Stonemont JV Breaks Ground on Health Care Center

June 19, 2026

Development Medical Office Miami News More Southeast

The development includes a hospital and a medical outpatient building in South Florida.

A partnership between Stonemont, Sina Cos., and Fengate Asset Management has started construction on two health care projects totaling 100,370 square feet in Palm Beach Gardens, Fla. The development will be delivered on behalf of Jupiter Medical Center, with completion scheduled for 2028.

Rendering of the Health Park at Avenir, a hospital and medical office project underway in Palm Beach Gardens, Fla. — Health Park at Avenir will include a two-story hospital and a three-story medical office building with oncology, cardiology and women’s health specialties, among others. *Rendering courtesy of Stonemont*

The project is known as the Health Park at Avenir. It will consist of a 53,370-square-foot neighborhood hospital and a 47,000-square-foot medical outpatient facility. Both buildings will be located within Avenir, a 4,752-acre master-planned community.

Landstar Development is the master developer of Avenir. The company sold the 13-acre site for Jupiter Medical Center’s facilities for nearly $5 million, according to Palm Beach County records. Siemens Financial Services provided $64.9 million in construction financing through two loans, the same source shows.

Taking shape at 12955 Northlake Blvd., Health Park at Avenir will be close to the Publix at Avenir Town Center. The city’s downtown area is 12 miles away, while Palm Beach International Airport is 19 miles southeast.

The three-story medical office property will include space dedicated for specialists across multiple services, including oncology, cardiology, women’s health, wound care, pain management and primary care services. The two-story hospital will have 29 inpatient beds, multiple operating rooms, 24-hour emergency department services, a diagnostic lab and imaging rooms.

Avenir is still under development. When completed, it will include 3,900 new homes, a Town Center with 400,000 square feet of retail space and 2 million square feet of office space. Common-area amenities at Avenir will feature resort-style clubhouses, a farm, over 2,400 acres of nature preserves and 300 acres of lakes, with walking, biking and jogging trails, a golf club, pet-friendly spaces and a Health & Lifestyle Club.

Medical office remains an investment target

Demand in the sector continues in 2026, driven by an aging demographic and limited new supply, among broader medical office building trends. Outpatient visits are forecast to increase over the next five years by 227.4 million, while the sector’s resilience attracted notable investors in 2025. This amounted to a sales volume of $11.3 billion, slightly lower than the $12.3 billion recorded in 2024, according to a JLL report.

Notable recent movement in the sector includes Kayne Anderson Real Estate’s closing of its largest equity fund, with some $5.1 billion in capital commitments. The acquisition target of the fund will go toward the company’s main asset types, including medical office, among others.

Meanwhile, an upcoming project in the sector is Buckhead Medical Center in Atlanta. CP Group is redeveloping four facilities in the city’s Piedmont Center mixed-use campus, with plans calling for an 85,000-square-foot medical office property.