Tag Archive for: hda architects

Boca’s Bank Of America Office Building Plans Expansion

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Grover Corlew is looking to add more office and restaurant space to downtown Boca Raton through a redevelopment of Bank of America Plaza at 150 E. Palmetto Park Road.

Plans recently submitted to the city call for changes to the 1.65-acre property, which is currently improved with an eight-story, 115,553-square-foot office building dating to 1969. The proposal would remove a 21,414-square-foot portion of the structure along Mizner Boulevard and replace it with a new eight-story addition totaling 71,112 square feet.

The expansion would bring the property to 162,537 square feet. In addition to new office space, the project would introduce nearly 7,000 square feet of restaurant space at ground level, along with 1,680 square feet of covered outdoor dining and a rooftop amenity area. The plans also include a robotic underground parking system with 90 spaces.

Grover Corlew’s leadership framed the proposal as part of a broader push to strengthen Boca Raton’s downtown as a destination for both employers and workers. The concept emphasizes a more active street presence, with dining and retail intended to make the property function as more than a traditional office building.

The project is still early in the city review process. HdA Architects, based in Boca Raton, is designing the redevelopment, and attorney Ele Zachariades is representing the developer in the application.

The proposal comes as Boca Raton’s eastern office market continues to balance new development with available space. Colliers reported a first-quarter office vacancy rate of 12.8% in Boca Raton East, with Class A vacancy notably higher at 22%. Average asking rents for Class A offices were reported at $58.28 per square foot, while roughly 144,000 square feet of office product was under construction in the submarket, much of it tied to the Aletto project now rising downtown.

 

Source:  SFBJ

Boca Raton Office Building Could Be Redeveloped

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A long-standing office property in Boca Raton may be repositioned as a mixed-use residential project under Florida’s Live Local Act.

ZNT LLC, led by Jeffrey Levitetz of Boca Raton-based Bark Property Management, has submitted an application to amend the master plan for an 8-acre site at 5300 Broken Sound Blvd. NW. The request would allow the existing office property to be redeveloped into a multifamily and retail project utilizing Live Local Act provisions.

The site is part of a broader master-planned area that previously included a neighboring 297-unit apartment community at 5400 Broken Sound Blvd. NW, now known as Amalta Broken Sound. ZNT LLC sold that parcel in 2019 to affiliates of Related Group and Rockpoint Group, which completed the development in 2022. The property was sold later that year for $194 million, underscoring the strength of the Boca Raton multifamily market.

ZNT LLC now controls the remaining parcel, which currently contains a 58,614-square-foot office building dating back to 1982. According to online listings, nearly all of the office space is presently available for lease.

Under the Live Local Act, developers may build multifamily projects at the maximum height and density allowed within a municipality if a portion of the units are designated as workforce housing. While the state law generally requires 40% of units to meet workforce housing thresholds, Boca Raton has adopted a local ordinance allowing projects to qualify with as little as 10%.

Plans for the Broken Sound Boulevard site call for a seven-story development with 191 residential units, supported by a five-story parking garage with 420 spaces. The proposal also includes two retail buildings totaling 31,000 square feet, along with 230 surface parking spaces dedicated to retail use. Of the residential units, 19 would be reserved for households earning up to 120% of area median income, and 10 units would serve households earning up to 140% of area median income.

Preliminary plans identify two retail spaces as potential grocery and emergency room uses, though no tenants have been formally announced. The project was designed by Boca Raton-based HDA Architects.

While several Live Local Act proposals have been submitted in Boca Raton, none have begun construction to date. The first Live Local Act project combining workforce and market-rate housing to break ground in the region is located in nearby Boynton Beach.

 

Source:  SFBJ