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New apartments underway

Shovels are in the ground for an eight-story apartment building, the latest residential project in the Park at Broken Sound.

The city expanded the former business park to include multi-family housing and set aside  new planned mobility districts https://myboca.us/472/The-Park-at-Broken-Sound.

This project, called the 5201 Building, will have 284 apartments, a large clubhouse, fitness and yoga rooms, business center, pet grooming room and an interior courtyard with a pool. A six-level parking garage will have 827 spaces.

An existing parking lot will be demolished, and the complex should take 18 months to build, according to the companies behind the project. There is no website or leasing center yet for the building.

Current Builders is also the company behind Uptown Boca, the new residential apartments and retail complex on Glades Road in west Boca. https://uptownboca.com/

The 5201 Building’s project development team is PG Mainstreet NCC 5201 Apartments, LLC, a collaboration between two South Florida developers comprised of Robert Mathias and father-son duo Paul and Brian Kilgallon. This is the seventh project Current Builders has collaborated on with Mainstreet Capital Partners and RLC Architects.

The project team is being led by Ryan Kelley, Current Builders’ partner and vice president of construction. Kelley will be joined by the same team that recently completed the Aura Boca project at the corner of Yamato Road and Congress Avenue, directly east of the 5201 project, which is open and leasing. https://www.bozzuto.com/apartments/boca-raton/fl/aura-boca/

The three firms have partnered on projects with a construction value of more than $100 million, the announcement said. This is Current Builders’ second project with Robert Mathias, president of New Century Companies. The firms partnered most recently on The Lumin, which was sold to Bell Partners Inc. for $56.5 million in the fourth quarter 2020. https://www.bellatbrokensound.com/

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