New developments get scrutinized in this South Florida city. But some proposals are easier to defend than others, like adding 736 apartments to a half-vacant shopping center on Federal Highway.
- JBL Asset Management plans two eight-story buildings with 736 apartments at Rivertowne Square.
- The developer paid $18.8 million for the 13-acre site in 2022; it is currently about 50% vacant.
- Phase 1 construction is slated for 2027 if the city approves the rezoning and height waivers.
Rivertowne Square is a 13-acre shopping center at 1015 South Federal Highway in Deerfield Beach, dating back to 1980. Today, roughly half of it sits vacant. According to The Real Deal, JBL Asset Management, a Hollywood-based real estate developer, has filed plans to redevelop the site into two eight-story buildings with 736 apartments, 24,000 square feet of ground-floor retail, and two parking garages with 1,232 spaces. The existing Winn-Dixie, a regional grocery chain, would be remodeled and remain. The Planning and Zoning Board is reviewing the rezoning, plat, and site plan applications in early September 2026.
Why does this proposal make sense for Deerfield Beach?
Deerfield Beach has a complicated relationship with density. Residents voted in 2002 to limit beachfront development, and the city has pushed back on projects that would change the character of its coastal neighborhoods. But Rivertowne Square is different.
The site sits on Federal Highway, well inland from the beach. The shopping center is already half-empty, with the former Bealls department store sitting vacant. Converting an underused strip center into housing does not displace residents or change a waterfront skyline. It replaces surface parking and dead retail with something the market actually needs.
What stays: The Winn-Dixie would be remodeled and remain as the grocery anchor. Outparcel buildings occupied by Tijuana Taxi Company and Buffalo Wild Wings would also stay. JBL is working to keep smaller tenants in place as long as possible, though some would eventually be displaced when construction begins.
What gets built: The plan calls for demolishing the former Bealls and constructing two eight-story residential buildings with 736 apartments. Of those, 106 units would be restricted to households earning up to 120% of area median income (workforce housing). Amenities include a pool, clubhouse, fitness center, and two parking garages totaling 1,232 spaces. Ground-floor retail would add 24,000 square feet of commercial space.
Who is behind the project?
JBL Asset Management is led by Jacob Khotoveli and based in Hollywood. The firm paid $18.8 million for Rivertowne Square in June 2022 and also owns other Broward County shopping centers. The "half-vacant shopping center to apartments" playbook is becoming more common across South Florida as retail struggles and housing demand stays strong.
JBL has requested a rezoning along with height and density waivers to build the eight-story structures. If approved, construction would happen in two phases, with Phase 1 slated to begin in 2027.
How does this fit with other Deerfield Beach projects?
Rivertowne Square is not the only development moving through the city's approval process. Deerfield Beach City Center is a separate proposal for three 14-story mixed-use buildings on city-owned land, including 150 residential units, a 120-room hotel, and 132,500 square feet of office space. That project has a voter mandate behind it after the city sold the parcel in a 2023 referendum. The P&Z Board heard that application on September 3.
The Axis brought 237 apartments to Federal Highway near Hillsboro Boulevard, approved in December 2024 despite resident opposition. K Hovnanian's Tides project would add 43 townhomes near Deer Creek Country Club. Meanwhile, voters head to the polls on November 3 to decide whether to loosen the beachfront FAR restrictions that have shaped the city since 2002.
A city of roughly 90,000 that resisted development for decades is now fielding proposals on multiple fronts at once.
Watching how Deerfield Beach handles density? Talk to a Deerfield Beach real estate agent who tracks what gets approved and what gets blocked. Reach out to The Mastropieri Group or call (954) 388-7738.
What does Larry think about this one?
Rivertowne Square is the kind of redevelopment that probably makes more sense than some of the more controversial density fights in Deerfield Beach. It is a half-vacant 1980s shopping center on Federal Highway, away from the beach, with a plan for 736 apartments, restricted units, ground-floor retail, parking garages, and the Winn-Dixie staying in place. Deerfield has historically resisted density, but if the city is going to add housing, an underused strip center like this is one of the more logical places to start.
Cities across South Florida are wrestling with the same question: where does new housing go? The answer is rarely the beach. It is usually the tired commercial corridors that no longer work as retail but sit on valuable land with existing infrastructure. Rivertowne Square fits that description exactly.
What happens next?
The Planning and Zoning Board is reviewing JBL's rezoning, plat, and site plan applications in early September 2026. City Commission approval would follow. JBL needs both the rezoning and the height and density waivers to build eight-story structures on a site currently zoned for retail.
Given the city's history with density proposals, public hearings could draw opposition from residents concerned about traffic, parking, or neighborhood character. But the fundamentals here are different from a beachfront tower. This is a commercial site that is already underperforming. The grocery store stays. The housing includes a workforce component. If Deerfield Beach is going to approve 736 new apartments anywhere, a half-vacant strip center on Federal Highway is a more defensible choice than most.
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Frequently Asked Questions about Rivertowne Square Redevelopment
Where is Rivertowne Square in Deerfield Beach?
Rivertowne Square is a 13-acre shopping center at 1015 South Federal Highway in Deerfield Beach. The site sits on the west side of US-1, south of Hillsboro Boulevard and away from the beachfront area. Built in 1980, it currently includes a Winn-Dixie grocery store, Tijuana Taxi Company, Buffalo Wild Wings, and several vacant retail spaces including the former Bealls department store.
How many apartments are proposed for Rivertowne Square?
JBL Asset Management has proposed 736 apartments in two eight-story buildings. Of those, 106 units would be restricted to households earning up to 120% of area median income (workforce housing). The plan also includes 24,000 square feet of ground-floor retail, a pool, clubhouse, fitness center, and two parking garages with 1,232 spaces.
When will Rivertowne Square apartments be ready?
If the city approves the rezoning and height waivers, Phase 1 construction is slated to begin in 2027. The project would be built in two phases, though the developer has not announced a completion timeline. City Commission approval must follow the Planning and Zoning Board review before construction can start.
What is workforce housing at Rivertowne Square?
Of the 736 proposed apartments, 106 units would be restricted to households earning up to 120% of area median income. This is considered workforce housing, targeting middle-income residents like teachers, nurses, and first responders who earn too much for traditional affordable housing but struggle with market-rate rents in South Florida.
Will the Winn-Dixie at Rivertowne Square close?
No, the current plans call for the Winn-Dixie to be remodeled and remain in place. The outparcel buildings occupied by Tijuana Taxi Company and Buffalo Wild Wings would also stay. JBL is working to keep smaller tenants in place as long as possible, though some would eventually be displaced when the former Bealls is demolished.
Local help for buyers and investors in Deerfield Beach
If you are buying, selling, or investing in Deerfield Beach, understanding how redevelopment proposals move through the approval process matters. Reach out to The Mastropieri Group, Realtors®.
For practical, hands-on support across Deerfield Beach, call (954) 388-7738.
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