Boca Raton Innovation Campus Set for Major Redevelopment
The Boca Raton Innovation Campus, located at 5000 T-Rex Avenue, is the city’s largest office campus, encompassing 1.7 million square feet across 123 acres. Historically significant as the birthplace of the personal computer, developed by IBM engineers, the campus is poised for a transformative redevelopment.
A group of four investors — CP Group, Rialto, DRA Advisors, and Las Olas Capital Advisors — is spearheading a large-scale mixed-use project designed to evolve the campus into a vibrant live-work-play community. Terra has been tapped to lead the development, which proposes up to 1,243 residential units, 125,000 square feet of retail space, an entertainment venue spanning 55,000 square feet, 85,000 square feet of medical office space, and a 140-room hotel.
The residential component features an eight-story condominium building with 320 units, ranging in size from 1,213 square feet with one bedroom and a den, to 4,076 square feet with four bedrooms. Next door, an additional eight-story apartment building will offer 380 rental units.
Retail spaces will be strategically positioned on both sides of the T-Rex Avenue entrance. The retail plan includes 17 buildings totaling 125,000 square feet, along with a 13,201-square-foot grocery store.
The project is still pending final site plan approval from the Boca Raton city council.
