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Avison Young arranges for FAU Tech Runway to lease space at the new Boynton Beach Town SquareAugust 2, 2021
Boynton Beach, Fla. – Avison Young is pleased to announce that, following a Boynton Beach City Commission 4-0 vote on July 20, 2021, FAU Tech Runway has been approved to lease the 1,850-square-foot, ground-floor innovation and collaborative office space at City Hall at Boynton Beach Town Square. As part of the agreement, Boynton Beach’s Department of Economic Development and Strategy will provide a one-time $50,000 grant for programming within the space.
“FAU Tech Runway is excited to open a satellite office in Boynton Beach and be part of the City’s effort to help entrepreneurs,” said Joshua D. Glanzer, Associate Vice President of Media Relations and Public Affairs at Florida Atlantic University. “We look forward to the next steps with the City and its partners while we finalize the necessary paperwork.”
Located at 100 E. Ocean Ave., Town Square represents a public-private partnership between the City of Boynton Beach, the Boynton Beach Community Redevelopment Agency, and E2L Real Estate Solutions, master developer of the 16.5-acre complex anchoring the heart of downtown Boynton Beach, Florida.
“Having first-hand experience with the Research Park at FAU in Boca Raton and the success of hosting Tech Runway graduates in the Park, it was clear that FAU would be the ideal growth accelerator and value creator for Town Square,” said Keith O’Donnell, Principal with Avison Young. “Together, the unique opportunity for FAU Tech Runway to expand its offerings and brand in Palm Beach County at Town Square, the County’s first City Hall public-private partnership.”
O’Donnell has worked alongside the public-private partnership and spearheaded the Boynton Beach Town Square assignment for the past five years. Additionally, he handled the relocation of the entire City Municipal Services off-site for two years while the project was developed.
“As the five-year master developer on the Town Square project, we’re looking to the future and believe welcoming FAU Tech Runway for the space to provide programming for new businesses and entrepreneurs marks an important milestone,” said Mark Hefferin, President of E2L Real Estate Solutions, LLC. “It has been wonderful to witness the City of Boynton Beach creating forward-thinking opportunities for its citizens, and we’re pleased that Avison Young brought FAU to the table to be a part of what the city is building.”
The Town Square project includes the $118 million renovation of the historic Boynton Beach High School into an Arts and Cultural Center, a Children’s Schoolhouse Museum, fire station, residential, retail and hospitality space, amphitheater, hotel, parking garages, library, a new City Hall and creates a positive community and economic impact.
“We are excited that FAU Tech Runway will operate the space at Town Square, which offers on-campus resources unavailable anywhere else in Palm Beach County,” said Lori LaVerriere, Boynton Beach City Manager. “Having a tech and business incubator at City Hall not only facilitates a pipeline of startups in the city, but it also plays a significant role in establishing the future of downtown.”
The City of Boynton Beach is undergoing a renaissance and regeneration. Current and future planned development underscore the City’s growth and investment opportunities. Planned projects such as 115 North Federal Hwy., the CRA’s East Boynton Beach Boulevard (BBB) Corridor project, and Riverwalk complement the redevelopment of Downtown Boynton Beach as a destination for residents, visitors, and businesses.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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For more information:
Keith O’Donnell, Principal, Avison Young: 561.445-8107