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Boynton Bay

Site: Number of Units:

24 acres 240 units plus a

Completion: Renovation:

child care center 1992 2008

Owner: Developer:

Boynton Bay, Ltd.

Florida Affordable Housing Inc. (FAHI), now developing new properties as Auburn Development, LLC

Approximate Cost: $15,000,000

p: 561.278.3901

f: 561.278.3903

777 East Atlantic Ave., Suite 200

Delray Beach, FL 33483

www.AuburnCommunities.com 6

Florida Affordable Housing Inc. (FAHI) developed and is the co-owner and manager of this affordable housing community in Boynton Beach, Fla. for low-income seniors with a day care center. FAHI received approval from the Florida Housing Finance Agency for a $2,655,000 State Apartment Incentive Loan (SAIL) second mortgage loan, ranking first among 38 applicants for the 1989 funding cycle. Palm Beach County approved a $1,000,000 third mortgage loan, utilizing Community Development Block Grant (CDBG) funds on terms identical to SAIL loan, and the City of Boynton Beach approved $200,000 grant to the Hamlet, Ltd. Palm Beach County Division of Senior Services has designated Boynton Bay as a Senior Center, so that its low- income senior residents are provided free noon meals in the clubhouse, free bus and van transportation for shopping, medical visits and recreational trip and a daily activities director.

499 Boynton Bay Circle

Boynton Beach, FL 33435

(561) 364-7600

Award winning development

Boynton Bay received the Best Affordable Multifamily Senior Development Award from the National Association of Home Builders Pillars of the Industry national competition.

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