The Center for Arts & Innovation receives formal approval for 94-year ground lease in Downtown Boca Raton

The Center for Arts & Innovation receives formal approval for 94-year ground lease in Downtown Boca Raton

BOCA RATON, FLORIDA – The organization behind the forthcoming Center for Arts and Innovation, a world-class center of the future, has received official approval by the City Council of Boca Raton for the execution of both a development and construction agreement as well as a ground lease for a total term of 94-years for both parcels east of the Museum of Art.

“_______,” says Andrea Virgin, CEO & Chairman of the Board of The Center (BRADEC), the institution’s driving force. “This complex will be a space for everyone, especially young people who are curious to experience inspirational, thought-provoking works of art. Millennials and Gen Z understood the value of NFTs long before the medium became popular, and we hope to connect with these local artists and art-lovers, so they know there’s a place for them right here in Boca Raton.”

NFTs have become extremely popular among charitable organizations in the past year. It’s increasingly common to see six- and seven-figure proceeds from NFT sales, donated in the equivalent cryptocurrency, with celebrity endorsements and charitable gifts running as high as $3.5 million.

“The spirit of this Center, for me, has always been innovation,” says Matt Cimaglia, a board member of BRADEC and the co-founder of the creative platform Alteon, who is working closely on the NFT fundraiser. “Today’s technology was unthinkable a decade ago, and the pace of this evolution is only getting faster. That’s why it’s critical that we build a future-proofed space, integrating Web3 technologies and the internet speeds of tomorrow.”

BRADEC has already raised $10 million for the Center in 2021. The local community is overwhelmingly excited about revamping Mizner Park’s existing 3,500-seat amphitheater, drawing increased attention to nearby local businesses and filling the cultural gap between West Palm Beach and Fort Lauderdale.

About the Boca Raton Center for Arts & Innovation

World-class performing arts venue. State-of-the-art event space. Iconic cultural landmark. Incubator for innovation and education. And a calling card of cities that have arrived. Situated in the heart of downtown Boca Raton, the Center will provide not only a permanent home for regional cultural organizations in dance, theater, and music, but also be a place where 7 different flexible and innovative spaces can curate experiences either indoors or out, public or private, free or ticketed; for the young or old, student or professional, either day or night, weekday or weekend, and all year long – this Center is truly a Center for ALL.