If you drive through East Boca Raton, which is the downtown area, you can’t miss the major construction going on. There are several large buildings under construction that will have retail space on the first floor, and condominiums on all the floors above. Once owners and renters fill the condo units and businesses fill the retail space, the downtown area will certainly realize a significant impact.
In addition to that, the first downtown hotel is being built at 120 E. Palmetto Park Road. According to a Sun Sentinel article, the Hyatt Place will open it’s doors during the summer of 2016. This is prime real estate for Hyatt, as visitors to Boca Raton will now be able to leave their hotel and walk to nearby attractions such as Mizner Park, Royal Palm Place, The Boca Raton Museum of Art, iPic Movie Theater, Trattoria Romana Italian Restaurant, many other restaurants and shops, and even the beach.
Both the condos and the hotel will obviously be great for downtown businesses moving forward due to the drastic increase in foot traffic. This expansion will also be a huge benefit to all of the residents of East Boca Raton neighborhoods, such as Royal Palm, Sun and Surf, Palm Beach Farms, Carriage Hill, Camino Gardens, Old Floresta, and Boca Square. Having a more exciting downtown area will create an even higher demand for homes in those neighborhoods than already exists. Now is the time to buy a home in East Boca Raton. If you think home prices are high and inventory is low now, wait another 1-2 years and see where they are.