Boca Raton board advances long-term lease for One Boca mixed-use development

David Martin, CEO of Terra
David Martin, CEO of Terra
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Developers David Martin of Terra and the Frisbie Group have moved closer to launching the One Boca mixed-use development after the Boca Raton Planning and Zoning Board unanimously supported a 99-year lease for the project. The board’s 7-0 vote allows the proposal to advance to the Boca Raton City Council, which will consider it on January 6. If approved by council members, city voters will have the final say in a referendum scheduled for March 10.

The proposed development would be located on and near 7.8 acres of city-owned land adjacent to the Brightline train station. Current plans call for construction of 765 apartments—including 77 designated as workforce housing—180 hotel rooms, 120,000 square feet of office space, a grocery store, and parking facilities. These would be built where the Boca Raton Police Station currently stands at 101 Northwest Boca Raton Boulevard.

Additionally, Terra and Frisbie intend to develop a separate mixed-use project with 182 condominium units on private land they are under contract to purchase at 141 Northwest Fourth Street.

The overall size of One Boca has been reduced from its original proposal earlier this year. Initially, Terra and Frisbie had pitched a much larger project spanning approximately 2.5 million square feet with more residential units and commercial space. The current plan totals just over 538,000 square feet of new development.

Despite reductions in scope, resident opposition remains strong. The group Save Boca organized efforts that led to a push for a referendum requiring voter approval before any sale or lease of public land larger than half an acre. Although a judge blocked such referendums in general—a decision now under appeal—the city council decided that voters should still decide on One Boca specifically.

Frisbie and Terra further scaled back their proposal by confining development east of Northwest Second Avenue. Memorial Park and other public spaces west of that avenue will remain open for public use and are slated for improvements including a new city hall, community center, recreational facilities, police substation, and parking garage—all to be constructed by the developers in exchange for a fee yet to be determined. The developers have also committed $7.9 million toward off-site public improvements.

Under terms of the draft lease agreement, Terra and Frisbie would pay the city annual percentages of gross revenues: seven percent from residential components and four percent each from retail, office, and hotel operations. Additional payments would be made if certain revenue thresholds are exceeded.

Deputy City Manager Andrew Lukasik told board members that “the lease also has strong default and termination rights for the city.”

Developers estimate that over time their project could generate more than $2 billion in rent and taxes for Boca Raton; however, critics have argued that actual revenues may fall far short—potentially less than $50 million over nearly a century.

Board members were directed not to weigh financial considerations but instead focus on whether the long-term lease supports transit-oriented growth consistent with downtown planning objectives.

“You will not be evaluating the leases themselves in terms of economics, nor the criteria used to select its [developer] partner, nor evaluating the [developers’] ability to implement the project,” Lukasik said.

Board member Gergory Mitchell voiced concerns about financial returns but urged city leaders “to get the best bang for our buck.” Timothy Dornblaser noted support for encouraging growth near mass transit hubs like Brightline station while board chairman Arnold Sevell said downtown redevelopment was overdue: “We have good momentum and I think we should keep it moving.”

Save Boca founder Jon Pearlman addressed board members directly about ongoing community resistance: “We are in power. We are in control,” he said at Thursday’s meeting. “This is just a show, and it is meaningless and we have the ultimate say and vote.”



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