SOURCE: City of Boca Raton and the developer
Map by Bonnie Lallky Seibert/The Coastal Star
By Steve Plunkett
Beachside condo opulence is coming inland to the west side of the Intracoastal Waterway in Boca Raton.
Citing a resurgence in the condominium market, architect Derek Vander Ploeg filed plans with the city in January to build a nine-story complex with 25 “pretty much luxury” units at 327 E. Royal Palm Road. The new residences will be about 3,400 square feet apiece.
“These will be the first units of that size off the beach,” Vander Ploeg said
Residences in the project, dubbed “327 Condominiums” for now, will be priced from $1.2 million to north of $2 million, he estimated.
The site is a block south of East Palmetto Park Road.
A four-story condo complex lies between it and the Royal Palm Yacht and Country Club to the south.
Owners of the pricier condos will be able to see not only the golf course but also the ocean, Vander Ploeg said. “The views are going to be pretty spectacular, especially when you get over the third floor.”
Vander Ploeg said the small number of units will attract a relatively homogeneous group of owners. “It’s almost like a vertical block,” he said.
The project comes after Boca Raton approved hundreds of smaller rental apartments downtown in recent years. Developers of those projects said banks would not finance condo construction.
“You can start to see the trend now starting to change,” Vander Ploeg said.
He anticipates getting city approval of the project by May and breaking ground before the end of the year.