500 Ocean, a best in class mixed-use apartment community located in Boynton Beach, FL, will include 341 luxury multifamily rental units and approximately 20,000 square feet of commercial space, conveniently located on the corner of Federal Highway (U.S. Hwy. 1) and E. Ocean Avenue, just off the Intracoastal Waterway and the Atlantic Ocean.
The community will consist of generous one bedroom, one bedroom with den, two bedroom and three bedroom units, with an average size of 1,019 square feet. The spacious, open floor plans are designed with high quality finishes including designer kitchens with granite countertops, stainless steel appliances, 36-inch custom cabinetry, nine-foot ceilings, plush flooring, large walk-in bedroom closets, and sound-engineered resident separation walls. Additionally, all residences enjoy a large balcony, many of which will have intracoastal and ocean views. Plans call for the construction of a single, six-story, concrete building serviced by multiple elevators as well as a 664-space integrated parking garage. Amenities will include an elaborate clubhouse, fitness center, club room, theater room, bowling center, private dining room, cyber café/game room, lounge, summer kitchen and two courtyards complete with lush landscaping and an expansive pool.
In addition, the project’s design and planned construction has been designed to meet The National Green Building Standard (NGBS) Silver Certification, which will not only benefit the environment but also the residents who will realize utility savings, carbon reductions and water savings, among other things. Also, in partnership with the Boynton Beach CRA (Community Redevelopment Agency), 500 Ocean has been approved for a TIF agreement (Tax Increment Financing) which will help to achieve the long-term redevelopment goals of the city.
500 Ocean is a joint venture between LeCesse Development, Morgan Management, Drum Hill Partners, Kaali-Nagy Residential and Atlantic American Opportunities Fund. Financing was provided by SunTrust Bank in Orlando. The architect is MSA Architects and the general contractor is LandSouth Construction. The IBI Group is the engineering firm on the project and RunBrook is the environmental consultant.
Residences will become available for lease beginning in the fall of 2016.