Market for luxury condos breathes life into downtown Boca Raton

$7 million worth of inventory sells in 3 months

BOCA RATON, Fla. - Waitress Liz Marie Eakin knows bacon and eggs, but it's lobster and caviar she's seeing more of lately.

"It has been picking up quite a bit because of the new condos coming in, the new real estate going up," says Eakin.

She's referring to 200 east, a building with condo-space worth almost $200 million, just two blocks away.

"A lot of customers are saying they're here to buy places which is nice to hear," says Eakin.

Nine units sold in just the last few months. Real estate broker John Poletto says it's a sign a transformation is well underway in downtown Boca Raton.

"It's a simplified urban lifestyle and this renaissance is part of where the city is going and the projects on plan now represent that but this is the flagship of that new development," says Poletto.

"People love the downtown area, they live, eat and shop and walk, being a downtown business it's wonderful," says Lynne Reiss, owner of Lifestyles of Lynne, a gift shop.

Lynne's has navigated the ups and downs of the economy since it opened 13 years ago.

"I think it's wonderful, I'm still a little cautious for some of the retail spending, it might be there for the homes, I'm hoping for retail people still have that confidence," says Reiss.

Of 115 total units, there are only about 25 still on the market. Poletto hopes with the way things are going, those will be gone by summer.

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