Real Estate Around About in Boca Raton

Posted by Jean-Luc Andriot on Friday, July 29th, 2016 at 6:07pm.

Boca Raton real estate news

Most people in the real estate business would say “it’s business as usual” around the "City for All Seasons". That is especially true with the many changes and updates the town has incurred over the past few months. This blog will help enlighten you to the vast majority of what’s happening around the Boca Raton area with an emphasis leaning on real properties. Get ready to get an ‘eye-full’.

*First, let’s take a look at the update of five subdivisions to join Boca Raton, found listed in the Sun Sentinel. Le Lac, Azura, Newport Bay, Boniello Acres and the Fieldbrook Estates will begin the annexing process once the homeowners of the listed developments make their decision to become a larger part of the city. The question will list on the November 8th ballot. For those interested in learning more about the proposal, contact city officials direct. However, the benefit will bring a ballpark figure of more than 764K to the city, which will use it for a multitude of needs. The other benefit is that of law and safety enforcement, making it easier to respond due to the separate zoning for Palm Beach County. For more information, click the link provided.

**Next bit of news to discuss, there’s a rumor that the Ocean Breeze Golf Course is under proposal currently to sell to a subsidiary. This is the only public championship golf course in Boca Raton which was recently closed. According to an article found in the Sun Sentinel, Wells Fargo is currently selling to the Lennar Group. Lennar is one of the nation's leading homebuilders today. Corporate officers at Lennar are anticipating over 600 plots. They are also going to build luxury multifamily units in the municipal course. This is the same location where Lennar asked for the city to swap land. The city will also benefit to cash awards from the deal if they agree. The other good news with this proposed deal is that it will create jobs and revenue for the city.

***Electoral candidates for the Greater Boca Raton Beach and Park District are all going through a bit of a skirmish to take the seat as representative. Currently, Dr. Dennis Frisch, Shayla Enright and Craig Ehrnst are competing to create high quality recreational spaces for those living and visiting the Boca Raton area. Each candidate exhibits great knowledge and expertise in the field which they are exploiting. They are looking to create more green space in the city, improvements to beach areas, include younger generations of involvement. They are also proposing the re-opening of the Sugar Sand park, including this as part of the candidate proposals. One common theme they all shared is a chance for the city to open communications with the district. They want the ability to complete projects in a timely manner, to be more efficient for the community they serve. For more information, please click here.

****My Palm Beach Post reported back on July 19th that a new development would be taking place for a luxury townhouse neighborhood, called Moderne Boca. This residence would include 75 units starting around $600,000, and host a floor plan of 3,000 square-feet. Phase 1 of these homes will not be ready until 2017 but will be a nice addition to the town, regardless.

*****Good news came from the Primary Mortgage Market Survey stating that the rates in the U.S. dropped to new lows once the Brexit vote took place. This of course affects everyone interested in obtaining a mortgage, including the Boca Raton area. As a result, more people are predicted to invest in real properties throughout the country, continuing to improve the economic upswing. The World Property Journal compiled the Freddie Mac News and included the following in their article posted on June 30th, 2016.

******According to the Sun Sentinel, Mayor Susan Haynie has put the call out to hear from residents regarding the 2.27 acres located at 551 E. Palmetto Park Road and leasing the land to the Hillstone Restaurant Group. The vacant lot and property it’s on, have gone unused for quite some time and has created a lot of controversy from residents to city officials. Many of the town’s people would like to see this property used as green space. Many residents are making a suggestion using the land as a park, installed on the Intracoastal. While city officials are comfortable to zone for commercial use the people's voices need a hearing. Council will vote on this August 9th and will appear on the November 8th ballot as well.

*******The community continues to flourish with economic growth by providing more jobs as well as inviting industry to re-locate to the area. Per WPTV News, Governor Rick Scott recently visited the Aerospace Technologies Group. Scott is investigating more possible companies and manufacturers to build their businesses on our soil. Other industries being targeted are also in the technology verticals and hospitality. Obviously, creating more jobs will stimulate the economy and bring more people into permanent housing.

********On July 19th, the City of Boca Raton announced they’ll be accepting online applications for planning and zoning. A new procedure has been designed to assist residents, architects, developers and anyone needing to visit city hall. The new system is called ProjectDox which is a new software to help with communication for the reviews. The system is currently in place, but will go live August 1st, 2016.
With all the current updates in place, it’s nice to visibly see everything that’s been accomplished. This information comes in handy for those wanting to invest in property in the area. The other benefit of seeing everything we’ve compiled in a snapshot creates an awareness of what’s happening throughout the community.

People interested in selling their home or property in the Boca Raton and Palm Beach County areas should contact our offices for additional information such as up to the minute updates on mortgages or speak to a luxury specialist for information about our current listings.

Leave a Comment