By Mary Hladky
Groundbreaking is expected next summer for Boca Beach House, a 32-unit luxury condominium on Lake Boca Raton across the water from the Boca Raton Resort & Club.
Units in the four-story condo will start at $3 million and have two to five bedrooms, ranging in size up to 7,500 square feet. The project includes a 14-slip marina.
Miami developers Key International and Integra Investments purchased the 3-acre site, formerly owned by the resort, for $17.3 million in 2017.
At the time the purchase was announced, Key and Integra said they had acquired one of the last developable waterfront parcels in east Boca Raton.
Buyers who pay dues will be able to use the resort’s facilities, including restaurants, golf courses, tennis courts, pools and spa.
Billionaire Michael S. Dell acquired the resort last summer for nearly $900 million in the largest property deal in Palm Beach County history. It continues to be managed by Hilton under the Waldorf Astoria Hotels & Resorts brand.
The seller was an affiliate of Blackstone, a New York-based private equity firm that acquired the 337-acre resort in 2004.
Boca Raton has seen a spate of luxury development in recent years. Rising from the ground now are the 384-unit Alina Residences on Southeast Mizner Boulevard and the 92-unit Residences at Mandarin Oriental, adjacent to a Mandarin Oriental hotel, on Federal Highway north of Camino Real.