'Bullish on Boynton Beach:' Developer Buys Site for Live Local Act Project

Affiliated Development has acquired a retail property in Boynton Beach, marking the first development under Florida's Live Local Act. The property, purchased for $12.03 million with $6 million in seller financing, will be transformed into a multifamily complex named the Dunes. This project, comprising 336 apartments and ground-floor commercial space, aligns with the Act's requirements, with at least 60% of the units designated as workforce housing. The Act allows for streamlined approval processes for such developments, enabling Affiliated Development to move forward quickly. The company aims to commence construction on the Dunes within four to six months.

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