Emerging neighborhoods: Families flock to west Boca Raton and Delray Beach

Features

Emerging neighborhoods: Families flock to west Boca Raton and Delray Beach
Delray Beach, FL
 
Published Friday, October 5, 2018 10:00 am
by Brian Bandell Senior Reporter, South Florida Business Journal

 Editor's Note: This is one in a series of articles on South Florida cities and neighborhoods outside of the region's well-known hot spots. They are places that have recently seen an uptick in residents as well as retail and residential developers. These are South Florida's emerging neighborhoods.

As more households move into the new luxury communities in the area, commercial developers are pushing west to follow their wallets. Jason Sher, principal with Boca Raton-based Banyan Development, said his 34,000-square-foot shopping center under construction at 8919 Atlantic Ave., on the corner of Lyons Road, is 80 percent preleased. Restaurants and retailers were drawn to the location because the household income within a 3-mile radius is about $94,000, he said. He’s also building a retail center at the southwest corner of Atlantic Avenue. and U.S. 441 that will include a Wawa.

“The residential boom here is second to none,” Sher said. “There’s a huge shortage of restaurants and retail to service all these new homes.”

See the gallery of places to be in west Boca Raton/Delray Beach, including the popular Delray Marketplace, four commercial centers under construction, and new and future communities by GL Homes.

GL Homes has built about 5,700 homes in the area west of Boca Raton, Delray Beach and Boynton Beach, said Misha Ezratti, president of the Sunrise-based homebuilder. It plans to build about 1,900 more homes there, he added. 

While many of the older communities in the area had small condos catering to seniors, such as Kings Point, GL Homes has developed communities with large homes and resort-like amenities. Instead of golf courses, GL Homes offers tennis, basketball and pickle ball courts, water playgrounds, and clubhouses with bars and play rooms. 

GL Homes is currently selling homes in the completed Seven Bridges and the under-construction Boca Bridges. In 2019, it hopes to launch sales of an 800-home active-adult community on Lyons Road, just north of Atlantic Avenue, he said. Meanwhile, it has the Boca Raton municipal golf course near Florida’s Turnpike under contract from the city, and is planning homes there, as well.

“We are bringing a very affluent buyer to this market and raising prices of the new homes,” Ezratti said. “A lot of wealthier people established themselves in the area because it is one of few places [in South Florida] left to buy new homes.”

Even the age-restricted communities in west Boca and Delray are changing. Blake Lapinsky, VP of sales for Pulte Homes in South Florida, said buyers in its Boca Flores 55-plus community are more affluent and physically active. They want walking and biking trails, and want to play sports.


Send this page to a friend

Recent News

ATLANTIC COMMERCIAL GROUP COMPLETES PROPERTY SALE IN DELRAY BEACH

Delray Beach, FL – Gary Broidis, Principal of Delray Beach-based Atlantic Commercial Group, Inc. recently handled the purchase of the former Max’s Harvest restaurant, located at 169 NE 2nd Avenue in the Pineapple Grove section of Delray Beach.

Beachfront hotel in Delray Beach sells for $25M

 The Wright by the Sea hotel along the ocean in Delray Beach sold for $25 million, or $862,069 per room

Emerging neighborhoods: Families flock to west Boca Raton and Delray Beach

The neighborhoods west of Boca Raton and Delray Beach were known for decades as a retirement community, with shuffleboard and early-bird specials, but now they're becoming an attractive home for high-earning young families.