The Boca Raton City Council has selected a developer to transform an aging downtown area near the Brightline station into a dynamic mixed-use complex.
The Boca Raton City Council unanimously approved a plan to revitalize a 30-acre City Hall campus, sprucing it up with "pedestrian-friendly" new amenities, according to the project.
The project, by Miami-based Terra Group and Frisbie Group, is part of a joint venture with the city, and it includes 2.5 million square feet of mixed-use space with just over 1,000 residential units, a park near the Brightline station, a pedestrian bridge toward Mizner Park, 157,000 square feet of retail space along with twice as much office space.
The developer plan includes an effort to “create a sense of place" that prioritizes "the pedestrian experience.”
“1.3 million square feet of commercial, residential and civic space are organized around a series of diverse urban spaces: public greens, retail markets, shopping streets, neighborhood plazas and landscaped parks," the plan projects.
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The bid was chosen over others competitors, Namdar Group, and RocaPoint Partners, and a bid from Related Ross, led by Miami Dolphins owner Stephen Ross.
The city council emphasized a community-focused project for the downtown area over business-centric. The developer expects to pay $5.1 million dollars annually for the lease and contribute $10 million dollars upfront.
City officials expect to finalize the agreement by March 18th.
