05 Oct UPTOWN BOCA CELEBRATES GROUNDBREAKING
BOCA RATON, Fla. – The official launch of construction for Uptown Boca, a $200 million pedestrian-friendly, mixed-use development was marked when shovels hit the ground during a ceremony today on the 38-acre site at Glades Rd. and 95th Ave. South in West Boca Raton, Fla. The development team of Giles Capital Group, Rosemurgy Properties and Schmier Property Group in partnership with Wheelock Street Capital celebrated the occasion with more than 100 guests including Palm Beach County Commissioners Mary Lou Berger and Steven Abrams, U.S. Rep. Ted Deutch and President of West Boca Community Council and Chair of the Palm Beach County Zoning Commission Sheri Scarborough.
“We are pleased to bring a quality development project like Uptown Boca to this the community,” said Alexander S. Rosemurgy, CEO of Rosemurgy Properties. “With no new significant development in over two decades, this type of lifestyle component is long overdue in West Boca. It will truly create the complete shop, dine, live experience that this area deserves.”
Uptown Boca will incorporate 150,591 square feet of upscale retail and 456 Class-A luxury apartments. Lucky’s Market and Silverspot Cinema will anchor the project which will also include Bolay, Chick-fil-A, and a variety of other shopping and dining options. Retailers are projected to open in summer 2019 with multi-family available in early 2020.
The Uptown Boca groundbreaking ceremony was followed by a reception featuring a “Taste of Bolay and Chick-fil-A.”
“This project is an especially meaningful project for us because we grew up in Boca Raton, and we are now raising our own children in this community,” said Brian Schmier, CEO of Schmier Property Group. “We feel privileged and excited to be able to bring such a unique, upscale destination to West Boca.”
Uptown Boca project consultants include: Retail leasing by Katz & Associates, Boca Raton; residential leasing and management by Bridge Real Estate Group, Boca Raton; Construction by Current Builders, Pompano Beach; residential architecture by MSA Architects from Miami, Fla.; retail architecture by Marc Wiener Architecture, Boca Raton; landscape by Design Studio Boca, Boca Raton; and multifamily interiors by Focus Design Interiors, Atlanta, Ga. For leasing information, please visit www.uptownboca.com.
For leasing information, please visit www.uptownboca.com.
About Giles Capital Group
Giles Capital Group is a real estate investment and development firm focused on multifamily rental communities in Florida. Over the past 30 years, founder Rick Giles has been responsible for the performance of over 25,000 apartment units throughout the southeastern and mid-atlantic regions of the United States. In 2013 Giles Capital Group teamed up with Rosemurgy Properties to form a joint venture, Park Partners Residential, for the purpose of acquiring, developing, and managing multifamily assets.
About Rosemurgy Properties
Founded in 1977 and headquartered in Boca Raton, Fla., Rosemurgy Properties is a privately owned commercial real estate development, investment and management firm. Portfolio assets include multi-family, self-storage, retail and office. The Company, which includes general contracting, property and asset management services, owns properties throughout Florida and the Carolinas. Rosemurgy Properties takes great pride in owning and developing outstanding projects in the markets they serve. For more information, please visit www.rosemurgyproperties.com.
About Schmier Property Group
Schmier Property Group is a diversified commercial real estate investment, development and management company located in Boca Raton, Florida. The principals, Brian Schmier, CEO, and Robert Schmier, President, have extensive development experience with a specialization in retail. The company invests directly and with partners across all asset classes including retail, office, industrial, self-storage and multifamily. Recent projects by the principals (through affiliate Schmier & Feurring Properties) include the ground up development of Park Place, the grocery-anchored retail portion of a mixed-use project located in Boca Raton, Florida, and the acquisition of a 2 million square foot Class A bulk distribution portfolio in North and South Carolina. Schmier & Feurring Properties began in south Florida in 1981 and has developed/owned over 1 million square feet along Glades Road, including University Commons, Towne Plaza, Corporate Center, West Boca Place, Somerset Shoppes and Mission Bay Plaza.
About Wheelock Street Capital
Wheelock Street Capital was formed in 2008 by Rick Kleeman and Jonathan Paul, two veteran real estate private equity investors, each with over 25 years of broad real estate transaction experience across all major asset classes. Wheelock has since raised over $2 billion in capital commitments and is currently investing its fifth fund comprising $725 million of commitments from leading pension funds, endowments and foundations. Wheelock will invest in a broad range of real estate assets throughout the United States. The fund may invest directly or with high quality joint venture partners through a variety of capital structures and transaction types, including acquisitions, restructurings, and recapitalizations.
Sarah E. Flynn
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