A joint venture between Wexford Real Estate Investors (WREI) and Key International has acquired a two-acre development site for $25.5 million in Boca Raton, Florida where they plan a multi-family community.
“There is an incredible transformation taking place in Downtown Boca Raton. This vibrant city has seen remarkable growth and development,” said Philip Braunstein, Managing Principal of WREI. “We are excited to contribute to the changing skyline of downtown Boca Raton by adding a luxury development in the heart of the city.”
Situated at 14 SE 4th Street, WREI and Key International plan to develop a 12-story luxury residential development that will feature a well-appointed lobby, large units with expansive views and an extensive amenity offering on the fourth and twelfth floors. The amenity areas are highlighted by a large pool area, which includes a covered outdoor pool deck and lounge area for residents, along with an indoor and outdoor rooftop lounge area, where residents can enjoy the scenic ocean views and breezes.
“We’re thrilled to present our second residential development in Boca Raton,” said Inigo Ardid, Co-President of Key International. “This project represents a refined and design forward offering that further enhances Boca Raton’s reputation as one of Florida’s premier destinations for luxury living.”
The site plans include improvements to pedestrian connectivity and activation, with lush, landscaped areas and vibrant ground-floor uses along Southeast 3rd Street. Additionally, a sculpture will be added to enhance the pedestrian experience along the property’s frontage on Southeast 3rd Street.
“Boca Raton has great potential as a prime market for its strategic location and strong demographics,” said Joseph Jacobs, President of WREI. “With this project, our aim is to provide residents with a truly elevated, central living experience.”
