Boynton Beach is witnessing a major transformation with the development of The Pierce, a mixed-use project that will reshape the city's downtown area. This dynamic development, led by Affiliated Development, not only introduces high-quality residential units and commercial spaces but also reflects the city’s commitment to inclusivity through workforce housing. For those interested in exploring opportunities in Boynton Beach real estate, The Pierce represents an exciting new chapter for the city.
A Vision for Inclusivity and Economic Growth in Boynton Beach Real Estate
Located at 115 North Federal Highway, The Pierce is strategically positioned in the heart of Boynton Beach’s downtown district. This development is set to be a catalyst for economic growth in the region. A key differentiator of The Pierce is its commitment to offering workforce housing—a significant addition to Boynton Beach real estate.
These properties play a crucial role in the BBCRA Redevelopment Plan, as they are situated within the Downtown District, Central Business District, and Transit-Oriented Development (TOD) area. Additionally, they are located adjacent to the planned future site of the Coastal Link commuter rail line, which is expected to enhance connectivity and transportation options in the region.
Boynton Beach real estate agents will find that projects like The Pierce provide an excellent example of the expansion of affordable housing options in the region, opening doors for a wider range of buyers and renters.
The Pierce: Key Project Details for Boynton Beach Realtors
The Pierce is a transformative mixed-use development spanning 2.28 acres with an eight-story structure. The project, developed by Affiliated Development with a construction cost of $80 million, includes units ranging from 572 to 1,423 square feet and features a diverse mix of unit types, including 75 studios, 126 one-bedroom units, 85 two-bedroom units, and 14 three-bedroom units. The development also offers 17,015 square feet of retail space for restaurants and shops, as well as 4,696 square feet dedicated to Hurricane Alley, a local barbecue restaurant. The Pierce will provide 587 parking spaces, including 150 deeded to the Community Redevelopment Agency (CRA). Residents will enjoy a range of amenities, including a pool, a pickleball court, and a fitness center.
Affordable Housing and Workforce Housing in Boynton Beach Real Estate
The Pierce stands out in the Boynton Beach real estate market due to its innovative approach to affordable housing. As part of the development's agreement, 50% of the units will be rented at 80%-120% of the Area Median Income (AMI) for the first 15 years following the project's completion. Afterward, 30% of the units will remain at these affordable rent levels for an additional 15 years, ensuring that the project remains inclusive and accessible for decades to come.
This long-term affordability strategy will help provide much-needed housing for working professionals in the area, which is essential for Boynton Beach’s ongoing development. The Pierce sets a new precedent for housing that is not only attractive and modern but also accessible for those at various income levels.
For those interested in real estate investing in Boynton Beach, projects like The Pierce offer unique opportunities to be part of this growing and evolving market while ensuring long-term sustainability and accessibility. Top real estate agents in Boynton Beach understand the importance of such developments and can provide valuable insight to potential investors.
The Pierce’s Expansion: Growth from 236 to 300 Apartments
The original plan for The Pierce called for 236 apartments, but as the project gained momentum, the plans were expanded to include 300 residential units. This expansion is a response to the growing demand for housing in Boynton Beach, a trend that has been seen across Boca Raton real estate as well. More people are moving to the area, attracted by its combination of affordable living and proximity to the coast, as well as its proximity to major business districts in South Florida.
With the additional units, The Pierce is poised to provide even more living options to residents in Boynton Beach. This expansion also supports the city’s broader goal of revitalizing its downtown and fostering a vibrant, walkable community. Realtors in Boynton Beach and nearby cities like Boca Raton understand how these developments contribute to the overall demand for real estate in the region.
A Catalyst for Economic Growth in Boynton Beach’s Real Estate Market
The development of The Pierce is part of a larger effort to modernize and invigorate downtown Boynton Beach. This project will provide not only housing but also much-needed retail and commercial spaces, helping to create a mixed-use environment that draws both locals and visitors alike. As a result, The Pierce is expected to play a key role in stimulating the local economy and attracting new businesses to the area.
Boynton Beach, like other parts of South Florida, is becoming a hub for real estate development, with an increasing number of projects focused on creating vibrant urban spaces. As these developments continue to reshape the city, The Pierce will undoubtedly be recognized as one of the flagship projects that drive this transformation.
For those interested in finding a home in Boynton Beach, The Pierce offers the perfect blend of modern amenities, convenience, and affordability, making it an appealing option for a wide variety of residents.
Why The Pierce Matters for Boynton Beach Real Estate
The impact of The Pierce on Boynton Beach real estate extends beyond its construction. The project represents the city’s commitment to creating a more dynamic and inclusive urban environment. As The Pierce helps drive local economic growth, it is likely to increase interest in both residential and commercial properties in the downtown area.
For Realtors Boca Raton FL and Boynton Beach Realtors, projects like this are indicative of the broader trends shaping the South Florida real estate market. With demand for modern, inclusive developments on the rise, working with top Boynton Beach realtors can help you navigate the increasing opportunities in the area.
Take the Next Step with Top Boynton Beach Realtors
If you’re looking to invest in Boynton Beach real estate or explore the potential of mixed-use developments like The Pierce, The Mastropieri Group is here to help. With extensive knowledge of the local market and access to exclusive listings, the team at The Mastropieri Group can guide you in finding the right property in Boynton Beach.
Whether you're buying your first home or searching for a lucrative investment, contact The Mastropieri Group at (561) 544-7000. As one of the best real estate agents in Boynton Beach, we specialize in helping clients find their ideal properties, ensuring a smooth and successful transaction. Let us help you make the most of Boynton Beach’s growing real estate market!
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