South of Polo Club and Azura, we will soon see construction machinery and Toll Brothers crew starting to build a new gated community, Royal Palm Polo. It is the first new single family luxury homes community to be built in this area in many years. A model home is pictured above.
The Boca Raton City Council has given Toll Brothers the final approval to build 223 homes on 121.67 acres on the old polo grounds, single families, and a 5000 sq ft clubhouse with a resort-style pool, 6 tennis courts, state-of-the-art fitness center, spa and aqua lot. Purchase of the land cost $83.5MM.
Description of homes, many with lake views, includes mahogany front doors and big back yards. Plans are for each lot to be 90’wide and 140’ deep, and home will have 4 to 7 bedrooms and 3 or 5 car garages. There will be seven home designs to choose from. Features will include Sub-Zero and Wolf appliances, and optional elevator, 24” tiles in living areas, and there will be hundreds of design and structural options.
The Sales Office will open in spring.
Location is on Jog Road, north of Clint Moore Road. Just south of The Polo Club and Azura, a Toll Brothers property.
Homes will range from 4300 to 8500 sq ft and sell for $1.2MM to $2MM. The entrance and exit will be only off Jog Road. A wall and landscaping will surround the property.
Voluntarily annexing the site which is mostly vacant right now, the city could receive as much as $1.1MM in revenue annually between property taxes, fire and other homeowner fees. The future land use map was amended to designate the land for residential use, zone the land for single family residential and give tentative plat approval.
At a public hearing a Polo Club member said, "On behalf of the Polo Club we are in favor of this development. A housing consultant said, Royal Palm Polo’s price point is “exceptionally high,” but Toll should be able to sell plenty of homes there. “People are more optimistic and ready to buy.”
With mortgage rates still low, demand for new housing increasing, and improved consumer confidence amidst a shortage of existing homes, this new development appears to be a win/win. Toll Brothers project manager said, “We will move forward as quickly as possible.” For further information, contact Marilyn Jacobs at 561-638-9818.
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