Affiliated Development closed on a $73 million construction loan with Pacific Life Insurance Company for The Dune, a mixed-use, mixed-income multifamily development in Boynton Beach, Florida.

Located off Federal Highway just north of Delray Beach, The Dune will deliver 336 residential units, including 298 apartments in an eight-story building and 38 three-story townhomes with internal parking garages, along with street-level retail and structured parking. 

The project contains 198 units reserved for households earning between 80% and 120% of Area Median Income, providing high-quality workforce housing in a high-barrier, coastal market.

To facilitate the development, Affiliated Development utilized the State of Florida’s Live Local Act, which allows for certain mixed-income residential projects that dedicate at least 40% of the units to workforce housing to obtain expedited development approvals as well as height and density bonuses.

In addition to The Dune, Affiliated Development is developing The Pierce, a nearby 300-unit mixed-use workforce housing development that will include 17,000 square feet of retail and restaurant space.