BOCA RATON, FL - Alliance Residential Company proudly announces the purchase of a 17-acre parcel of land in Boca Raton, where it plans to build a $62 million luxury apartment community consisting of 384 residential units called Broadstone at North Boca Village. The deal closed on Sept. 29 and Alliance anticipates initial lease-up to begin in the third quarter of 2012, with final completion expected in March 2013.
Broadstone at North Boca Village boasts a highly desirable location halfway between downtown Boca Raton and downtown Delray Beach. Situated along the North Federal Highway corridor less than a mile from the Atlantic Ocean, the site enjoys prime visibility, and will provide residents with convenient access to numerous retail and dining opportunities, and to the region’s employment centers.
“This is an exciting, new infill luxury residential community that will be the centerpiece for the redevelopment of the North Federal Highway corridor, which links the cities of Boca Raton and Delray Beach,” says Michael Ging, Managing Director of Development for Florida. “Our future residents will enjoy the latest in amenities and features that define luxury living while being within close proximity to Boca Raton’s beautiful beaches and downtown Mizner Park, as well as the exciting nightlife on Atlantic Avenue in downtown Delray Beach.”
Upon completion, Broadstone at North Boca Village will offer one-, two- and three-bedroom units averaging 997 square feet, along with optional attached and detached garages. The apartment homes will feature a complete stainless-steel appliance package, full-size washers and dryers, two-tone designer paint, granite countertops in the kitchens and bathrooms, and expansive 9-foot ceilings.
Alliance will blend the traditional Spanish Mission-style architecture of the community with modern amenities designed to appeal to a wide demographic, including a fitness center with the latest computerized equipment, putting green, yoga studio, business center, video gaming room, demonstration kitchen, cyber café, personal massage salon, wine and cigar room, and resort-style swimming pool area.
Company Information
Alliance Residential is a fully-integrated multifamily real estate operating company focused on the development, acquisition, construction and management of residential and mixed-use communities in the United States. Headquartered in Phoenix, Alliance has 17 regional offices divided among six regions throughout the U.S. Over the past 11 years, Alliance has become one of the largest private apartment owners and the 15th largest management company in the nation, boasting a $6.0+ billion portfolio, and 48,000 units in 24 metropolitan markets. Alliance has a presence in 15 states (including Arizona, California, Colorado, District of Columbia, Florida, Georgia, Maryland, Nevada, New Mexico, New York, Oregon, Texas, Utah, Virginia and Washington) and is actively seeking management, development and acquisitions opportunities across the markets it serves. For more information, visit www.allresco.com.