Ocean One Mixed-Use Development Commences Construction in Boynton Beach

An official groundbreaking ceremony was held on October 6 for Ocean One, an eight-story mixed-use development located at 114-222 North Federal Highway in downtown Boynton Beach. This significant project, designed by Miami-based Arquitectonica, will feature 371 rental residences alongside 25,500 square feet of retail space.

The development is a collaborative effort by Hyperion Group, Winter Properties, WREP, and Silverstein Properties. Funding includes equity from affiliates of Cantor Fitzgerald and Silverstein Properties, with Madison Realty Capital providing construction financing. Newmark played a key role in arranging both the joint venture equity placement and a $108 million construction loan.

The Boynton Beach Community Redevelopment Agency (CRA) has committed up to $11.5 million in Tax Increment Revenue Funding over a 14-year term. In return, Ocean One will provide 90 public parking spaces and an additional 20 on-street public parking spaces. Site plan approval was granted in March 2023, with construction commencing in August 2026 and an estimated completion in late 2028. This project is expected to enhance downtown Boynton Beach with new housing, job opportunities, and increased economic vitality.