The founders of a new $115 million dollar performing arts center in Boca Raton's Mizner Park say it will reinvigorate the cultural scene in the city, giving people from across South Florida another incentive to support local arts.
Speaking two weeks after the Boca Raton City Council
greenlit the project, Andrea Virgin, president and chairwoman of the new , says in addition to traditional performing arts鈥� such as ballet and symphonies鈥攖hey are looking to expand into digital and immersive media experiences.
Art aficionados could explore the center's helical screens and retractable seating and balconies, stroll on its rooftop terrace and gaze through its open-air planetarium.
Virgin, the former ballet dancer turned civil engineer, envisions the project, currently under a pre-construction and development agreement, to be an invigorating 鈥渃ultural hub鈥� of the community.
鈥淲hen you talk about this south Palm Beach County, north Broward County area, we don鈥檛 have as much vibrancy in terms of cultural infrastructure to offer and that鈥檚 what this project aims to fill,鈥� Virgin said. 鈥淪o it was certainly even more exciting now because those who moved to this area really desire this type of infrastructure.鈥�
She added: 鈥淵ou got great cultural facilities in Miami, Fort Lauderdale, you skipped Boca. And you get to West Palm Beach and north of that. And Boca has just sat in the 60 mile gap for decades and residents here have long desired it.鈥�
Virgin says the center will accommodate 6,000 people between its main theater, intimate spaces and renovated amphitheater.
But shovels aren't ready to be put in the ground quite yet. The center has to keep track of any cost escalation.
The council passed the project 4-1. Despite showing support for the center, Mayor Scott Singer was the dissenting voice. As the local economy struggles with inflation, Singer wanted to cross-check the construction cost and have a definitive answer for how long and how much it will take to build the center.
Virgin and the center鈥檚 backers, who are footing the bill, argue that construction costs vary depending on the market and it鈥檚 difficult to estimate the cost over a two to three year period.
鈥淪teel will be a different price tomorrow and concrete will be at a different price a month from now,鈥� she said. 鈥淪o as much as we'd all love to tie down exactly what this is going to cost today, the design is extremely early days and we're not building it today.鈥�
During a special meeting, the City Council and Community Redevelopment Agency of Boca Raton a 74-year ground lease, with two ten-year extension options for a total of 94 years.
Residents mostly showed eagerness toward the project. Organizers will develop the center and redevelop the old Mizner Park Amphitheater on the north end of the park, next to the Boca Raton Museum of Art.
Long term leases often shape the landscape of cities. The historic amphitheater, a cultural bedrock of the community for more than 30 years, will continue to be used as an outdoor space. But it will be covered with a 鈥渟tructural curtain,鈥� which will also allow the front of the amphitheater to be closed for 鈥渃limate controlled performances鈥� and as a versatile, mix-use space for various types of events.
Economic boost
The new Brightline station set to open later this year, situated just minutes from the city鈥檚 downtown area, will bring business and cultural tourists to the center鈥� a new economic engine to promote more activity offerings, more foot traffic for restaurants and retail, according to projections.
The center鈥檚 board commissioned an independent economic impact study in August 2020 that estimates the center to bring in more than $10 billion dollars to the local economy over a 30-year period. The overall, annual economic benefits to the center in the first five years will be more than $342 million dollars. And, according to the study, it will increase the tax revenue by about $10 million.
鈥淭hose tourists that are coming to this area are not just booking hotel rooms, they鈥檙e coming and eating at our restaurants,鈥� Virgin said. 鈥淭hey鈥檙e coming to shop at our stores. They鈥檙e coming and experiencing everything that the great Boca Raton area has to offer.鈥�
Groundbreaking is scheduled for 2025, with construction cost estimates ranging north of $115 million for hard costs, working capital reserves, maintenance reserves, and endowments to be raised prior to opening day.
Building plan
Now that the center has the ground lease approved, they will complete the design process, which will also determine "price adjustments and updates," Virgin said. She said the center has raised about $15M in cash and in kind donations and the organization is in discussion with donors after the city's approval.
If the Boca Center for Arts and Innovation can鈥檛 raise the money, the city can terminate the deal. Under the lease agreement, the city must provide a 30-day notice before ending a lease or development agreement, which would allow the center time to retrieve, if necessary, a preliminary injunction that would temporarily stop the action.
The center has to show proof of funds and a construction estimate before they put a single shovel in the ground. Traditionally, many infrastructure projects are built with construction financing, where a loan is used to allow the construction to begin. That won鈥檛 be the case here.
Virgin says the center will be fully funded with an endowment and open debt free, with all the funds raised already having been pledged and 鈥渂eing paid out in a multi-year way.鈥�
鈥淎nd after all funds are raised, the plans have been approved, the permit is ready to be issued once we show those proof of funds and that building permit has been issued and we've got our contractor fully on board, that's when when shovels can go in the ground and that's when our lease commences," she added.
