The Center For Arts & Innovation Terminates Multi-Million-Dollar Deal With Boca Raton
The Center for Arts & Innovation, a multi-million-dollar cultural hub for artists, businesses, students and creative entrepreneurs, has announced its decision to terminate its development agreement and lease with the City of Boca Raton.
The decision follows months of careful deliberation between both parties. On Jan. 8, The Center addressed a letter to the City, outlining challenges such as fundraising timelines, the need for public sector funding assurances, uncertainty around development rights and milestone structures. These factors ultimately hindered The Center’s ability to align with industry standards and meet donor expectations.
Although the original site for The Center was planned for the north end of Mizner Park, the organization’s vision and accomplishments to date are not tied to a specific location. The Center and its board remain committed to exploring alternative sites and are open to future opportunities with the City of Boca Raton.
“As someone born and raised in Boca Raton, I have wanted to make sure The Center would call Boca Raton home and that it could be the cultural destination that fulfills Mizner Park’s original vision,” said Andrea Virgin, Chair, CEO and Capital Donor of The Center for Arts & Innovation, in an article published by The Boca Raton Tribune on Jan. 8.
“While this decision to terminate our agreement with the City was not made lightly, it reflects our unwavering commitment to ensuring that this transformative vision is fully realized one day in the future. The Center’s purpose, mission and progress to date — remain unshaken. Together with our donors and partners, we will bring this project to life — whether in Boca Raton or another site that also shares our aspirations for success,” she added.
For more information, visit thecenterforartsandinnovation.org.
