More than 1,200 residences and 5,000-seat site planned for large property in Boca Raton

BOCA RON — Boca Raton’s sprawling 124-acre office park off Yamato Road is about to undergo a major renovation, with eye-catching plans for a mini “village”: more than 1,200 residences, a hotel and a 5,000-seat entertainment complex Venue to “House of Blues or Hard Rock Live”.

CP Group developers give Boca Raton City Council new details about their planned renovations Boca Raton Innovation Campusbetween Yamato Road and Spanish River Boulevard, just west of Interstate 95.

The site is the former headquarters of IBM and is one of the city’s most valuable properties. November 2021, DRA Advisors in New York, Invest $320 million According to Palm Beach County property appraiser records.

A major revamp of the Boca Raton Innovation Campus off Yamato Road is being planned. The project will include more than 1,400 residential units, a hotel, 1.3 million square feet of office space and a commercial and entertainment center.

The project aims to transform the office park into a village or town-like atmosphere, including:

  • 1,240 residential units
  • Hotels with 150-175 rooms
  • 1.72 million square feet of office space
  • 50,000 square feet of restaurant space
  • 76,000 square feet of general commercial space
  • A 40,000-square-foot grocery store
  • 5,000-seat entertainment venue
  • at least two parking garages
CP Group managing partner Angelo Bianco speaks at a Boca Raton City Council symposium on Monday. It will likely take about 10 years to transform the sprawling 124-acre office park along Boca Raton's Grand and Road, which will be done in phases, he said.

CP Group managing partner Angelo Bianco told city officials at a public meeting Monday that it could take about 10 years to build the entire property, which will be done in stages. Before construction could begin on the project, Bianco said they needed to replace the “sea of ​​parking lots” with two parking lots.

No specific details about the residential units were provided at Monday’s meeting. In 2021, CP Group initially plans to build 1,000 units and then increase the residential portion by nearly 25%.

The 5,000-seat entertainment venue is also new to initial plans starting in 2021. Bianco describes the venue as “more in line with the concept of House of Blues or Hard Rock Live”. Hard Rock Live in Hollywood is a 7,000-seat concert venue that often hosts big-name performers.billy joel and Bruce Springsteen and the E Street Band Planning to race there in the next two weeks.

Bianco said they were currently in talks with “one of the major operators in the country” for the entertainment venue.

The developer’s lawyer, Bonnie Miskel, said the site would be geared toward “off-peak hours,” which she defined as “evenings, weekends and holidays.”

Additionally, the site will include a large grocery store, which they “really need to do the job,” Bianco said.He added that they’ve had conversations with Amazon Fresh, “but they haven’t seen the big picture yet. [Road], I thought, ‘That’s a great location, but you want to be ‘in’ the town. ‘”

Boca Raton Mayor Scott Singer opposed the idea of ​​burying the supermarket “behind the property” because it “doesn’t help the neighboring community.”

“There is a supermarket near Yamato [Road] “Of course,” Singh said. “If we have to take detours to get some of these amenities, and they’re set back further, it makes them less efficient and potentially reduces the number of miles that vehicles travel on the road.” “

Boca Raton City Councilwoman Monica Mayotte is more receptive to the idea of ​​a more isolated concept. “If people can come in from outside the village, that’s a plus, but it’s considered a village.

“I like the concept because it doesn’t take people down the Yamato or the Spanish River,” Mayotte said. “They’re going to stay in this little village, so I think it’s a good idea.”

Monday’s presentation was meant to provide an update only, so there was no vote on the item. Site plans are still being finalized, Miskel said, ahead of a later city planning and zoning date.