After receiving preliminary clearance from city authorities, a sizable mixed-use project may be built around the Boca Raton Innovation Campus.

Situated on 123 acres at 5000 T-Rex Ave, BRIC is the largest office campus owned by a single owner in South Florida, spanning 1.7 million square feet. Large parking lots at the facility, which is well-known for being the location where IBM engineers invented the personal computer, might be developed.

After more than five years of work by CP Group, which co-owns the site alongside Rialto, DRA Advisors, and Las Olas Capital Advisors, the City Council approved the new zoning for BRIC on October 11.

According to Angelo Bianco, managing partner of CG Group, the permission permits 1,243 residential units, 125,000 square feet of retail space, a 140-room hotel, a 55,000-square-foot entertainment arena with seating for 5,000 people, and 85,000 square feet of medical offices. A grocery shop spanning 40,000 square feet would be part of the retail area.

Source:  SFBJ