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Time Equities Inks $160M Construction Loan for Boynton Beach Apartments
Time Equities is heading up a project in Boynton Beach, thanks to closing on a $160 million construction loan. The S. Florida Business Journal reports that M&T was the lender on the project, which will include 465 apartments, 6,300 square feet of retail and 50,000 square feet of amenities. Kast Construction is the builder.
The property at 120 S.E First Ave, which is on municipal land, covers 3.77-acres. The project, called Town Square, is a public-private partnership consisting of Time Equities and a Boynton Beach economic development entity. Time Equities was approved for development on two adjacent parcels. The south parcel has broken ground, while the north parcel could have another 433 apartments, 16,809 square feet of retail.
Time Equities was awarded $35 million of tax increment financing from the Boynton Beach Community Redevelopment Agency.
- ◦Development
