Ocean One residential project OK’d in boost for downtown development
BOYNTON BEACH — Vacant land at Boynton Beach Boulevard and Federal Highway’s southeast corner will be developed into an eight-story apartment building with retail space on the first floor and a seven-story parking garage in a long-awaited project called Ocean One.
That’s the first phase of the project, which the Boynton commissioners on Tuesday unanimously approved while expressing their excitement. The second phase of Ocean One is expected to include another residential building, more retail and a hotel.
“I’m looking forward to this project moving forward, trying to make it the best it can be,” Mayor Steven Grant said.
Some of the details, including the money that will pay for the project, still have to be worked out.
Davis Camalier owns most of the land he wants to build on except for a portion owned by the city’s Community Redevelopment Agency. He wants that property — appraised in 2015 for about $460,000 — for free.
Camalier also wants the CRA to provide about $4.2 million for eight or 10 years in property taxes generated by the first phase of the project and about $3.6 million from Phase 2. The CRA would keep an estimated $6 million in tax revenue generated by the project, documents show.
The CRA board — which is the City Commission — will vote on the money likely Tuesday at the CRA meeting. Some type of time table regarding construction is also expected to be addressed at that meeting.
Ocean One is one of several residential developments — some with retail components — either recently approved or under construction in Boynton, a sign that a downtown could finally come to fruition for the city. Among them:
- 500 Ocean at Federal Highway and Ocean Avenue.
- Casa Del Mar on Federal Highway near Gateway Boulevard.
- Riverwalk at Woolbright Road and Federal Highway.
- Cortina at Congress Avenue and Old Boynton Road.
- High Ridge Landing at High Ridge and Miner roads.
“The city is moving and e ve r yo n e i n P a l m B e a c h Count y knows that. Businesses are looking because this is the place to be. One time it was Boca. They were priced out of the market. You can’t get land there. You know how costly anything is in Delray Beach. It’s coming here,” resident Robert Lewis said.
O c e a n O n e ’s s i t e p l a n includes about 25 more parking spaces than the code’s required 413, residents and officials are still worried if that will be enough. The parking ratio for a one-bedroom apartment is 1.33, but Oyer said if the rent isn’t affordable for one person, two people might live there, requiring two cars. She said the proj- ect is “grossly under-parked.”
Re n t s a r e e x p e c t e d t o range from about $1,100 to more than $2,000 per month, said Bonnie Miskel, on behalf of Camalier. “A little something for everybody,” Miskel said. The apartment building will have 231 units. The smallest apartment will be about 600 square feet, and the largest 1,600 square feet. The retail spaces will equal 8,575 square feet and will include a health club and fitness center.
As it is now, the Ocean One land is assessed at about $2.6 million, producing about $58,096 in taxes with about $19,645 going to Boynton, Miskel said.