The Downtown Boca Raton new construction craze continues with the latest project being Tower One Fifty Five. This condominium building, by Compson Associates Inc., is a twelve story building to be located on a 1.2 acre site on the 100 block of East Boca Raton Road. These 1, 2, and 3 bedroom condos will vary in size from 743 to 2,475 square feet, and are predicted to be moderately to luxury priced between $450,000 and $2,000,000, averaging at around 500 per square foot. There will be four (4) duplex-style 2-story penthouse units with soaring ceilings and expansive terraces offering views of the Atlantic Ocean, Downtown Boca, and the Boca Resort & Club golf course. In addition, several townhomes will line the exterior on the south side of the building, providing private yards to those few residents. Tower 155's condominium maintenance fees will be approximately 52 cents per square foot and will include insurance on the building, as well as resort-style amenities such as 24-hour security, valet parking, concierge services, under-building parking garage, two swimming pools, a fitness center, and more.
Tower 155 originally was proposed with 209 units, and then dropped to 192 units, then to 170 units, and finally(?) at 150 units. Fewer units will mean fewer residents, and thus less traffic, which was the main concern to begin with. Since the developers could have built an office project, which would have generated far more traffic, Tower One Fifty-Five won’t create a backup of cars on East Boca Raton Road. In fact, the project will have more parking spaces than required.
Tower 155 Boca Raton Developers
Tower 155 is being developed by Compson Associates, locally known for the luxury oceanfront condominiums Excelsior, also in Boca Raton. Architect Derek Vander Ploeg is designing the beautiful building. Vander Ploeg has designed several condominium buildings in the area including The Excelsior, Luxuria, Library Commons, 200 East, and a plethora of commercial buildings and shopping centers. Compson Associates are also the current owners and developers of the abandoned Mizner Trail Golf Course in central Boca Raton. Interiors by Steven G will decorate the luxurious interiors including the lobby, common areas, and the residence interiors, which include high-end finishes like Bosch stainless steel appliances, wood grain porcelain tile, quartz countertops, contemporary wood cabinetry, sleek bathrooms, and 10-foot ceilings, which will give them an advantage over most other condo projects in the area that have 9-foot ceilings. Interiors by Steven G has worked on several local projects including Akoya at Boca West, Las Olas Riverhouse in Fort Lauderdale, and many others. Ground breaking is planned for late fall or early winter, with the estimated project completion being at the end of this 2016.
The Tower 155 sales center is scheduled to open by the beginning of February 2015, and for those who simply can't wait, Compson Associates, Inc. has offered sneak peeks of the lobby and units on their Facebook page. Two model residences will be available for viewing in the sales center.
Boca Raton Condo & Apartment Boom
Tower One Fifty Five in Downtown Boca Raton is just one of the new high-density residential developments that the community has seen recently—Tower 155 is in good company with the likes of Akoya Boca West, The New Mizner On The Green, and The Mark at Cityscape (luxury rental apartments), Camden (luxury rental apartments), a new Hyatt hotel, Palmetto Promenade, and 327 Royal Palm, which are all in various stages of development.
Boca Raton's Vibrant Downtown Core
With an estimated 4,000 people currently residing in Downtown Boca, and many more on year-long waiting lists for high-end rentals, this new development is surely a welcome addition to the community. With few condominium listings in Downtown Boca Raton, Tower One Fifty Five will be in very high demand. The most recent condominium to be built in downtown Boca Raton was 200 East which was completed in 2008 after a difficult sales turnout due to the real estate market and high priced units.
For more information and to view listings currently for sale in Tower 155, click here or contact the Downtown Boca Raton real estate expert, Brian Pearl with Lang Realty at 561-408-0997.