Posted by Larry Mastropieri on Tuesday, May 20th, 2025 11:02am.
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.
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.
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:
Reduce car dependence
Promote transit use
Add housing near existing infrastructure
The Boca Raton transit housing model offers a new path forward, blending smart growth with commuter convenience.
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:
Parking for daily commuters
Retail spaces for transit riders and residents
Direct pedestrian access to the station
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.
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.
According to official ridership data, the Boca Tri-Rail station is among the busiest in South Florida:
22,497 boardings in October 2024
22,408 exits at the same station
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.
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.
Boca Raton offers the perfect test case for transit-oriented development in Florida:
High ridership
Dense employment areas nearby
Room for infill and mixed-use development
A city government open to innovative growth strategies
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.
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.
This federal loan is part of a bigger plan to shift national priorities:
Fund mixed-use, walkable developments
Increase public transit ridership
Reduce carbon emissions and congestion
Improve access to jobs and education
Boca Raton is now a case study for what the future could look like across the U.S.
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.
This isn’t just about 300 new apartments or parking spaces. It’s about:
Smarter city planning
Cutting commute times
Increasing housing access
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.