Boca Raton Tri-Rail Development Moves Forward with $100M Loan

Published: February 18th, 2026 | Updated: May 14th, 2026

Boca Raton is getting 340 new apartments next to its Tri-Rail station, including 51 affordable units. In a city where affordable rentals near transit are nearly impossible to find, Link at Boca could change that.

Key Takeaways

13th Floor Investments and Rockpoint secured a $100 million construction loan from Santander Bank for Link at Boca, an 8-story mixed-use project at the Boca Raton Tri-Rail station.
The project will deliver 340 apartments (including 51 affordable and workforce units), 24,000 square feet of retail, and a 650-space parking garage on publicly owned land leased from the South Florida Regional Transportation Authority.
Tri-Rail hit a record ridership of 4.5 million rides in 2025, surpassing its pre-pandemic high and ranking 4th nationally in post-pandemic recovery.

Link at Boca, a transit-oriented development at 680 West Yamato Road in Boca Raton, just secured $100 million in construction financing. Miami-based 13th Floor Investments and Boston-based Rockpoint announced the Santander Bank loan on February 2, 2026, clearing the way for groundbreaking by the end of the month.

What makes this project different: 13th Floor won the site through a competitive RFP from the South Florida Regional Transportation Authority (SFRTA) to transform a 17-acre publicly owned parking lot. The Boca Raton city council approved the project in 2025. This is a true public-private partnership, not a typical private development.

The timing aligns with growing demand for rail-connected living in South Florida. Tri-Rail just posted record ridership of over 4.5 million rides in 2025, and the system ranks 4th among U.S. commuter rail systems in post-pandemic recovery.

What will Link at Boca include?

The 8-story mixed-use building will rise on a 17.24-acre parking lot adjacent to the Boca Raton Tri-Rail station. Here is what the project delivers:

340 apartments: Studios to three-bedrooms ranging from 600 to 1,300 square feet. Interior finishes include custom cabinetry, quartz countertops, luxury vinyl tile flooring, floor-to-ceiling windows, in-unit washers and dryers, and expansive balconies.
51 income-restricted units: 34 affordable units and 17 workforce units (15% of total), addressing a gap in Boca Raton's rental market.
24,000 square feet of retail: Ground-floor space curated by Comras Company, focusing on food and beverage, wellness, and lifestyle tenants. Spaces range from 1,300 to 6,000 square feet with outdoor seating options.
650-space parking garage: Shared by residents, retail visitors, and Tri-Rail riders.
Resort-style amenities: Pool deck, social lounge with bar, coworking spaces, private offices, yoga studio, virtual golf room, sauna, and outdoor game area.

The site sits adjacent to the El Rio Trail and near the Boca Raton Innovation Campus, Florida Atlantic University, and Boca Raton Airport.

Aerial rendering of Link at Boca mixed-use development adjacent to Boca Raton Tri-Rail station, 8-story apartment building with ground-floor retail.

Credit: 13th Floor Investments.

Why is transit-oriented development gaining traction in South Florida?

Transit-oriented development (TOD) is still rare in South Florida, but the numbers suggest that it is changing.

Tri-Rail hit a record ridership of 4.5 million rides in calendar year 2025, surpassing the pre-pandemic high of 4.4 million set in 2019. The system averages 15,000 weekday riders (reaching 16,000 on several days in 2025), and ranks 4th of 31 U.S. commuter rail systems in post-pandemic recovery according to a GAO report.

Link at Boca is 13th Floor's third "Link" branded transit-oriented project:

Link at Douglas (Miami): Adjacent to the Douglas Road Metrorail station. Phase 1 is complete. Phase 2 "Cadence" (432 units) is now under construction with a $125 million construction loan.
Link at Boca (Boca Raton): This project is adjacent to the Boca Raton Tri-Rail station.
Link at SoMi (planned): Adjacent to the South Miami Metrorail station.

Rockpoint's COO, Dan Domb, called Boca Raton "a highly attractive, economically resilient submarket" with "durable demand and supply constraints." The firm has an active South Florida track record, including The Pomp in Pompano Beach ($2 billion mixed-use project) and Caroline at Sunrise in Fort Lauderdale (452 units).

13th Floor is also active in new condo development in Aventura with Related Group, showing the firm's expanding footprint across South Florida.

What does this mean for property values near the Yamato Road corridor?

The impact depends on your position in the market:

For homeowners west of I-95: 340 new rental units will draw residents who work at the Innovation Campus, FAU, and nearby office parks. That foot traffic supports property values and local retail in the surrounding area. If Link at Boca performs well, similar projects could follow at other Tri-Rail stations across Broward and Palm Beach counties.
For investors: Transit-oriented developments tend to retain value well because they serve a growing segment of residents seeking alternatives to car-dependent living. Projects that combine housing with rail access are still rare in South Florida, which creates scarcity value.
For renters: The affordable and workforce unit mix (51 of 340 total) addresses a real gap. Boca Raton has limited rental options in that price range, especially with this kind of access and amenities.

As Larry Mastropieri explained on the Discover South Florida Podcast, "This location is great. And it's connected to a whole bunch of other office communities that are right there. So there's a bunch of office space and everything else there, which is great. We need more of this. As you can see, there are developers doing it. They're taking action because there's a real demand for this product right here in South Florida. And hopefully this helps to increase affordability."

Own property near the Yamato Road corridor? Talk to a real estate agent near Boca Raton who understands how transit-oriented development affects surrounding neighborhoods. Reach out to The Mastropieri Group or call (561) 544-7000.

Who are the developers behind Link at Boca?

13th Floor Investments is a Miami-based (Coconut Grove), vertically integrated real estate investment and development firm founded in 2008 by Arnaud Karsenti. The firm manages over $5 billion in assets across more than 60 projects. 13th Floor has delivered 4,700+ residential units with 7,100+ units in the development pipeline through 2033.

Daryl Shevin, CFO and Principal of 13th Floor Investments, said: "Partnering with Rockpoint and securing this financing from Santander Bank marks an important milestone for Link at Boca and reflects confidence in both the project and the long-term fundamentals of transit-oriented development in Boca Raton."

Rockpoint is a Boston-based real estate private equity firm founded in 1994. Since 1995, the firm has closed on or committed to 140 residential investments comprising 97,000+ multifamily units. Rockpoint's South Florida track record includes The Pomp in Pompano Beach ($2 billion, 223-acre mixed-use project), Caroline at Sunrise (452 units with The Morgan Group), and The Point at Miramar (393 units, sold for $161 million in 2025).

What happens next?

Groundbreaking is expected by the end of February 2026, with an estimated 24-month construction timeline. That puts completion around early 2028.

For Boca Raton residents and investors, this project is worth watching. Transit-oriented development is still rare in South Florida, but the record Tri-Rail ridership numbers suggest demand is there. If Link at Boca succeeds, expect more developers to pursue similar projects at other stations along the 80-mile, 19-station system connecting Miami-Dade, Broward, and Palm Beach counties.

One note of caution: Tri-Rail's current funding projections indicate the system has sufficient funds to operate only through July 2027 without additional state support. SFRTA is working with the Florida Legislature and county governments on a long-term solution.

Frequently Asked Questions about Link at Boca

What is Link at Boca?

Link at Boca is an 8-story mixed-use development planned for 680 West Yamato Road in Boca Raton, adjacent to the Tri-Rail station. The project includes 340 apartments (studios to three-bedrooms), 24,000 square feet of ground-floor retail, and a 650-space parking garage. 13th Floor Investments and Rockpoint are developing the project on publicly owned land leased from the South Florida Regional Transportation Authority.

When will Link at Boca be completed?

Groundbreaking is expected by the end of February 2026. With an estimated 24-month construction timeline, completion is projected for early 2028.

Will Link at Boca have affordable housing?

Yes. The project includes 34 affordable units and 17 workforce units, totaling 51 income-restricted apartments (15% of the 340 total units). This addresses a gap in Boca Raton's rental market, especially for residents seeking transit-connected housing with amenities.

Where is Link at Boca located?

Link at Boca is located at 680 West Yamato Road in Boca Raton, Florida, adjacent to the Boca Raton Tri-Rail station. The site is near the Boca Raton Innovation Campus, Florida Atlantic University, Boca Raton Airport, and the El Rio Trail.

Local help for buyers and investors in Boca Raton

If you are buying, selling, or investing in Boca Raton, Delray Beach, or anywhere across Palm Beach County, understanding how transit-oriented developments affect neighborhood values and rental demand matters. Reach out to The Mastropieri Group, Realtors®.

For practical, hands-on support across Boca Raton, call (561) 544-7000.