A 183-room Boca Raton hotel may soon become a 125-unit apartment complex. Opterra Capital has requested a permit to convert the units of The Holiday Inn & Suites Boca Raton North, just off Yamato Road, into a project with 10% affordable housing and 5% workforce housing.
The hotel is at 701 N.W. 53rd St. It was developed in 1989 and has four stories and totals 99,454 square feet. An affiliate of Opterra acquired it for $13.27 million in 2021.
The S. Florida Business Journal reports the property owner would perform interior renovations to convert the hotel to residential. It would not require exterior changes to the building. The site already has 214 surface parking spaces, a pool, a fitness center and a restaurant.
Once the renovations are complete, the building would have 73 studios of 400 square feet, 44 one-bedroom units of 800 square feet, and eight two-bedroom units of 1,200 square feet.
Garcia Stromberg is the architect on the project.
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