Downtown Boca Looking at New Wave of 459 New Apartments Valued at Estimated $70 Mil.

Not since the successful 28-acre Mizner Park shopping-housing-entertainment complex was started more than a decade ago has downtown Boca Raton seen such builder interest in multi-purpose projects.

Closest to the starting gate is Palmetto Place on Palmetto Park Road near Mizner Boulevard. Developer William Morris won approval in 1997 for retail and offices. Now he has obtained an OK from local planners to add 255 upscale housing units to the 140,000-sf complex. Apartments would average 1,000 sf and rent for $1,500 to $1,700 a month.

The Weir Building at 855 S. Federal Highway had been approved for development in 1998 as an eight-story, 154,350-sf commercial project. But developer Richard Brooks has revised his plan, replacing five floors of commercial space with 40 apartments (eight to a floor). This would add a ninth story to the structure but not change the original 100-foot height.

A third proposed venture is on Federal Highway at SE 3rd Street, former home of the Boca Raton News. It could include 164 apartments and total 53,000 sf.