Boca Raton city officials said Tuesday they will continue talks with developers Terra and Frisbie Group about a proposed redevelopment project on 31 acres of public land, despite organized opposition from residents.
At the city council meeting, John Pearlman, founder of the grassroots group Save Boca, told council members that volunteers had gathered 5,200 signatures for an initiative ordinance. This measure would require any sale or lease of more than half an acre of city-owned land to be put to a voter referendum. Once the signatures are certified under Boca Raton’s city code, the council must either approve the ordinance or call a special vote within 30 to 60 days.
“The voice of the people is stronger than ever. They’re saying stop this project, they don’t want it,” Pearlman said.
Many residents argued that voters should have final approval over a potential 99-year lease between Boca Raton and the Terra-Frisbie joint venture. The proposal includes building a 1.5-million-square-foot “government campus” on public land that encompasses Memorial Park. More than 30 residents attended in protest, many wearing Save Boca t-shirts.
Mayor Scott Singer acknowledged that negotiations may extend past October but emphasized the need to keep moving forward and gather broader community input. “I think we are getting close to evaluating a plan that makes sense financially,” Singer said. “That we should just stop tonight, that is not giving an option.”
The interim plan approved by the council in June allows Terra and Frisbie Group to develop 912 residential units, 150 hotel rooms, 350,000 square feet of office space, and about 152,000 square feet for retail and restaurants near the Brightline station. In return, Boca Raton would receive $5.1 million annually in rent plus an upfront payment of $10 million; terms remain under negotiation.
Frisbie Group co-principal Rob Frisbie Jr. stated: The project would generate $3 billion in revenue over the next century. He also said: The net present value of the revenue from the 99-year lease is more than $350 million, which is enough to pay for needed infrastructure improvements on public land dating back to the 1940s and 1960s as well as public amenities.
The developers have committed to building new parks and facilities: “20 new mini-parks,” street realignment by the downtown campus area, and construction of a new community center, city hall and police substation. City officials noted existing facilities are deteriorating or outdated.
Residents at Tuesday’s meeting voiced concerns over removing recreational features such as baseball fields and tennis courts from Memorial Park—originally dedicated to World War II veterans—and eliminating Tim Huxhold Skate & Shuffle Board Park as part of redevelopment plans. Replacement amenities include new tennis courts at Meadows Park (two miles away), four baseball fields at Sugar Sand Park (three miles away), and a new skatepark at North Park (four miles away).
Council Member Andy Thomson opposed the project citing its scale, traffic impact and loss of recreation areas while pointing out an independent audit won’t be ready until late September. He added: “The increasing number of residents speaking out [against this project] reflect in my view an erosion of trust. They don’t trust this process.” Thomson called for delaying or putting it to referendum.
Other council members said no final decision has been made; both parties could still withdraw from negotiations if needed. Mayor Singer also noted Thomson previously supported another development bid for offices on this site earlier this year.
Interest in downtown Boca Raton remains strong among developers due to population growth in affluent sectors nearby. Recent approvals include James and Marta Batmasian’s two hotel towers by Mizner Park as well as Group P6/Mill Creek Residential’s apartment building at South Dixie Highway (https://therealdeal.com/miami/2024/06/19/batmasians-get-backing-for-two-hotel-towers-by-mizner-park-in-boca-raton/, https://therealdeal.com/miami/2024/06/18/mill-creek-gets-ok-for-12-story-apartment-project-in-boca-raton/).
Elsewhere in Palm Beach County, Frisbie and Terra bought land at Palm Beach Kennel Club for apartments as part of a larger complex (https://therealdeal.com/miami/2024/06/13/frisbie-terra-buy-palm-beach-kennel-club-site-for-21m-plan-apartments/) while partnering with Hines on West Palm Beach condo towers (https://therealdeal.com/south-florida/2024/06/25/hines-frisbie-pay-42m-for-west-palm-beach-condo-development-site-plans-two-towers-on-waterfront-property-near-downtown-west-palm-beach/, https://therealdeal.com/south-florida/tag/frisbie-group).
Terra Group has several other active projects including Mr. C West Palm Beach with Sympatico Real Estate after securing financing from Tyko Capital (https://therealdeal.com/south-florida/tag/david-martin/, https://therealdeal.com/south-florida/tag/david-martin-terra-group/, https://therealdeal.com/south-florida/tag/mr-c-residences-miami-coconut-grove/, https://therealdeal.com/south-florida/tag/mr-c-residences-west-palm-beach/, https://therealdeal.com/south-florida/tag/sympatico-real-estate-group/) along with additional developments in Miami’s Edgewater neighborhood with One Thousand Group (https://therealdeal.com/south-florida/tag/michael-stern-jds-development-group/) and plans for luxury condos on Watson Island with ESJ Capital Partners (https://therealdeal.com/south-florida/tag/watson-island-miami-beach/, https://therealdeal.com/south-florida/tag/esj-capital-partners/, https://therealdeal.com/south-florida/tag/ocean-breeze-golf-club).
