New luxury condominiums are heading to downtown Boca Raton.
Known as 475 Royal Palm, the high-end project will feature 48 units in three 9-story buildings that overlook Lake Boca, the Intracoastal and the Boca Raton Resort.
“It is something very unique that we are bringing to the market,” said Group P6 Operating Manager and Boca Raton resident Ignacio Diaz. “The location just couldn’t be better.”
He said there will be two units per floor, which can be combined to one massive unit. Each tower houses 16 units.
Condos start at 2,750-square-feet with three bedrooms. If combined they can total 7,500-square-feet.
Diaz said the units that are combined will have 360 degree views with tons of light entering from all four sides of the unit.
“A very special thing about this project is the amount of light,” he said. “The concept of 360 degree units and combining those units is something that is going to be a huge success.”
Neighbors praised the addition of the project during a recent city council meeting.
“Its a tremendous addition to the neighborhood,” said Peg Anderson who lives nearby. “It’s my neighborhood, it’s my front door, I will go past this building every day at least twice. They have gone to every length possible to build a project in our downtown that we can be proud of.”
Boca council members agreed giving the project an unanimous vote of support.
“This is really a lovely building,” Mayor Susan Haynie said.
The contemporary Mizner-style design will include improved sidewalks, landscaping and green spaces and increased parking for the adjacent office building. Visible from the street will be two significant pieces of artwork: a pineapple, the symbol of hospitality and a sign of welcoming, and Palmetto leaves, which is synonymous with Boca Raton.
The project is the company’s second project in downtown Boca. Diaz said 327 Royal Palm, a 25-unit condo just south of Palmetto Park Road, should be opened this summer.
The new project is anticipated to go to market by the end of the year, he said.
In addition to developing two projects downtown, Diaz said the family-owned company has plans to relocate from Deerfield Beach to Boca Raton this fall.
“We live in Boca, our kids go to school in Boca, we love everything that is happening in downtown Boca,” he said. “We want to make it our headquarters.”