Ocean One Breaks Ground in Downtown Boynton Beach
City officials, project partners, and community leaders gathered Tuesday, October 6, to celebrate the official groundbreaking of Ocean One, a class A mixed-use development set to expand residential and retail offerings in Downtown Boynton Beach.
Developed by Hyperion Group, Winter Properties, WREP, and Silverstein Properties, the project is backed by equity funding from affiliates of Cantor Fitzgerald and Silverstein Properties, along with construction financing provided by Madison Realty Capital. Ocean One represents a major investment in the city’s urban core, featuring 371 luxury rental residences and 25,500 square feet of curated retail space designed to create a walkable environment.
Design and On-Site Amenities
Miami-based architecture firm Arquitectonica led the architectural design for the project.
Ocean One will offer a range of resident amenities, including:
A resort-style pool deck
A fitness center
Resident lounges and coworking spaces
Outdoor recreation areas
Secure package and mail facilities
On-site management services
Public-Private Partnership
The City of Boynton Beach and the Boynton Beach Community Redevelopment Agency (CRA) partnered with the development team to advance the project. The CRA approved up to $11.5 million in Tax Increment Revenue Funding over a 14-year term. As part of the agreement, Ocean One will provide 90 public parking spaces and 20 on-street public parking spaces in perpetuity to support downtown accessibility.
"Ocean One is more than a development—it’s a commitment to Boynton Beach’s future," said Robert Vecsler, CEO of Hyperion Group. "Today’s groundbreaking marks the beginning of a project that will bring new housing, new jobs, and new energy to the city. We are grateful for the City’s partnership and shared vision."
City officials highlighted the project as a model for public-private collaboration that expands local housing availability, enhances public infrastructure, and drives economic momentum.