**Boca Raton Hotel to Be Converted into Apartments**
A 183-room hotel in Boca Raton is set for a major transformation into a residential community. Opterra Capital has submitted a proposal to convert The Holiday Inn & Suites Boca Raton North into a 125-unit apartment complex. The project 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 and spans 99,454 square feet. An affiliate of Opterra Capital purchased the property in 2021 for $13.27 million.
According to the South Florida Business Journal, the conversion will involve interior renovations only, with no exterior modifications to the building. Existing amenities on the site include 214 surface parking spaces, a swimming pool, a fitness center, and a restaurant—all of which will remain.
The reconfigured residential project will feature 73 studio units, each 400 square feet, 44 one-bedroom apartments at 800 square feet apiece, and eight two-bedroom units measuring 1,200 square feet. Garcia Stromberg is serving as the architect for the development.
The initiative represents a growing trend of hotel-to-residential conversions, particularly in areas facing housing shortages or shifting demand in hospitality.
