Boynton Beach Insider

The Boynton Beach Community Redevelopment Agency (BBCRA) is pleased to announce the next major step in the Town Square Project—the upcoming development of the residential and commercial components.

Spanning 16.5 acres in the heart of downtown, the Town Square Project is a mixed-use and government complex that has long been envisioned as a catalyst for revitalization for the Boynton Beach Boulevard District and Cultural District.

The initial phase, completed in 2020, delivered important civic and cultural facilities including City Hall & Library, Fire Station No. 1, the Cultural Center, Kapok Park and the Centennial Park Amphitheater.

In May 2023, the City Commission approved a Development Agreement with Time Equities Inc. (TEI) to transform the vacant north and south parcels surrounding City Hall. One year later, the site plans were approved for a transformative addition to the area, including:

• 898 market-rate rental apartments
• 23,500 square feet of new commercial space
• 473 public parking spaces

To support this significant investment in our community, TEI submitted a request for Tax Increment Financing (TIF) in January 2025. Following negotiations, the BBCRA Board approved two Tax Increment Revenue Financing Agreements (TIRFAs) on May 13, 2025, totaling $35.2 million—with $20 million allocated for the South Parcel and $15.2 million for the North Parcel.

As part of this agreement, TEI has committed to several community-focused initiatives:

• 3,000 square feet of designated retail space in the North Parcel at a 50% rent discount for 10 years
• 1,000 square feet of local retail space in the South Parcel, also at a 50% rent discount for 10 years
• A $200,000 investment toward the interior build-out for the first local retail tenants
• The commissioning of local artists to create murals in the covered retail plazas of the North Parcel

Construction timelines have been set:

• South Parcel: To begin no later than October 1, 2026
• North Parcel: To begin no later than December 31, 2031

This next phase of development marks a major milestone in our ongoing effort to create a vibrant, inclusive downtown. We look forward to sharing more updates as this transformative project moves forward.

Visit the Town Square project page to learn more about this development.