I’ve written several blog posts regarding the apartment, retail, and hotel development in progress throughout downtown Boca Raton, and the impact it could have on the residential neighborhoods close to the area. I just saw this article about the Palmetto Promenade at www.therealdeal.com, which makes me even more excited about real estate in East Boca Raton. This development will consist of 378 luxury apartments apartments and 11,000 square feet of retail space. The property is located on the North side of Palmetto Park Road just West of the drawbridge.
As mentioned in previous posts, other new developments coming to downtown Boca include Mandarin Oriental and Hyatt Place hotels, as well as additional apartment/retail space properties. If the apartments fill, which they certainly should, the new and existing retail and other businesses in downtown will flourish from the sudden boom in pedestrian traffic. This is exactly what this area has needed for a long time.
If you live in Palm Beach Farms, Carriage Hill, Camino lakes, Camino Gardens, Boca Square, Royal Palm, Old Floresta, or any of the other neighborhoods close to downtown, your home value will increase as a result of these new developments. If you are thinking about moving to one of the aforementioned neighborhoods, now is obviously the time to buy.
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