Opterra’s Holiday Inn hotel-to-resi conversion moves ahead in Boca Raton

Opterra Capital’s plans to convert a 1980s-era Holiday Inn into an apartment complex received the unanimous endorsement of Boca Raton’s Planning and Zoning Board Thursday. The local firm plans to turn the 183-room Holiday Inn & Suites at 701 Northwest 53rd Street into a 125-unit apartment building with a 5,550-square-foot restaurant and 4,500 square feet of retail. The project calls for 74 efficiency apartments, 43 one-bedrooms and eight two-bedrooms. Thirteen apartments will be designed as affordable housing, and seven will be workforce units. An affiliate of Boca Raton-based Opterra, led by CEO Glenn Alba, and Charleston, South Carolina-based Montford Group […]

This article originally appeared on The Real Deal. Click here to read the full story.