LXR properties named finalist in ULI 2010 Vision Award 'Project of the Year' competition

Online, June 21, 2010 (Newswire.com) - LXR properties named finalist in ULI 2010 Vision Award
'Project of the Year' competition

BOCA RATON, Fla. - One Thousand Ocean, Boca Raton's iconic, new condominium residence, joins the redesigned Boca Beach Club at the Boca Raton Resort & Club as a finalist in the 2010 Vision Award "Project of the Year" competition presented by the Southeast Florida/ Caribbean District Council of the Urban Land Institute (ULI). Construction of the residential and resort properties, owned by LXR Luxury Resorts and situated adjacent to each other, were treated as a single project by the ULI judges, as they are both located on the same private peninsula overlooking the ocean in Boca Raton and were concurrently developed/redeveloped starting in May 2007.

"We are delighted that ULI considers these beautiful properties, collectively, as a top-ranking contender for its prestigious industry honor," said Jamie Telchin, LXR's president of development. "ULI's leadership in the responsible use of land development and in creating and sustaining thriving properties is very much aligned with our own corporate thinking."

The award criteria requires the winning project to be physically within ULI Southeast Florida/Caribbean's geographic boundaries (i.e., in the counties of Monroe, Miami-Dade, Broward, Palm Beach, Martin, St. Lucie, Indian River, or in the Caribbean), and the project must be in stable operation, financially viable, and worthy of emulation. In addition, it must embody excellence in as many of the following categories as possible: Impact within the Community, Sustainability, Creativity, Land Use, Design, and or Public/Private Cooperation. Winner(s) will be announced on August 26th at a ULI Vision Awards Dinner at the Seminole Hard Rock Hotel in Hollywood, Fla.

The modern, seven-story, nautilus-shaped One Thousand Ocean encompasses one- and two-story Beach Villas, Residences and Penthouses. Its 52 residences average approximately 4,000 square feet with terraces that average approximately 1,200 square feet. Prices are from approximately $3 million to more than $15 million. Sixty-nine percent are under contract, including numerous residences that have already closed, with owners in residence.

Featuring a $115 million makeover, the 212-room Boca Beach Club evokes a fresh and modern concept with a stunning oceanfront Pool Oasis, new restaurants, redesigned meeting space, and remodeled rooms and suites. Hotel guests also may access the resort's main location just across the Intracoastal waterway, where world-class restaurants, spa, tennis, marina and golf facilities await.

Likewise, One Thousand Ocean residents who are Premier Club members at the Boca Raton Resort & Club are able to enjoy the amenities and services of this esteemed Waldorf Astoria Collection property.

The Sales & Design Center for One Thousand Ocean is located at 725 South Ocean Boulevard.For further information, call (561) 869-5000 to arrange for a private showing.

A 501(c) (3) non-profit research and education organization supported by its members, ULI was founded in 1936. It currently has members in 95 countries worldwide, representing the entire spectrum of land use and real estate development disciplines, working in private enterprise and public service. As the preeminent, multi-disciplinary real estate forum, ULI facilitates the open exchange of ideas, information and experience among local, national and international industry leaders and policy makers dedicated to creating better places.

For more information about ULI and/or to attend the awards presentation,call (954) 783-9504.