Let the latest in luxury homes begin in Boca. At least for those looking for brand new homes. The Sun Sentinel reports that according to Fred Pfister, the VP of Toll Brothers, Royal Palm Polo is the "only brand new community in the city limits of Boca Raton." If you're into new, you're into this.
Though originally slated to start sales in May, the Toll Brothers pushed back the date until two model homes and the entranceway were completed. Contracts will begin to be accepted December 6.
The development will have 223 homes that range from four to eight bedrooms, with prices starting at $1.5 million. All lots will be 90 feet wide by 140 feet deep. While the homes will include pools and spas, shared amenities include a community pool, tennis courts, and a clubhouse.
According to Pfister, demand is strong with 1,800 people that have added their names to an interest list. Of course, these aren't aimed at first-time homebuyers and young families, who are struggling with down payments and mortgages. Mike Larson of Weiss Research finds that luxury buyers are channeling their wealth into real estate.
The Toll Brothers are no stranger to the area, having built this community next to Azura, another of their luxury developments. They bought the 121-acre Royal Palm Polo site, which were actual former polo fields, from the Oxley family for $80 million. The City of Boca annexed the land last year.
Buyers can expect to move in by early 2016.
· Royal Palm Polo home sales to start Dec. 6 [Sun Sentinel]
· Details on the Development [Toll Brothers]