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Developer shrinks downtown lease, doubles parkland in revised '1 Boca' plan amid public pushback
Summary
At an Oct. 27 workshop, the 1 Boca team presented a revised government campus plan that would keep all land west of NW 2nd Avenue public, reduce leasable area from 31 to under 8 acres, double public park acreage to about 15.4 acres and propose substantial development east of 2nd Ave; the plan drew praise and sharp public criticism and the council discussed putting petition questions on a Jan. 13 ballot.
Rob Frisbie, representing the 1 Boca development team, presented a substantially revised vision for the downtown government campus to the Boca Raton City Council on Oct. 27, saying the plan preserves the entire west side of NW 2nd Avenue as city-owned public space while concentrating private development east of 2nd Avenue.
Key commitments in Frisbie’s presentation included: no private development west of NW 2nd Avenue (Memorial Park would remain 100% city-owned), reducing the leasable ground area from 31 acres to under 8 acres (all east of 2nd Avenue), and increasing public recreational space from about 7.6 acres to roughly 15.4 acres. Frisbie said the plan would place development on underused parking lots and privately owned parcels adjacent to the Brightline station.
Frisbie described programmatic elements on the west side including a quarter-mile central promenade, a ‘‘Banyan Tree Village’’ and upgraded recreation facilities, as well as a community center and meeting spaces he said veterans could use. On the east side, the plan calls for a pedestrian-only retail promenade, ground-floor retail, a 150,000-square-foot office building by Brightline, about 769 rental units, 186 condominium units on adjacent private parcels, and a roughly 180-key hotel. Frisbie said several buildings would have maximum heights near 140 feet and that the initial phasing would include the Brightline-adjacent office, hotel and two residential buildings.
On projected returns, Frisbie told the council he expects gross revenues in excess of $2 billion and an NPV in excess of $200 million tied to the leased ground area; he said the team will return with a formalized financial program at a subsequent council meeting. Councilmembers repeatedly pressed staff and the developer on financial assumptions, indexing, rent escalation, percentage-rent clauses and what protections the city would include in a long-term ground lease.
Council members and staff said they would request a shorter forecasting horizon in addition to long-term models so the city can better test assumptions. Staff described that an independent third-party financial advisor and CBRE are reviewing both revenues and costs as part of the P3 review and that appraisal work is ongoing for both the full 31 acres and the specific leasable parcels.
Public comment was sharply mixed. Supporters of preserving public land said the reduction in leased acreage and doubling of parkland were positive changes; petitioners and others remained skeptical about a 99-year ground lease and the developer’s revenue projections. Multiple speakers urged adopting an initiative ordinance or putting the referendum before voters; Mayor Singer said staff will explore joining a Jan. 13 special election ballot for petition questions and asked staff to prepare revised resolutions for council consideration.
Frisbie and city staff confirmed several next steps: the developer will provide detailed cost and revenue programing at an upcoming meeting, staff will continue appraisal and infrastructure cost reviews, and the council could consider revised resolutions to align with the Jan. 13 special election timeline.
"All land West Of Northwest 2nd Avenue remains 100% city owned and dedicated to public, civic, and recreational uses," Frisbie said during the presentation. "The amount of public recreational space will be doubled from 7.6 acres to 15.4 acres of parks, recreation, and civic areas open to the public."
Several residents countered that the city could build the park improvements using municipal resources without entering a long-term ground lease. "We don't need their money," one resident said, urging the council to retain public control of the land.
The council did not take a final vote on any agreement at the workshop. Frisbie said the team will return with detailed financial analyses at the next meeting; the council will consider proposed revised resolutions and next steps on whether to join the Jan. 13 ballot.
