Main city center proposal story: Proposals present four visions for redeveloped city center
Other city center proposals: Namdar Group, Related Ross, RocaPoint Partners
Boca Raton City Center, Joint venture of Coconut Grove-based Terra and Frisbie Group of Palm Beach real estate developers
Boca Raton City Center was one of four firms that submitted a proposal to redevelop 30 acres of city-owned land around City Hall. The developer proposes a 99-year ground lease for the project, paying the city a total of nearly $1.5 billion, with three options for structuring rent payments. Developer states that the city would receive at least fair market value for the property. This chart is based on information provided to the city in advance of the City Council’s Jan. 27 meeting and may not include all later changes to the original submission.
Construction: To be built in three phases; first phase to include City Hall and community center
City Hall: Up to 100,000 square feet
Community center: 12,000 square feet
Police substation: 10,000 square feet
Retail: 84,790 square feet
Food and beverage: 71,800 square feet
Residential: 1,129 units, including workforce housing
Parking: Garage and surface parking; 265,758 square feet
Hotel: 150 rooms
Commercial: Office building, 250,000 square feet
Recreation and open space: A racket sports center, dog park, and many green spaces
Comments