The Real Deal Miami

Construction update, new renderings of $190M Akoya at Boca West project

Project has about $35M in presales, aiming for 2018 delivery

Akoya at Boca West construction site. Inset: Developer Richard Siemens

Updated, 3:45 p.m., Dec. 30: As construction moves forward on the first residential development at Boca West in about 20 years, the Siemens Group has released new renderings and photos of the project.

Akoya at Boca West, a 139-unit, nine and 10-story luxury condo building, has poured the first elevated decks after it completed foundation and site work in the fall, developer Richard Siemens told The Real Deal.

Siemens said of the $35 million in sales reserved so far, about half are from existing owners in the Boca West Country Club and the other 50 percent are from country clubs and luxury oceanfront homes nearby. Unlike in Miami-Dade, the project is requiring deposits of 25 percent rather than 50 percent. Prices go up to $3 million, he told TRD. It’s set to open in 2018.

In September 2015, Siemens transferred ownership of the 6.8-acre site for about $14.4 million. The development will be within walking distance of Boca West’s amenities, which include seven restaurants, four golf courses, 31 tennis courts and a 38,000-square-foot spa.

Siemens has experience developing country club communities, high-rise condos, office buildings, hospital campuses and shopping centers. While he said he owns other properties in St. Lucie and Marion counties, Akoya is his only development at the moment in Palm Beach County.

New renderings and photos:

Rendering of Akoya at Boca West

Construction site