Wilton Station Condos Surpass 90% Sell-Out

Five buildings, each containing two-story brownstone townhouse units on the first and second floors, follow in succession, with overall completion scheduled for second quarter 2006. The buildings are: Santa Fe, with all 44 units sold out; Flagler, with 89% of its 44 units sold; Pacific, with nine of its 43 units remaining; Frisco with six of its 46 remaining, and Grand Central with just three of its 45 units left unsold.

Units range in size from 1,033 sf to 2,175 sf, and the brownstone units begin at 1,261 sf and extend to 3,383 sf. "Prices begin in the mid-$300,000s and reach to $1 million," Marion Jacques, EDI's director of marketing, tells GlobeSt.com. Initially, a $105-million sell-out was expected, "but that number has been exceeded, and now sell-out is expected at about $120 million," she says. She declined to disclose the cost of acquiring the land, which is a 10-acre parcel that once housed a beer distributorship, or the construction cost. "Last year, the cost of construction increased 18%," she says, primarily because of the rising cost of materials.

The property in the heart of this island city has 300 linear feet of riverfront. Designed as a gated urban neighborhood with W Club as its centerpiece, it has a pedestrian-friendly village lane and landscaping with waterfalls. Fort Lauderdale-based Stiles Realty Group is handling the retail leasing, targeting a mix of local and national restaurants, service shops and boutiques.