Hyperion Development Group is one step closer to realizing Ocean One, an eight-story residential development in Boynton Beach. The Miami-based firm purchased the 3.71-acre parcel for $12 million in 2022, and now, it’s hoping to get up to $9.9 million in tax rebates to make the venture possible. The Boynton Beach Community Redevelopment Agency (CRA) will discuss the proposal on Tuesday.
Site plans for Ocean One show a complex that would require 647,024 square feet of new construction, offering 371 apartments. The South Florida Business Journal indicates that residences would span 551 to 1,209 square feet, with floorplans ranging from studios to two-bedroom units.
The complex would offer more than 300 homes.
Aside from the residential aspect, Ocean One will host 25,588 square feet of commercial space and a 653-spot parking garage. Communal amenities include a pickleball court, fitness center, and swimming pool. Arquitectonica is the architect. Conceptual renderings show a modern, mid-rise community that features balconies on the upper-level units.
An aerial view of the future build site.
As part of the tax rebate, Hyperion Development Group could start construction by September 2025, although the developer could request an extension. The Real Deal reports that the project initially received approval last spring. Ocean One is set for 114-222 N. Federal Highway, Boynton Beach, FL, 33435, in Palm Beach County.
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Please send me information on how to apply for tentative I. The new developments