Town Square

• PROJECT LOCATION: 120 SE 1st Avenue (South Parcel) and 100 E. Boynton Beach Boulevard (North Parcel)
• BBCRA DISTRICT: Cultural (South Parcel) and Boynton Beach Boulevard (North Parcel)
• DEVELOPER(s): Time Equities Inc. 
• BBCRA FUNDING:
  • SOUTH PARCEL TIRFA: $20 Million
  • NORTH PARCEL TIRFA: $15.2 Million 

PROJECT DESCRIPTION:

The Town Square Project is a 16.5 acre mixed-use and governmental complex which has long been identified as the catalyst project for both the Boynton Beach Boulevard and Cultural Districts. 

The City Hall & Library, Fire Station No. 1, Cultural Center and Centennial Park Amphitheater were completed in 2020. 

In May 2023, the City Commission approved the Town Square Development Agreement with Time Equities Inc.  (TEI) for the development of the vacant north and south parcels surrounding City Hall. One year later, the City Commission approved the site plans for both the south and north parcels to include a total of 898 market-rate rental apartments, 23,500 square feet of commercial space and 2,054 parking spaces which includes 473 public parking spaces.  

At the January 14, 2025 meeting, TEI presented the BBCRA Board with a request for Tax Increment Financing for the development of the two parcels. The Board directed staff and legal counsel to negotiate the terms of the request and bring it back for further discussion. 

At the May 13, 2025 meeting, the BBCRA Board approved two Tax Increment Revenue Financing Agreements (TIRFA) totaling $35.2 million dollars ($20 million for the South Parcel and $15.2 million for the North Parcel). As part of the TIRFA, TEI committed the following:  

• 3,000 square feet of designated retail space in the North Parcel with a rent discount of 50% market rate for 10 years
• 1,000 square feet of local designated retail space in the South Parcel with a rent discount of 50% of market rate for 10 years
• TEI will also fund the interior build-out to the first tenant of the local designated retail spaces at $50/square foot ($200,000 total)
• TEI  will solicit and procure local artists to paint murals in the covered loggia retail plazas in the North Parcel

Per the TIRFAs, the South Parcel construction commencement date is no later than October 1, 2026 and the North Parcel construction commencement date is December 31, 2031.