northern Palm Beach County across luxury condos, master-planned communities, hospitality, and now Class A rentals like The Sutton.
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Frequently Asked Questions about The Sutton in Palm Beach Gardens
How many units will The Sutton have?
The Sutton will have 432 apartments ranging from studios to three-bedrooms. The five-story, garden-style community will be spread across six buildings plus a clubhouse. Of the 432 units, 54 are set aside for Palm Beach Gardens' workforce housing program.
Who is developing The Sutton in Palm Beach Gardens?
Kolter Group (based in Delray Beach) and Rockpoint (a Boston private equity firm) formed a joint venture for the project. PNC Bank provided a $107.8 million construction loan. The venture paid $30.67 million for the land.
When will The Sutton be completed?
The Sutton is expected to deliver in 2028. Construction financing is in place, and the developers have already acquired the land.
Where is The Sutton located in Palm Beach Gardens?
The Sutton is located about 400 feet north of Northlake Boulevard on the west side of the Congress Avenue extension. The site is near the Target/Costco stretch of the Northlake corridor, about 12 miles north of downtown West Palm Beach with quick access to I-95 and the Turnpike.
What was on The Sutton site before?
The site is the former Hilltop Gardens Mobile Home Park, which housed about 150 residents until it closed in 2007 after a 2005 sale. The land has been vacant for nearly 20 years. The Sutton is an infill project that will bring new rental housing to a long-underutilized site.
Local help for buyers and investors in Palm Beach Gardens
If you are buying, selling, or investing in Palm Beach Gardens, Jupiter, or northern Palm Beach County, understanding how new apartment inventory affects property values matters. Reach out to The Mastropieri Group, Realtors®.
For practical, hands-on support across Palm Beach Gardens, call (561) 556-9853.
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