New Office Opens and Homebuyer Assistance Program in Palm Beach Gardens

News Summary

Palm Beach Gardens sees significant growth with Kaufman Rossin opening a new office and OneUnited Bank launching a homebuyer assistance program for first-time buyers of color. The accounting firm’s expansion caters to the rising demand for financial services in the area. Meanwhile, OneUnited Bank’s initiative provides up to $50,000 in forgivable down payment assistance, promoting homeownership among underserved communities starting this year.

Exciting Developments in Palm Beach Gardens: New Office Opens and Homebuyer Assistance Program Launched!

Palm Beach Gardens is buzzing with some fantastic news! Kaufman Rossin CPA + Advisors, one of Florida’s leading independent accounting firms, has officially opened a new office in the North Tower of DiVosta Towers, located at 3825 PGA Blvd. Spanning an impressive 5,200 square feet, this marks the firm’s second location in Palm Beach County, about 40 miles north of their Boca Raton office.

This shiny new office will begin operations with around 45 skilled team members, all focused on providing top-notch financial services to the community. The reason behind this expansion? There’s been a growing demand for financial services in the area, particularly as more high-income individuals flock to Palm Beach County during and after the pandemic.

At the new Palm Beach Gardens location, residents can look forward to a wide array of services, including tax and transaction advisory, accounting, and assurance work. This is great news for local businesses and individuals looking for expert financial guidance right in their neighborhood.

OneUnited Bank Steps Up for First-Time Homebuyers of Color

OneUnited Bank, a prominent Black-owned bank, is ramping up its efforts in the Miami market by engaging in a fantastic initiative called Lift Up. This program is designed specifically to help first-time homebuyers of color, offering up to $50,000 in down payment assistance for eligible applicants. It’s such a vital step toward making homeownership accessible in communities that are often underserved.

For those interested, this is OneUnited Bank’s first year participating in the initiative, which is managed by the Federal Home Loan Bank of Boston. The program specifically targets Black, Latino, Asian, and Pacific Islander individuals, with income levels up to 120% of the area median income. It’s important to note that applicants need to have a mortgage approval and a home purchase lined up by April 1 to qualify for this fantastic opportunity.

What’s even better? The down payment grant is completely forgivable if the borrower stays in the home for five years. OneUnited Bank is committed to promoting homeownership among communities of color in Miami, which marks a significant step toward equal access to housing.

Banking Sector Growth and New Opportunities on the Horizon

Bank of America is enhancing its presence in Southeast Florida, aiming to attract ultra-high-net-worth clients by recruiting highly skilled professionals for its Palm Beach office. The new Palm Beach team includes advisers from Citi’s private banking division, who previously managed an astounding $7 billion in client assets. This recruitment strategy reflects a trend among financial institutions catering to the region’s wealth expansion. Ocean Bank announced plans to open a new branch in Boca Raton on November 12, which will mark its first entry into Palm Beach County. This new location will be helmed by Dhaanwatie Bhagwandin, a seasoned banker known for her extensive local experience. The Palm Beach County market is strong in construction and development loans, indicating an exciting time for both the bank and the community. Bison Wealth is also making its mark in Florida, set to open a new office in The Lost Tree Village Financial Center in Palm Beach come January 2025. The new team at Bison has helped manage over $600 million in assets, which speaks volumes about their expertise and the potential they bring to the area.

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