The bank is planning to relocate to a new, freestanding building on the property—which is under construction now adjacent to the site—in the fourth quarter of this year, the spokesperson says. Construction on the mixed-use project is scheduled to when the relocation is complete.

Plans call for the nine-story, 340,000-sf project to consist of as many as 146 residential condominium units, as well as two stories of office condominiums, ground-floor retail space and underground parking. The building, to be situated on 2.4 acres one block east of Federal Highway, will be developed in Mediterranean revival style designed by Vander Ploeg & Associates of Boca Raton.

The developer is still determining several of details of the project, the spokesperson says. Of the details not yet decided are the sf of retail space, the number of office condo units, sizes and pricing of the residences and parking capacity.

The new development will be located Downtown, an attractive area for businesses and residences. The submarket has been considered Palm Beach County's dominant corporate submarket, and, according to Cushman & Wakefield's fourth-quarter office report, "Boca Raton will remain a principal corporate environment in 2004."

Amera, a mixed-use, office and retail property developer, is known for its projects in South Florida and the Caribbean. The firm has completed South Florida projects totaling more than 700,000 sf. Also, the company, the master developer for the City of Coral Springs' new Downtown, has almost five million sf of space committed to be developed.

Instant Insights /

Boca Raton Approves $95M Mixed-Use Development

Related Stories

Recommended For You