The local Community Redevelopment Agency, which has been buying up smaller parcels in a rundown neighborhood along West Atlantic Avenue, has assembled a 4.6-acre site and selected a developer from among four bidding groups.
A partnership called Atlantic Grove and comprising Seabron Smith, New Urban Communities and the Delray Beach Community Development Corp., has been chosen to erect a $17.5-million complex of three buildings that will include 72,000 sf of office and retail space plus 62 townhouses.
Construction is slated to begin next year, with the townhouses and the first phase of the retail space scheduled for completion in 2002. The rest of the project is to be ready for occupancy the following year.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
