Boca Raton, FL – New affordable apartments are coming to the Heart of Boynton community. On July 27, 2018, the Florida Housing Finance Corporation (FHFC) awarded RS Development Corp. (a/k/a Ocean Breeze East Apartments, LLC, OBEAL) $2,700,000 in Annual Housing Tax Credits for ten years from its 9% Low Income Housing Tax Credit allocation to build a multi-family apartment complex consisting of 123 units. OBEAL, a for-profit affordable housing developer from Miami Lakes, was the successful respondent to the CRA’s Request for Proposal and Developer’s Qualifications (RFP/RFQ) for the CRA-owned 4.4 acre Ocean Breeze East site in August 2017. The Ocean Breeze East site was among 25 eligible sites, among six of the seven largest counties in Florida that competed for the estimated $14,601,863 of Annual Housing Credits available in 2017. Of the 33 applications received, six were from Palm Beach County.
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