Both the South Florida real estate lawyer and agent put an ear to the ground when news of upcoming residential construction hits the wire. As you may have heard, the local Palm Beach Frisbie Group has teamed up with one of South Florida’s heaviest hitting real estate developers, Miami-based Terra. The company recently made headlines for their $1 billion mixed-use community project, Upland Park in West Miami-Dade.
And if you read the local Palm Beach newspapers, you’ve seen the Frisbie name peppering the real estate sections where top-tier broker, Suzanne Frisbie, who works for The Corcoran Group, is often mentioned for handling some of the Town’s most lucrative real estate deals. Agent Frisbie has consistently ranked in the top U.S. agents as reported in The Wall Street Journal.
If you also keep track of the Town’s at-times long-awaited development projects, you may also be familiar with the Frisbie family business, the Frisbie Group, founded with brothers Robert, Rick and Dave Frisbie who are now Senior Directors, along with Dave’s wife, Suzanne. The next generation followed suit with Katie, Franny and Rob Jr. joining the company. The firm’s projects include Via Flagler by the Breakers, a luxury mixed-use Palm Beach development, 3550 South Ocean, a luxury South Palm Beach condominium project, and The Flagler House, a condominium project.
Downtown Boca’s Multibillion Project
Now, Rob Frisbie and David Martin of Terra have joined forces to manage a multibillion dollar plan to redevelopment and revitalize Boca Raton’s city hall area. The exiting 30-acre project is set to transform the downtown property into a mixed-use development that will include 1,129 residential units, a 150-room hotel, and 156,690 square feet of retail space. The proposed project plan promises to be a pedestrian- and environmentally-friendly blend of civic, residential, and commercial uses. The redevelopment is expected to generate about $140 million in rent over the terms of the 99-year lease.
“This is an exciting opportunity to remake the 30 acres of city-owned land into a transformative space that residents will enjoy,” shared Mayor Scott Singer on WPTV.
New Municipal Buildings
This means Boca Raton city employees can look forward to doing business in new facilities that will include a community center, a police station, and 250,000 square feet of office space. There are also plans to build a park near the Brightline Station as well as a pedestrian bridge over North Dixie Highway leading to Mizner Park.
Boca Raton’s Town Hall History
The original city hall was designed by Addison Mizner and built in 1927. In 1980, it was added to the National Register of Historic Places. Now known as Old City Hall, the historical building on 71 North Federal Highway serves as the Boca Raton Welcome Center and the Boca Raton History Museum.
The Tera Group
Terra is a prominent real estate investment firm known for creating innovative and sustainable projects. Founded in 2001 by David Martin, Terra’s website says they seek to create high-quality residential, commercial, and mixed-use developments that enhance the local communities they serve. A few of their most notable projects include:
- Upland Park, a mixed-use community, will transform the former Dolphin Park-and-Ride facility into a 47-acre development that will improve public transit. The first phase, which includes 578 apartments, is scheduled for completion in 2026.
- Grove Central. This transit-oriented mixed-used project located in Coconut Grove features a 23-story residential tower, 402 multifamily apartments, and 170,000 square feet of retail space.
- Natura Gardens in Northwest Miami-Dade offers apartments with luxury amenities including a resort-style pool, clubhouse and fitness center, and an outdoor children’s playground and dog park.
- Five Park Miami Beach, developed with GFO Investments, this luxury tower boasts a beach club, a bridge connecting to the marina and boardwalk, on-site workspaces, pools and fitness areas, a six-floor terrace for swimming and socializing, indoor/outdoor café, outdoor and covered dining areas, hot tub, and much more.
High Expectations
The project is a huge undertaking for the little town of Boca Raton, famously known for its unique beach town flavor, wealthy retired residents, and prudent construction oversite. If all rolls out as planned, its looks to be a win-win! A win for the local real estate developer, the Frisbie Group, a win for Boca Raton, and, another win for the prolific Terra Group. And let’s not forget the Fl real estate lawyer and agent looking forward to a more fertile residential future. Win-win-win-win!
The Florida Bar Board-Certified Attorneys David E. Klein and Guy Rabideau at Rabideauklein.com have the expertise and experience you need to ensure that your interests are protected during your real estate investments, in Palm Beach County and throughout Florida. Contact Rabideau Klein today to discuss the legal implications of your next Florida property transaction.