The Boynton Beach Town Square project, approved in 2018, is only half-finished, with the public sector portion completed in 2020. The private development phase, initially partnered with JKM Developers, stalled for nearly seven years. New York-based Times Equities (TEI) has reimagined the project with two eight-story complexes housing around 900 apartments and is requesting up to $35.2 million in tax increment financing (TIF) from the city to complete it.
This TIF proposal, which would allocate 95% of the tax increment revenue over two phases, is facing significant opposition from Boynton Beach residents. Opponents, like longtime residents Cindy Schade and Linda Morton, express concerns about increased traffic, a decline in the town’s “quaint beach town” character, and argue that the funds would be better used for public safety and infrastructure. They view the request as an excessive incentive for developers.
Conversely, TEI developers argue that the completed project will generate more revenue and beneficial growth for the city. Mayor Rebecca Shelton acknowledges the community’s divided opinions and emphasizes the need for further discussion and citizen input before the Community Redevelopment Agency’s scheduled vote on the proposal on April 8th. She also raised concerns about the potential for “dark and blighted” empty lots if the project doesn’t proceed.
