A new condominium project is set to come to the Sunshine State.
Developer Terence Siegel is planning to build the new condo on the shores of the Florida Keys.
Siegel, who founded a company called Condominium, said he plans to break ground on the condo sometime in 2018.
Sauer will be building a seven-story condo that will have four bedrooms, six bathrooms and a private pool.
The building will be a joint venture with the Palm Beach County Commission.
Settle for a smaller condo, say expertsRead moreIt is a rare development for the state.
The only other condominium projects to be built in Florida since 2012 are in Lake Worth, in Palm Beach Gardens and in Miami.
Sweeney said the project is unique because it is a mixed-use development that includes both commercial and residential uses.
“It’s a mixed use development, so it has both commercial uses and residential, and the condos will be divided between the residential and commercial uses,” Sweeney said.
“And, we’re building a condominium tower, so we’re going to have two levels.”
Siegel said he expects the condos to be affordable and accessible to low-income residents.
Singer said the condos would be built on a site that is approximately 2,500 square feet, but he would not specify a price.
He said it would likely be between $1,800 and $2,000 per square foot.
“I think this is a very rare condominium development in the state of Florida,” Singer said.
Simmons said he is optimistic that his condo project will attract a lot of interest from investors.
He added that the developers plan to hold a public hearing on the project.
Sigele was not available for comment.