A significant financial milestone has been reached for the luxury Glass House Boca Raton condominium development. The project has secured a $70 million construction loan, paving the way for vertical construction to commence. This funding will support the completion of the nine-story, 28-unit building, which is slated for a late 2027 completion.
Key Takeaways
- A $70 million construction loan has been finalized for the Glass House Boca Raton luxury condominium project.
- Vertical construction is scheduled to begin in the second quarter of 2026, with full completion expected in late 2027.
- The development will feature 28 units, ranging from 2,504 to 3,865 square feet, with two- to four-bedroom layouts.
- Sales for the residences, priced between $2.7 million and $8 million, began in early 2024, with over one-third of units already sold.
Financing and Construction Details
Developer 280 E. Palmetto Park Road LLC has finalized the $70 million construction loan, provided by Maxim Capital. Arrow Real Estate Advisors facilitated the transaction. This new financing replaces a previous $9 million early-work loan from Maxim Capital, which funded the construction of an underground parking garage. Groundbreaking for the project occurred in April 2025, and foundational work is now complete.
Project Amenities and Location
Glass House Boca Raton will offer 28 exclusive condominiums, each ranging from 2,504 to 3,865 square feet, with floor plans featuring two to four bedrooms. The residences will boast modern finishes, including smart locks, high ceilings, private terraces, and stone countertops. The building’s design, led by GarciaStromberg, will make it the first modern glass structure in downtown Boca Raton. Amenities for residents include a rooftop deck with a pool, outdoor kitchen, fire pits, private cabanas, a fitness center, sauna, steam room, and lounge area. Each unit will come with two parking spaces.
The development is strategically located at 280 E. Palmetto Park Road, just one mile from the beach. It offers convenient access to The Boca Raton Golf Club, various retail and dining establishments, and is within walking distance of the Boca Raton Brightline station.
Market Context
The luxury condominium market in Boca Raton continues to see activity. Recent developments include the "Link at Boca," a 340-unit community, and "Modera Downtown Boca," a luxury apartment complex with 306 units scheduled to open in 2028. Condo sales for Glass House Boca Raton commenced in early 2024, with prices ranging from $2.7 million to $8 million. The project has already achieved over one-third in sold residences.