**Boca Raton Hotel to Be Converted Into Apartment Complex**
A 183-room hotel in Boca Raton could soon become a 125-unit apartment building. Opterra Capital has submitted a permit request to convert The Holiday Inn & Suites Boca Raton North into a residential complex that will include 10% affordable housing and 5% workforce housing.
Located at 701 N.W. 53rd Street, just off Yamato Road, the four-story hotel was originally developed in 1989. The property spans 99,454 square feet and features 214 surface parking spaces, a pool, fitness center, and an on-site restaurant. An affiliate of Opterra Capital acquired the hotel for $13.27 million in 2021.
According to the South Florida Business Journal, the proposed renovation plans include interior modifications to convert the hotel rooms into apartment units, with no changes to the exterior structure needed. Upon completion, the building will feature 73 studio apartments measuring 400 square feet each, 44 one-bedroom units at 800 square feet, and eight two-bedroom units covering 1,200 square feet.
Garcia Stromberg has been named the architect for the project.
