Boca Raton residents have seen and definitely heard some changes in the area recently as construction crews have begun the process of revamping the cities downtown areas. Elad National Properties LLC—a Plantation-based developer, hopes the city will move forward with plans to construct another high rise condominium said to be open for interested buyers in November of this year. In the past five years, the amount of available housing located in eastern Boca Raton has increased by 1,443 apartments, boosting the amount of available luxury housing.
The high rise property would be called “Mizner 200” and would be built along Southeast Mizner Boulevard, just east of South Federal Highway. Just two years ago, construction began on a high-rise condominium and a luxury hotel that many saw as “the near-realization of a vision —one that calls for the heart of the city evolving into a metropolitan destination.” However, with the building of yet another high rise condominium in the heart of the city, some are seeing this as Boca Raton turning into the view you’d see in New York City.
In order to build this luxury condominium in Boca Raton, the city would have to tear down the existing property that is still currently leasing apartments to renters, called Mizner on the Green. Mizner on the Green is a development with 18 3-story buildings—totaling 246 town homes. If construction begins in the area, many residents of Mizner on the Green are worried they may be displaced in order to make room for demolition crews. However, according the the leasing office of Mizner on the Green, residents have the option to stay in their homes until 2018.
Mizner 200 would come just in time as the housing market has seen quite a nice jump in recent months. The complex will be built with two 600-foot wings at nine stories tall. Units will average around 2,200 square feet with a price tag of $700 per square foot. Parking will be surrounded by housing units, shielding it from the view of the street and the developer is focusing on making it as green and community friendly as possible.
While previous plans have received major resistance from residents in the area, developers and potential residents hope that the plan will be approved by City Council in the coming months.
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