Boynton Beach CRA - Projects - PCRA-Funded Projects

	CRA-Funded Projects Building the Future One Project at a Time Through property acquisition, project funding, partnerships with developers and other redevelopment activities, the CRA works to expand homeownership opportunities, beautify the City from downtown to the suburbs, create jobs and strengthen the local economy. With numerous townhome, condo, retail and office projects approved, in progress, or completed, Boynton Beach is well on its way to redevelopment that blends the past with the future, creating exciting new benchmarks of community excellence and economic vitality. Click on the links below to learn about how some key CRA-funded projects are defining the new Boynton Beach. Boynton Beach Boulevard Extension and Promenade Park The Boynton Beach CRA oversaw the completion of a 1.4 acre boulevard extension and waterfront ... more» Boynton Harbor Marina Since being purchased by the CRA in March 2006, the Boynton Harbor Marina has begun a series of ... more» Ocean Breeze Developer Proposes Affordable Housing at Ocean Breeze Site more» The Heart of Boynton Redevelopment Initiatives A CRA initiative devoted to creating quality commercial and residential development along Martin ... more» The Preserve at Boynton Beach The Boynton Beach Community Redevelopment Agency (CRA) teamed up with developer Cornerstone Group... more» The Promenade A luxury high-rise condominium under construction at the corner of Boynton Beach Boulevard and ... more» Boynton Beach Boulevard Extension and Promenade Park The Boynton Beach CRA oversaw the completion of a 1.4 acre boulevard extension and waterfront promenade just north of the expanding downtown and marina district. Bordering the Intracoastal Waterway and adjacent to a natural mangrove preserve, the promenade opened to the public in April 2006, providing an area for visitors to enjoy scenic walking trails, a seating area with shade structures, and a new waterfront venue for special events. Strategically planned by the CRA and City Commission, the 3-year, $13 million project helps preserve the City’s heritage and charm and is serving as a catalyst for new investment and development in the surrounding area such as Marina Village, and Town Center at Waterpoint Park and Ocean Tower. In October 2006, the Florida Redevelopment Association honored the boulevard extension and promenade project with its 2006 Roy F. Kenzie Award in the capital projects/beautification category, recognizing its innovative approach, positive impact on the community and applicability to other Florida communities. Return To Top Boynton Harbor Marina Since being purchased by the CRA in March 2006, a series of renovations began on the Boynton Harbor Marina, formerly known as the Two Georges Marina, designed to create a first rate, public access facility for boating and fishing that will welcome Boynton Beach residents to the waterways for generations to come. Cosmetic renovations such as painting, landscaping, and hurricane repairs have been addressed and 2007 marks the beginning of phase two improvements that will make the marina more pedestrian friendly with amenities that include new outdoor seating and public restrooms. To further maximize public access to the waterways, the CRA acquired an additional waterfront parcel in October 2006. The 7,000 square foot slice of land north of the Two Georges Restaurant will be converted into a passive park. The purchase includes fuel docks and 70 garage parking spaces to expand the on-site parking options for Marina tenants. With the goal of squaring off the marina for comprehensive renovations, the CRA is also pursuing the future acquisition of the Sea Mist drift fishing outfit, which includes four slips at the west end of the marina. The initial marina purchase was financed with money from a bond issued in December 2005. To support restoration efforts, the CRA also applied for and received $2 million in Palm Beach County bond money earmarked to help preserve public waterfront. Return To Top Ocean Breeze The CRA has unanimously voted to begin negotiating with American Realty Development LLC of Lake Mary to bring an affordable housing community to the site that was once home to the Boynton Terrace Apartments. The vacant CRA–owned property, more recently known as the site for proposed townhome community Ocean Breeze, straddles the east and west sides of Seacrest Blvd. between NW 7th and 8th Avenues. American Realty plans to partner with the Boynton Beach Faith Based Community Development Corp. for the project which calls for a mix of 84 income–restricted rental apartments on the east side of Seacrest and 56 townhouses for sale on the west side. The developer plans to pay the CRA $4.2 million for the 8–acre property. The selection of a developer for the project symbolizes the commitment by the CRA to create affordable housing that minimizes the displacement of residents in the Heart of Boynton. ”The American dream is home ownership,” said CRA board member Woodrow Hay. ”This can be viewed as a revitalization of life to the Heart of Boynton.” Return To Top The Heart of Boynton Redevelopment Initiatives A CRA initiative devoted to creating quality commercial and residential development along Martin Luther King, Jr. Blvd., the Heart of Boynton Plan took a giant step along the road to reality. In August 2006, the CRA Board selected a development group to begin negotiating a master developer agreement to lead the revitalization of the 26–acre corridor that encompasses Martin Luther King, Jr. Blvd. from Seacrest Blvd. to U.S.1. This will continue the process started by the City of Boynton Beach and CRA. To bring affordable housing opportunities to the Heart of Boynton’s MLK corridor, the CRA teamed with the Boynton Beach Faith Based Community Development Corp. to fund the purchase of vacant properties for conversion to workforce housing and also sold a property in the Cherry Hill area to Habitat for Humanity, In April 2006, the CRA initiated the creation of three new affordable homes with the purchase from Parker Properties of two vacant homes at 603 and 607 N. Seacrest Boulevard. By taking advantage of the oversized dimensions of the two properties, the CRA was able to create three lots for three new homes and is partnered with the CDC to manage the construction and find three qualified buyers. Construction is slated for completion in summer 2008. Ocean Breeze, a townhome community designed with Floribbean architecture, is planned for the property once home to the Boynton Terrace Apartments. The CRA Board purchased the property in 2007 and unanimously voted to begin negotiations with American Realty Development LLC to build affordable housing. Eligible Heart of Boynton property owners received financial support from the CRA through a new H.O.B. Residential Improvement Grant Program. The program offers up to $20,000 in funds for a full range of home repairs and upgrades, including air conditioning, electrical, hurricane shutters, landscaping, painting, plumbing, and roofing. The program is designed to provide residents with the opportunity to add value to their properties while giving the community an enhanced appearance. The Residential Improvement Grant Program; the Homebuyers Assistance Program; and the Community Improvement Program, a clean–up program involving the community’s youth, are all administered through the Boynton Beach Faith Based Community Development Corp. Return To Top The Preserve at Boynton Beach The Boynton Beach Community Redevelopment Agency (CRA) teamed up with developer Cornerstone Group to include affordable housing at The Preserve, a master–planned luxury condominium and townhome community located in Boynton Beach. Through the joint financing effort, income– eligible buyers can qualify for as much as $160,000 in financial assistance on a condo or townhouse. With up to $60,000 developer contributions, up to $50,000 in funds from the State Housing Initiatives Partnership (S.H.I.P.), and another potential $50,000 from the CRA’s Homebuyer’s Assistance Program, the price on a $279,990 three–bedroom condo can be reduced to as low as $119,990. ”The Boynton Beach CRA is intensely committed to pursuing every opportunity to create affordable housing in our community, ” said Executive Director Lisa Bright. ”With our Homebuyer’s Assistance Program and partnerships with developers like Cornerstone Group, we’re removing some of the obstacles that Boynton Beach residents face as they try to get out of rentals and into homeownership. ” Located at 1801 NE 4th Street, The Preserve offers 180 two and three–story townhouses and condos at market rate prices ranging from $279,000 to $299,000. 50 units as affordable housing for people who meet certain income guidelines are designated Applicants’ income cannot exceed 120 percent of Palm Beach County’s median household income relative to family size. For a family of four, that would be $77,280. ”In today’s volatice housing market, middle income workers like teachers, police officers, and nurses are often frozen out of homeownership opportunities that offer an excellent quality of life for them and their families, ” observed Bright. ”The Preserve is an example of what is possible when developers and local leaders work together to find solutions to critical issues like the affordable housing shortage.” Designed around a park–like setting, The Preserve’s condos and townhouses range from 1,398 to 1,994 square feet in two–and–three bedroom models. The project’s amenities include a decorative entry into a gated community, clubhouse and pool, and children’s tot lot. For financing qualification information, call 1-866-740-3111 or 561-740-3111. For more information on The Preserve, visit the on–site office at 1801 NE 4th Street (south of Gateway Blvd.), Boynton Beach, or log on to www.preserveboyntonbeach.com. Cornerstone Group is a Coral Gables–based developer that has built more than 16,000 apartment and condominium units throughout Florida. Return To Top The Promenade A luxury high–rise condominium under construction at the corner of Boynton Beach Boulevard and U.S. 1, Promenade will feature 318 condo residences, 77 hotel suites, and 20,000 square feet of street–front retail and restaurant space in two 14–story towers. The project, which has a market value of $125 million, offers an array of luxury amenities, captivating ocean views, and an ideal waterfront location in the center of Boynton Beach’s downtown revitalization. After a delay prolonged by the slow 2006 real estate market, the CRA stepped in to assist project developer Boynton Waterways Investment Associates with a site plan extension and Promenade is back on track and moving forward in 2008. In point of fact, Promenade is a benchmark project in the CRA’s creation of a downtown "Master Plan – 2007," which serves as a key tool in the big job of managing redevelopment. Adding to The Promenade’s lifestyle allure is Promenade Park, an adjacent waterfront park opened in April 2006 that borders natural mangrove preserves, provides scenic walking and jogging trails along the Intracoastal Waterway, public art, shaded public seating and a year–round waterfront setting for events. Return To Top