Boynton Beach Considers Proposals from Related Group, Affiliated for Development Site on Federal Highway
Boynton Beach officials heard pitches from five developers to build on a prominent site on Federal Highway and awarded the highest marks to the Related Group and Affiliated Development.
The Boynton Beach Community Redevelopment Agency (CRA) issued the request for proposals (RFP) in July for the 2.28-acre site at 115 N. Federal Highway. City officials are seeking retail, office, workforce housing and public parking spaces on the site through a public-private partnership (P3). Boynton Beach is for positioned for big development opportunities, as it's centrally located between the employment centers of Boca Raton and West Palm Beach and land values are generally lower than in neighboring cities. This site is also located in a federal opportunity zone, so it offers significant tax benefits to invest there.
The CRA’s Advisory Board on Nov. 4 heard proposals from the following bidders: Fort Lauderdale-based Affiliated Development, Winter Park-based E2L Real Estate Solutions, Miami-based Hyperion Development Group, Miami-based Related Urban Development Group – an affiliate of Related Group, and Philadelphia-based U.S. Construction.
In the end, the Related Group plan was given the highest score, with the proposal by Affiliated Development in second place, only one point behind.