Terra & Frisbie's $2.1 Billion Boca Raton Megaproject Heads to Voters

Key Points

• $2.1B in lease revenue projected for the city over 99 years — down from $3B in earlier plans

• Scaled-back proposal includes 580 apartments, 160 condos, 80K SF retail, and 250K SF office space

• Referendum triggered after residents collect 7,000+ signatures demanding a vote on the public land lease

A Massive Boca Raton Redevelopment Could Be in Voters’ Hands

Terra Group and Frisbie Group have revised their proposal to redevelop 30 acres of public land in Boca Raton, reducing the overall density from the original 2.5 million-square-foot plan. While the updated version includes significant changes, it continues to generate discussion among residents. As a result of community input, the plan will now proceed to a public referendum for voter approval.

Inside the New Plan: What Terra & Frisbie Are Offering

• Location: 30 acres at West Palmetto Park Road and NW 2nd Avenue

• Proposed development mix:

  • 580 apartments

  • 160 condominiums

  • 80,000 square feet of retail

  • 250,000 square feet of office space

• Public amenities include:

  • New City Hall and community center

  • Redesigned Memorial Park

  • Children's museum

  • World War II memorial

  • Playground integrated with existing banyan trees

  • Tennis center with up to 10 clay courts

The revised lease deal would generate about $2.1 billion over 99 years for the city, down from the $3 billion projected under the original plan.

Community Response and Calls for a Referendum

In response to the revised proposal, a group called Save Boca has collected more than 7,000 signatures in support of placing the project on a citywide ballot. The petition seeks to require voter approval for any lease or sale of public land exceeding half an acre.

Residents have raised a range of concerns, including potential traffic impacts, the preservation of green and recreational space, and changes to Boca Raton’s overall character.

Some have suggested that the city could explore alternatives to fund civic improvements, such as renovating City Hall, without entering into a long-term lease. Others have questioned the relocation of certain recreational facilities, including Memorial Park’s softball fields, to different parts of the city.

Political Response: Referendum Confirmed

In response, the Boca Raton City Council has added a referendum clause to the lease agreement. No final approvals will occur until voters have their say.

Terra and Frisbie have agreed to delay the approval timeline and plan to host two community workshops to discuss the project in greater detail:

• September 29 at the Downtown Library

• October 6 at the Spanish River Library

The originally scheduled vote in late October has been postponed, with no new date yet confirmed.

Development Outlook and Broader Implications

The scaled-down proposal reduces the projected financial return to the city from approximately $3 billion to $2.1 billion over the 99-year lease term. This adjustment highlights the balance being sought between development goals and community input.

The revised plan removes the hotel component, lowers residential and retail density, and incorporates public infrastructure, including a new city hall and civic spaces. These changes reflect an effort to align the project more closely with resident priorities while continuing to advance redevelopment objectives.

The outcome of the referendum may influence how similar public-private redevelopment efforts are approached in the future. Boca Raton and the surrounding region have seen increased development activity, including Mill Creek’s $101 million apartment project and the Batmasians’ hotel towers near Mizner Park. The decisions made in this case could help shape expectations for civic engagement and project design in future proposals.

Whether it moves forward will depend not on city officials—but on voters. With nearly $2 billion in public revenue and new civic infrastructure on the line, all eyes are on the referendum.