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Ram Development Plans Condo Conversion

DELRAY BEACH, FL-The company is converting the 212-unit Lincoln Park at Delray Apartments here into condominium units. RAM Real Estate Co. purchased the community last fall.

By Melissa Bogdany | Updated on January 26, 2004

DELRAY BEACH, FL-Ram Development Co. of Palm Beach Gardens, FL, is planning to convert four-building Lincoln Park at Delray Apartments here into condominiums. The property, which is located at 1915 Lavers Circle in southern Palm Beach County, is being renamed Lakeside at Delray Condominiums.Last fall, Ram Real Estate Co. purchased the 212-unit apartment community from Rreef America REIT II. The purchase brought Ram’s total investment in the Delray Beach market to more than $80 million.

In November, Ram informed residents at the property of its plans to convert it and got a positive response, according to a spokesperson. Ram has plans for several capital improvements such as the already-under way construction of a new, freestanding fitness center with a clubroom. Other property improvements include carports at many locations in the parking lot and landscaping upgrades.

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