289 Apartments Planned for Boca Raton Business Park

Photo byGOOGLE STREETVIEW

Looks like the landscape of Boca Raton is about to get a big shake-up! The owner of an office complex in the area has put forward a plan to transform part of its parking lot into a residential haven. The 11.6-acre site at 900 N.W. Broken Sound Parkway could soon be home to 289 new apartments.

Here’s the deal: 900 Broken Sound Acquisition Co, which bought the office building for $23.68 million back in 2018, is behind this move. They’re teaming up with PHG Mainstreet Boca Raton, which scooped up part of the parking lot for $1.83 million in 2020. This proposal aims to build a 334,295-square-foot apartment complex, including 29 affordable units and 15 workforce units—part of the city’s push for more diverse housing options in office parks.

The plan also includes a 599-space parking garage, though they’re asking for a 20% reduction in parking spaces. The existing office building will stay put, so this addition will blend right into the current setup.

Bonnie Miskel, the local attorney representing the developers, hasn’t commented yet, and Neal Merin and Paul Jordan of NAI Merdin Hunter Codman in West Palm Beach declined to speak on the record. But the developers are enthusiastic about the project. They’ve said it will offer new residential options close to office spaces, potentially cutting down on traffic and enhancing the synergy between the residential and corporate areas.

As apartment rents climb in Boca Raton, office owners are jumping on the opportunity to leverage the new zoning laws that allow for residential development on office sites. Having residents nearby could make these office spaces more appealing to future tenants.

Stay tuned—this could be a game-changer for the area!