In 2025, Boca Raton became the first city in the U.S. to secure a federal transit-oriented development loan specifically for housing. More than 300 new units are set to rise next to the Boca Tri-Rail station, marking a significant shift in how South Florida approaches traffic, affordability, and urban growth.
For the first time in its history, the U.S. Department of Transportation is backing a neighborhood project, ”The Colony Project,” rather than a highway or rail line. With commuter rail access, discounted fares for residents, and dedicated parking for daily riders, the development is designed to ease traffic congestion, expand housing affordability, and encourage greater use of public transit.
A First in U.S. Transit Housing Policy
Boca Raton Lands Historic Federal Transit Loan
In a first-of-its-kind move, the U.S. Department of Transportation (DOT) issued a transit-oriented loan for a residential project, not a rail line or highway. The city of Boca Raton received funding through the federal TIFIA program, marking a milestone in urban development strategy.
This loan supports The Colony Project, a residential development adjacent to the Tri-Rail station just off Yamato Road, part of a broader federal strategy to make public transportation more usable and cities more livable.
Why This Move Matters for South Florida Growth
South Florida faces increasing traffic congestion and a lack of affordable housing. Public transit, although available, has been underused. This initiative attempts to solve several problems at once:
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Reduce car dependence
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Promote transit use
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Add housing near existing infrastructure
The Boca Raton transit housing model offers a new path forward, blending smart growth with commuter convenience.
Inside The Colony Project Near Boca Tri-Rail
What Is Being Built?
The Colony Project will bring over 300 new residential units to the area next to the Tri-Rail station, combining workforce and market-rate housing. The site will also include:
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Parking for daily commuters
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Retail spaces for transit riders and residents
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Direct pedestrian access to the station
Project Perks: Discounted Rides, Parking, and More
Residents of the development will receive a 50% discount on Tri-Rail fares, an unprecedented incentive to use public transportation in South Florida.
Construction is expected to begin as early as summer 2025. The goal? Fewer cars on the road and more commuters riding the rails.
Who’s Behind the Project: 13th Floor and Adler Development
The development is being led by 13th Floor Investments, a Miami-based real estate firm, in partnership with Adler Development Group. Together, they’ve formed 13th Floor Adler Boca Station, LLC for this venture.
The developers are also behind another major project nearby, Boca Village, which highlights their expanding footprint in the area.
Why Boca Raton Was Chosen for This Pilot
High Commuter Volume at Boca Tri-Rail Station
According to official ridership data, the Boca Tri-Rail station is among the busiest in South Florida:
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22,497 boardings in October 2024
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22,408 exits at the same station
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Consistently ranks in the top 5 for total ridership
With this volume, the area already has the commuters. Now it’s getting housing infrastructure to match.
The City's Traffic and Affordability Problems
Traffic congestion in Palm Beach County continues to worsen. At the same time, the cost of living, especially housing, is pricing out many middle-income workers.
Data from the Florida Housing Coalition shows that more than 30% of renters in the region are cost-burdened, meaning they spend more than a third of their income on housing.
A Natural Fit for Transit-Oriented Development
Boca Raton offers the perfect test case for transit-oriented development in Florida:
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High ridership
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Dense employment areas nearby
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Room for infill and mixed-use development
A city government open to innovative growth strategies
What Transit-Oriented Development Means for Boca Raton Real Estate
Growing Demand for Connected Housing
The Colony Project’s location next to the Tri-Rail station positions it as one of Boca Raton’s most commuter-friendly residential developments, an increasingly valuable asset for today’s renters and homebuyers. As the demand for connected, walkable housing grows, this transit-oriented community is expected to attract a diverse mix of residents, including young professionals seeking convenience, retirees living car-free, and remote or hybrid workers who still need easy access to occasional commutes.
What This Means for Buyers and Renters
Units near Tri-Rail stations are expected to attract tenants and buyers looking to cut commute costs. As South Florida real estate continues to appreciate, properties near public transit may also see stronger long-term value growth.
Federal Goals and the Bigger Picture
Reducing Car Dependency Nationwide
This federal loan is part of a bigger plan to shift national priorities:
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Fund mixed-use, walkable developments
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Increase public transit ridership
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Reduce carbon emissions and congestion
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Improve access to jobs and education
Boca Raton is now a case study for what the future could look like across the U.S.
Connecting Affordable Housing to Opportunity
By placing workforce housing next to rail stations, the federal government is aiming to connect people not just to places, but to opportunity.
The TIFIA program usually backs infrastructure projects like highways and airports. This loan marks a shift to support infrastructure that helps people live and work more affordably.
Boca Raton Is Building Smarter
This isn’t just about 300 new apartments or parking spaces. It’s about:
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Smarter city planning
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Cutting commute times
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Increasing housing access
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Growing the economy sustainably
Boca Raton is now leading the way in transit-connected housing, and other Florida cities will be watching closely.
Contact The Mastropieri Group ,Realtors® at (561) 544-7000. As trusted Boca Raton real estate agents, we can help you explore this area, understand pricing trends, and get early insights on new developments like The Colony Project.
Whether you're a buyer, renter, or investor, this could be your chance to get in early on Boca Raton’s next big move.
Posted by Larry Mastropieri on
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