BOCA RATON, Fla. — IBM’s former home in Boca Raton could be in for a transformation. It's thanks to a new multi-million dollar investment.
“The building itself was designed by world-famous architect Marcel Breuer,” said city Councilman Andy Thomson.
The former Boca Raton Innovation campus, where the PC was developed many years ago by IBM, could get a facelift.
Its property owners CP Group entered an agreement with DRA Advisors to invest $320 million to revamp it.
“$320 million, which is a massive, massive investment,” said Thomson. “I think a reflection of the fact that in Boca Raton, it's a great place to be, it’s an attractive place to be, and the DRA Advisors firm wanted to have a piece of the action.”
The plan is to add various amenities in conjunction with the existing building that includes residential and office space — restaurants, a hotel, a supermarket and a new civic center.
“They wanted to have well lit, well-constructed roads that are pedestrian-friendly that have kind of like a downtown feel to them,” Thomson said. “Yes, it's going to take years before this even gets to the point, where it gets voted up or down, let alone built out.”
Thomson said the existing zoning regulations around the property would have to be changed and go through the process with the city and public hearings before a final vote.