Boca Raton reviews four competing proposals for downtown government campus; council sets public review and rankings

Mayor Singer convened a workshop of the Boca Raton City Council on Jan. 27 to review four unsolicited proposals for redeveloping the city’s 30‑acre government campus and to outline next steps in public outreach and negotiation.

CBRE consultant Leanne Korst said staff received four distinct offers and has been working to present them “in a digestible format.” CBRE’s analysis showed wide variation among proposals: open/green space ranges from about 2.5 acres to more than 6–8 acres, residential unit counts from roughly 650 to as many as 8,000, and office square footage from about 100,000 to nearly 1,000,000 square feet. Korst said the next formal milestones are a firm ranking on Feb. 11, an open house on Feb. 19 and a goal to negotiate a non‑binding interim agreement with the top‑ranked proposer by March 18.

CBRE’s financial summary, presented by Mike McShay, used consistent escalation (2% CPI in the model) and a 4% discount in net‑present‑value calculations to compare offers. McShay flagged that some tax projections are still being refined and that CBRE is following up with proposers to confirm assumptions.

The four teams that presented were:

- Boca Raton City Center (Terra/Frisbie). Terra CEO David Martin and partner Rob Frisbie pitched a lower‑height, park‑forward plan centered on 18 public spaces, a 10‑story typical building profile…