BDT & MSD Partners received approval on Mar. 25 from Boca Raton’s City Council to move forward with a planned condominium development at the historic Boca Raton resort and club.
The council’s unanimous vote allows BDT & MSD to proceed with an eight-story, 76-unit condo building at 501 East Camino Real. The units will range from two to five bedrooms and be built on a 5.2-acre site within the resort, according to planning documents. The project is designed by New York-based architecture firm Hart Howarton, led by Jim Tinson.
This decision was among the final actions taken by the current city council before a new majority of anti-development candidates—elected in a landslide on March 10—are sworn in next week.
The original hotel, dating back to 1926, was designed by architect Addison Mizner and now spans 337 acres with more than 1,000 rooms and extensive amenities including golf courses, a marina, sports courts, and numerous dining options. BDT & MSD acquired the property from Blackstone for $875 million in 2019 and has since invested $75 million in renovations. In addition, they secured $1 billion in refinancing for the resort in 2024 after reporting a significant increase in revenue per room over five years.
Since merging in 2023, BDT & MSD has increased its investments across luxury hospitality properties. The firm is reportedly nearing an agreement to purchase two Four Seasons resorts for over $1 billion and has made other major investments including lending funds for Palm Beach developments and acquiring a minority stake in Auberge Resorts Collection.
