13th Floor Unveils Plans for South Florida Mixed-Use TOD
The South Florida Regional Transportation Authority has a significant development stake in the project.
13th Floor Investments is planning to break ground this summer on Link at Boca, a mixed-use, transit-oriented development located in Boca Raton, Fla., that will feature an eight-story multifamily building with 340 market-rate and workforce apartments. The project is expected to take two years to complete.
Located at 680 West Yamato Road, Link at Boca will also have more than 24,000 square feet of retail space serving both the residents and community. Miami Beach-based Comras Co. is leading retail leasing for the development, which will have a mix of food and beverage, wellness and lifestyle concepts. Retail spaces will range from 1,300 to 6,000 square feet with options for outdoor seating connected to a pedestrian-friendly plaza and promenade.
The project is being developed in a public-private partnership with the South Florida Regional Transportation Authority. 13th Floor Investments, a Miami-based boutique real estate investment, management and development firm, entered into a ground lease for the publicly-owned land after it was selected through a competitive RFP process to reimagine the Boca Raton Tri-Rail station area as a mixed-use environment.
Multifamily spotlight
Upon completion, Link at Boca will have a mix of studio, one-, two- and three-bedroom units ranging from approximately 600 to 1,300 square feet. Apartments will have in-unit washers and dryers, custom cabinetry, quartz countertops and backsplashes, high-end appliances, luxury vinyl tile flooring, floor-to-ceiling windows and large balconies.
Community amenities will include a resort-style pool deck, social lounge and bar, coworking spaces, private offices, a yoga studio, a kids’ room, golf and virtual reality simulation room as well as a sauna and outdoor game area. The project will also have a 650-space parking garage for residents, retail visitors and Tri-Rail users.
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The property is adjacent to Interstate 95 and the El Rio Trail, a major recreational amenity and exercise corridor. Situated in the heart of Boca Raton, Link at Boca is minutes from the Boca Raton Innovation Center, Boca Raton Library, nearby nature preserves, fitness options and retail centers. It is located just north of Florida Atlantic University and Boca Raton Airport.
The retail component of Link at Boca will also have wide sidewalks, bike paths, tree-lined canopies, landscaped courtyards and water fountains that will encourage community gathering and street-level activation. Comras expects to curate a mix of food and beverage concepts ranging from fast casual to sit-down dining along with boutique fitness, wellness and service-oriented offerings.
TOD projects and more
Link at Boca marks 13th Floor’s third Link-branded transit-oriented development. The firm recently completed the first phase of Link at Douglas, a 7-acre mixed-use community connected to Miami-Dade’s Douglas Road Metrorail Station, which features residential towers, retail and public plazas. The company also has plans to develop Link at SoMi, a multifamily project adjacent to the South Miami Metrorail Station.
Founded in 2008, 13th Floor has completed more than 3,900 residential units across South Florida. The firm has more than 4,800 units in development that are slated to be delivered within the next few years.
Earlier this month, 13th Floor teamed up with Monday Properties and RSN Property Group to purchase The Summit on 401, a 291-unit apartment community in Fayetteville, N.C., from One Real Estate Investment. It was the firm’s second purchase in North Carolina this year. In February, 13th Floor acquired The Belmont, a 312-unit residential property near Duke University in Durham.
In April, 13th Floor Homes, the homebuilding division of 13th Floor Investments, completed Solera at Avalon Trails, its newest build-for-rent community located in West Delray Beach, Fla. The gated community has 74 villas with two and three bedrooms for adults ages 55 and up.
A month earlier, a joint venture between 13th Floor Investments and JSB Capital Group secured a $67.5 million construction loan from Santander Bank to develop Parks at Davie, a 383-unit market-rate and workforce housing development in Davie, Fla. The project also received preferred equity provided by Marble Capital.
