What’s up in the real estate market…

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Ocean Delray construction underway

Developers National Realty Investment Advisors (NRIA) and U.S. Construction have broken ground on Ocean Delray.

The official groundbreaking took place on Nov. 14.

Located at 1901 South Ocean Boulevard, Ocean Delray will be the first ever ultra-luxury, oceanfront residential development in Delray Beach.

The project features 19 residences priced from $5.7-$10 million. Designed by South Florida architect Randall Stofft, Ocean Delray is being built on a prized 1.8-acre piece of land formerly occupied by the Wright by the Sea Hotel.

“Our development is changing the way the real estate industry looks at Delray Beach,” said John Farina, President and CEO of U.S. Construction which is developing the project with NRIA. “This city has a rich cultural history and was ripe for new development. With Randall Stofft’s design and our team’s execution, Ocean Delray will take oceanfront living in South Florida to the next level.”

At the time of the groundbreaking, IMI Worldwide Properties, the exclusive sales and marketing representative for Ocean Delray, had already sold 40 precent of the project, totaling $45 million.  The project is expected to be completed in the first quarter of 2021.

“This is not a typical South Florida condo building. For people looking for the feel of a luxury, single-family residence, but the ease and amenities of a condo building, this is the place they want to be,” added Glenn La Mattina, SVP of Development at NRIA.

The team also unveiled the custom designed sales gallery, located at 1053 E. Atlantic Avenue. The sales gallery will be open starting November 18th from 9 a.m. to 7 p.m. Monday through Saturday and Sundays from Noon to 7 p.m.

The residences will range from 3,373 square feet to more than 4,400 square feet of air-conditioned living space.The 3-bedroom plus den to 5-bedroom residences, complete with 4.5 to 6.5 bathrooms, also offer expansive oceanfront terraces that add from 682 to over 2,300 square feet of additional living area with glass panel balcony railings that will create a seamless transition to the beachfront beyond. The site also features over 200 feet of ocean frontage and some of the widest seagrass dune lines in South Florida.

Residents will have a beachfront hospitality experience and access to a state-of-the-art Peloton experience room with the latest in exercise equipment and technology.

Boca Beautification Committee announces Landscape Excellence Award winners

The Boca Raton Beautification Committee recently announced the winners of the Annual Landscape Excellence Awards at Boca Raton City Hall with a luncheon for award winners, sponsors and the committee, sponsored by Lang Realty and Lang Management, that followed.

Annually, the committee honors local businesses for their landscaping efforts in several different categories. The recognition encourages businesses, homeowners associations and schools in the city limits to improve their landscaping and add to the beauty of Boca Raton.

This year’s winners included: Boca City Walk for Residential High Density Property; Build Masters for Industrial Small Property; 1700 NW 2nd Ave Building for Small Commercial Property; Library Commons for Residential Medium Density Property; Por La Mar Park for City Park; St. Gregory’s Episcopal Church for Place of Worship; and The Sanctuary for Residential Low Density Gated Property.

Mallory McCabe joins Boca West Realty at Boca West Country Club

Real estate and hospitality veteran Mallory McCabe recently joined Boca West Realty, the on-site real estate company located at Boca West Country Club.

She will work in the new company’s office within Boca West’s Golf & Activities Center, focusing on selling properties within the number one private residential club community.

McCabe will work closely with Boca West Realty’s Managing Broker Stephann Cotton and Glen Trotta Director of Sales.

“We are delighted that Mallory has joined the Boca West Realty team here at Boca West.  As the first Club in the area to benefit from a marketing initiative of this magnitude, Boca West Realty is uniquely qualified to manage the demand for properties at the Club and to market the homes and our amenities,” said Matthew Linderman, CCM, President and COO of Boca West Country Club. “Mallory’s experience in both hospitality and real estate make her such a strong edition to the team.”

McCabe is a South Florida native and was introduced to real estate at a young age. She obtained her real estate license just out of high school and sold homes to pay for her college education.  She graduated from Florida Atlantic University with a degree in Communications Studies and a minor in Business Administration. In addition to selling real estate in college, she worked in hospitality at Palm Beach’s Buccan, its sister restaurant Grato, and The Breakers.

“I am proud to join the team at Boca West Realty where I have the opportunity to combine my love for hospitality and real estate,” McCabe said. “As the top residential country club in the world, we have an incredible opportunity to showcase the variety of luxury properties within Boca West, but more importantly, showcase the amazing Boca West lifestyle.”

Angela Territo joins Engel & Völkers Delray Beach

Engel & Völkers has a new real estate advisor and broker associate.

Angela Territo recently joined the team and will serve Delray Beach, Highland Beach and Boca Raton.

”Angela makes a wonderful addition to our talented team,” said Lenny Felberbaum, License Partner of Engel & Völkers Delray Beach. “Our real estate advisors are highly trained, dedicated to their professions and truly understand our clients’ special needs in the high-end real estate market. I am confident that Angela will feel perfectly at home in our shop and will push us to even greater success.”

Territo joins Engel & Völkers Florida with nearly 40 years of experience in the real estate industry. In addition to her new position at Engel & Völkers Delray, Territo continues to operate her consulting company, Angela Territo Training & Coaching, LLC.

where she has coached over 50,000 realtors, broker owners and leadership teams.

“Not every real estate agent is the best fit for our shops,” explained Peter Giese, Growth Chief Officer of Engel & Völkers Florida. “Engel & Völkers has high expectations of its real estate advisors to participate in continuous training and to work toward a European definition of service that isn’t often found in real estate here in the Americas. Angela clearly can handle that challenge and will deliver outstanding results to her customers.”

Engel & Völkers Delray Beach currently employs 36 advisors and first opened its doors in 2016.

Delray Beach Housing Authority Receives Section 8 Management Assessment Program Certification from HUD

The Delray Beach Housing Authority (DBHA) received Section 8 Management Assessment Program (SEMAP) certification from the U.S. Department of Housing and Urban Development (HUD) with an overall performance rating of “High.”

This is the 19th consecutive year that the agency has received this rating.  The Section Eight Management Assessment Program measures the performance of the public housing agencies (PHAs) that administer the Housing Choice Voucher program in 14 key areas. The 14 indicators of performance show whether PHAs help eligible families to afford decent rental units at a reasonable subsidy cost as intended by Federal housing legislation. SEMAP helps HUD target monitoring and assistance to PHA programs that need the most improvement.

SEMAP enables HUD to better manage the Section 8 Housing Choice Voucher Program by identifying the Housing Authority’s capabilities and deficiencies related to the administration of the Section 8 program. SEMAP remotely measures the Housing Authority’s performance and administration of this program in key indicators, based upon the Housing Authority’s electronic certification, as evaluated against HUD data systems.

“Public housing and voucher programs provide decent and safe affordable housing for eligible low-income families, the elderly, and persons with disabilities,” Shirley Erazo, President and CEO of the DBHA said. “The Section 8 Management Assessment Program is designed to assess whether the Section 8 tenant-based assistance programs operate to help eligible families afford decent rental units at the correct subsidy cost. We are proud to have received a ‘High’ performance rating for the 19th consecutive year.”