Thursday, December 8, 2016

Boca's Building Boom!

Boca's Building Boom!

Recently the Boca Raton Historical Society hosted a trolley tour of five buildings in various stages of construction in the downtown area. When completed these buildings will add @2,000 residential units to our tax base.
The first trolley stop was at 327 Royal Palm Road. This building and the others are all within a couple of miles from Boca Towers. This impressive condo community comes with an impressive price tag..Starting at 1.6 million, this is one of two owner's buildings on the tour.
Palmetto Promenade was the next stop of the day. This is a rental complex located across the way from Eye Catchers Optique. The owner of the optical shop praised all the buildings as highly beneficial to the commercial base of the city. Of course, the rentals are pricey.  The range is $2,000-$5,500/month depending on size and location.
101 Via Mizner was the third stop on the tour. A 366 unit rental community, the leases range from $1700/month.  Amenities here include golf club privileges. Boca City Walk, the 4th stop on the tour, is in the process of being occupied.  About 20% occupied since its August opening, amenities include a pool and courtyard patio.  Rentals start at $3610/month for a 2 bedroom apartment.
Tower 155 was also on this stop.  The condos here will range from $500,000 to 2.2 million.  Owners will be allowed to rent their units for 3 months twice a year.
Finally, the last stop was at the Residences at Mandarin Oriental.  This development is not offering anything for sale and sales reps are offering concepts to prospective owners.

That's the summary. So, what do YOU think?

Please comment. The blog needs more input.

Kay