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Trophy locations and brilliantly designed buildings have leapfrogged Boca Developers to the top of the South Florida market. How do they do it so well, so often?
South Florida CEO, Feb, 2003
"We never planned to be the most prolific, "says Boca Developers co-founder Brian Street, "but there was not doubt we were going to be unique."
In describing the quantum change Street's firm has brought to the booming Palm Beach to South Beach condo market, one local expert comments, "Their success forced everyone else so pick up and follow their lead"
One example, he notes, is the size of the residences Boca Developers designs. "Condominiums as big as a house were rare in South Florida until Boca Developers began offering models averaging over 3,000 square feet -- about 50% larger than the norm."
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Company co-founder Jim Cohen recalls, "We ran an ad campaign entitled Live Large and we handed out yellow tape measures. Is wasn't long before buyers were carrying our tape measures into our competitors' models. The message that we were significantly larger got across rather quickly."
But don't think it's simply a case of volume, says Street. "Size does matter... but early on we committed to a higher level of finish and features than the competition and -- here was the kicker -- our combination of bigger and better was still priced lower than our competitors."
The secret was simple construction math. It cost less to build fewer larger units than many smaller units -- fewer kitchens, fewer doors, less hallway and son on.
"As builders we knew how so deliver more size and value, "notes Cohen, "but our key decision was to go only so "A" locations -- on the golf course, on the water, on the beach.
This means we would always be the most desirable homes on the market."
Not content to offer the biggest homes at the best location for she best price, Boca Developers next developed their "High Style" concept.
"Every community where we build has its own style. "noses Street. "Boca is not Aventura, and Pompano is not Palm Beach. Our idea was to create the best of each community's style within our own condominiums."
"A good example is our bayfront tower in Aventura, The Peninsula. Our research showed that our buyers there already had access to all the golf and beach they needed, but many of them went on vacation so spas. Our answer: Build them a world-class spa right here at home. So we sent a team literally around the world, collecting ideas. You'll see the result when we open Peninsula in 2003.
And I think you'll agree we've raised the bar again."
Boca Developers' team has proven that they have the talent and depth to deliver properties well-heeled buyers love. Their next generation of properties -- now nearing design completion -- will create new untapped residential markets. Says Street: "Imagine a new town -- and what else can you call nearly 4000 new homes on 200 acres by the bay -- rising from scratch 5 minutes west of Aventura and the ocean. That's Biscayne Landing, and we're breaking ground in early 2003."
"Then imagine sleepy Pompano Beach revitalized like Delray, with signature oceanfront towers, new shops and restaurants along a boardwalk and pier, combined with the International Swimming Hall of Fame and US. Olympic team facilities....
"That's the scope of our magnificent Olympic Towers condominium and resort, coming in 2003."
"And that's just the beginning..."
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