Michael Dell-backed firm spent $375m upgrading Boca Raton resort; 40% condos sold
The historic Boca Raton resort in Florida is undergoing a major transformation, incorporating luxury condominiums following a $375 million renovation. Backed by Michael Dell, the project has already seen 40% of its initial residential units sold to affluent buyers.
Why it matters
This development reflects a growing trend in the luxury real estate market where historic hospitality properties are being converted into high-end residential assets.
A $875 million investment in a historic Florida resort is expanding into the luxury residential market, with wealthy buyers showing early interest in its planned condominiums. According to the New York Post, around 40% of the first 75 luxury residences planned at The Boca Raton resort have already been claimed. The project follows the 2019 acquisition of the property by a firm backed by billionaire Michael Dell and approximately $375 million in subsequent renovations and upgrades, as reported by Bloomberg in April 2026.The development marks a new chapter for The Boca Raton, a landmark property that has traditionally operated as a luxury resort and private members' club.
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