The Real Deal Miami

Stiles resumes sales at Centra in Boca Raton

May 18, 2010 10:30AM


A rendering of a townhome at what was the Reserve at Blue Lake

Fort Lauderdale-based Stiles will resume home sales at its Centra
development on Saturday, three years after it scuttled its development
due to the downturn. The project, which has been remade — highlighted
by a colorful orange and lime green paint scheme — has also been
approved by the Federal Housing Administration, so buyers can get FHA
mortgages with just 3.5 percent down. Centra was formerly known as
Reserve at Blue Lake back in 2007, until work was ceased on the
project. The townhouse development, which is nine miles west of I-95
off of Yamato Road, will have homes in the range of $239,900 to
$363,900, a significant discount from the original prices, which
started at $675.000. [Palm Beach Post]