Boynton Beach is set to welcome "The Dune," a significant new development by Affiliated Development. This project aims to address the housing crisis by offering a mix of affordable apartments and townhomes, enhancing the community’s housing options. The development is designed to provide quality living spaces while maintaining affordability for a range of income levels.
Key Takeaways
- The Dune will feature 336 residential units, including 298 apartments and 38 townhomes.
- A substantial portion of units (198) will be designated for households earning 80% to 120% of the area median income.
- The project leverages state and local initiatives like the Live Local Act and Palm Beach County’s Workforce Housing Exchange Program.
- Pacific Life Insurance Company has provided a $73 million construction loan.
A New Era of Affordable Living
The Dune development is poised to introduce 336 new residential units to Boynton Beach, comprising 298 apartments within an eight-story building and 38 three-story townhomes. This project is specifically designed to promote affordability, with 198 units reserved for households earning between 80% and 120% of the area median income. Some of these residences will offer desirable Intracoastal and ocean views, blending affordability with premium living.
Unlocking Housing Solutions
Affiliated Development has utilized key state and local programs to make The Dune a reality. The project tapped into Palm Beach County’s Workforce Housing Exchange Program and the state’s Live Local Act, legislation designed to facilitate the creation of workforce housing in high-cost areas. This strategic approach, combined with a $73 million construction loan from Pacific Life Insurance Company, underscores a commitment to innovative solutions for the current housing crisis.
Nick Rojo, co-founder of Affiliated Development, highlighted the importance of these public policies. "The Live Local Act has created a meaningful pathway to deliver workforce housing in high-cost markets, and The Dune is a strong example of how thoughtful public policy can help unlock much-needed housing while maintaining design quality and community standards," Rojo stated. He further emphasized that "Providing quality, attainably priced housing would not be possible without participation from our public partners; it takes creative solutions to address the housing crisis, especially given the current cost environment."