Beztak and Wexford win zoning board nod for expanded Boca Raton apartment project

Sam Beznos, CEO at Beztak
Sam Beznos, CEO at Beztak - Comparably
0Comments

A joint venture between Beztak and Wexford Real Estate has received approval from Boca Raton’s Planning and Zoning Board to expand their previously approved apartment development at the Amtec Center business park. The project, known as Bocora, will add 21 apartments, a fitness center, and a private school to the original plans for an eight-story, 277-unit building located at 6401 to 6421 Congress Avenue.

The expansion is pending a vote by the Boca Raton City Council after Thursday’s planning board meeting granted its initial approval. As part of the agreement for additional units, the developers have offered to reserve four apartments for affordable housing and build a 2,086-square-foot fitness facility. Under Boca Raton’s commercial industrial multifamily development (CIMD) ordinance, developers can request more residential units in light-industrial areas like Amtec Center if they provide attainable housing and new retail options.

Owners of Amtec Center are also seeking conditional use approval for a 2,000-square-foot school with capacity for 100 students within an existing office building on site. Attorney Ele Zachariades said this would allow Xceed Preparatory Academy—already operating as a hybrid tutoring facility in Amtec Center—to accept school vouchers.

Not all stakeholders support the expansion. Jon Ounjian, who owns property north of Amtec Center, expressed concerns that increased traffic from Bocora would negatively impact his property unless roadway changes are made.

Some board members raised issues regarding whether the planned fitness center truly meets CIMD retail requirements or simply serves as an amenity for residents. Board member Timothy Dornblaser commented: “All these apartments that are going up [have] no retail, so every time someone wants a cup of coffee or breakfast or something, they are leaving the site.”

Development services director Brandon Schaad clarified that under city rules the gym must be open to the public and staffed at least 60 hours weekly by an independent operator. Otherwise, he said developers could face penalties from the city. Zachariades argued that “It’s a small boutique gym. Most of them don’t have staff at all,” noting access would be through key passes rather than onsite staff.

Schaad responded that staffing details would be resolved before council consideration: “Unstaffed commercial gyms are a real thing in the world, but I’m not familiar with them,” he said.

Beztak is led by Sam Beznos; Wexford by Joseph Jacobs and Philip Braunstein. Plans for Bocora were first announced in late 2021 after Beztak acquired part of Amtec Center for $12.7 million from Jupiter-based Catexor—run by Stig and Britt Wennerstrom—which retains ownership of most remaining acreage there.

Boca Raton has seen significant recent development activity across several sites in town. In July, Related Group purchased ten acres on Office Depot Campus with plans for mixed-use redevelopment including apartments and retail space (https://therealdeal.com/miami/2023/07/14/related-pebb-bh-buy-office-depot-campus-site-in-boca-for-50m-plan-apartments-retail/) . Also in July, Group P6 and Mill Creek Residential received approval to build another apartment building downtown (https://therealdeal.com/miami/2023/07/20/group-p6-mill-creek-score-approval-for-downtown-boca-raton-apartment-project/) . In August, Church of Jesus Christ of Latter-Day Saints bought Del Ola apartment complex (https://therealdeal.com/miami/2023/08/02/church-of-jesus-christ-of-latter-day-saints-pays-153m-for-boca-apartments/) , while James and Marta Batmasians’ hotel proposal gained planning board backing near Mizner Park (https://therealdeal.com/miami/2023/08/25/batmasians-score-planning-board-ok-for-hotel-near-mizner-park/) .

Recent months have also seen some residents organize opposition to large-scale projects such as Terra Group and Frisbie Group’s proposed development on public land.



Related

Harry K. Sideris, President and Chief Executive Officer

Duke Energy announces dividend payments to shareholders

Duke Energy has declared new dividends for both common and preferred shareholders this quarter. The company highlights a century-long history of consistent dividend payments and ongoing investment in energy modernization.

Harry K. Sideris‌, President and Chief Executive Officer at Duke Energy Florida

Duke Energy applies for Department of Energy loans that represent potentially billions of dollars in customer savings

Duke Energy has applied for U.S. Department of Energy loans that could lead to significant customer savings by reducing interest costs on infrastructure projects. The move supports ongoing efforts by Duke Energy to keep electricity rates low amid growing demand.

Sergio Perez, Formula 1 Driver at Red Bull Racing.

Formula 1 drivers invest in Miami real estate as Grand Prix draws crowds

Formula 1 stars are purchasing luxury condos as developers use major events like the Miami Grand Prix to attract buyers with exclusive parties and promotions. Notable deals include Sergio Pérez’s new home at St. Regis Residences and Pierre Gasly’s investment at Jean-Georges Miami Tropic Residences.

Trending

The Weekly Newsletter

Sign-up for the Weekly Newsletter from Orlando Business Daily.