The Kolter Group is finishing the first batch of three-story townhomes in a new gated development in Boca Raton.
Kolter said 30 units at Moderne Boca will be ready by late August, and the developer hopes to have 15 to 20 contracts in place by then. Kolter plans to start sales of the remaining 45 units in the fall, with the entire project due to be complete by the end of 2017.
The two- and three-bedroom townhomes range from 2,128 to 2,794 square feet, and prices range from $589,000 to $849,000. The community, which will include a swimming pool and fitness center, is at Spanish River Boulevard and Military Trail.
“It’s within 5 miles of just an unbelievable amount of amenities – restaurants, shopping, the beach and Mizner [Park],” said Bob Vail, president of Kolter’s urban division.
Vail said 45 of the 75 units will have elevators, while 31 units will have views of a nature preserve. The contemporary designs incorporate glass and porcelain tile.
Vail said country club residents, “empty nesters” and young professionals have shown strong interest in the project.
Anthony Trella, a homebuilding consultant based in Deerfield Beach, said three-story townhomes have sold “moderately well” in recent years.
“It’s a great location,” Trella said. “I can’t see why it wouldn’t be a strong success.”
David Cobb, regional director for the Metrostudy research firm, said Moderne Boca will be attractive to working professionals, many of whom are priced out of new single-family homes in southern Palm Beach County.
“This gets them in the Boca area,” Cobb said.
Kolter launched in 1993 when it bought Woodfield Country Club in Boca Raton. The company moved its operations from Toronto to West Palm Beach in 2004.
Last fall, Kolter started sales at Alton, a 1,300-home development under construction off Interstate 95 and Donald Ross Road in Palm Beach Gardens. It’s one of the largest new home communities in northern Palm Beach County since development of the John D. and Catherine T. MacArthur Foundation land holdings a decade ago.
Other Kolter projects include Water Club North Palm Beach, a 194–unit condo on the Intracoastal Waterway, and The Alexander, a 210-unit apartment building in downtown West Palm Beach. Kolter also is planning 48 condos at 5000 N. Ocean Drive on Singer Island in Riviera Beach.
[Source:- SunSentinel]
