90-Unit Project To Meet Delray Beach Housing Demand

DELRAY BEACH-To meet the demand for housing Downtown the Altman Cos. is planning to develop Astor, a more than $35-million condominium-retail project.The project will rise at 111 N.E. 2nd Ave., a block north of Atlantic Boulevard in historic Pineapple Grove. Plans call for Astor to consist of two buildings, four and five stories, with a total of 90 units and 11,000 sf of ground-floor retail space for shops and restaurants. The buildings will be connected by an enclosed, air-conditioned walkway. No commitments had been made for the retail space by press time.The 26-floor plans include one-, two- and three-bedroom flats that range from 820 sf to 2,040 sf air conditioned. The project includes 30 penthouses, most of which will have spiral staircases that lead to private, rooftop gardens and spas. Unit prices start in the mid-$200,000s, and pre-construction sales are set to start Nov. 5. Astor has a scheduled first quarter 2005 groundbreaking and is expected to be completed around the middle of 2006.The Altman Cos. sees a demand for such a project, part of Delray Beach’s ongoing urban revitalization, in the vibrant Downtown area. “It is right in the core of Downtown–the historic district,” says Joel Altman, founder and chairman of the Altman Cos., based in Boca Raton. “The Downtown Delray area is one of the most lively downtowns in all of South Florida. … Twenty-four/seven, there is something going on–jazz festivals, art festivals, a multitude of cafes, the beach, shopping, etc.”Astor will provide a type of housing different from most of what’s available in the area, he says. “Most all of the product that has been built downtown is townhouses,” he notes. The Altman project will offer units on one floor, “and also permits us to deliver smaller units–we start with one bedroom.”Amenities will include a rooftop pool and sundeck, a grill area, cabana baths, shaded gazebos and courtyards with fountains. The architectural firm that is designing the contemporary-style project is Mouriz, Salazar & Associates Inc., which has offices in Miami, and San Jose, Costa Rica. Interiors by Steven G, located in Fort Lauderdale, is Astor’s interior design firm. Premier Sales Group Inc., a Fort Lauderdale-based firm that specializes in luxury residential real estate developments, is the exclusive sales and marketing agency for Astor.The Altman Cos.’ other local projects include the Symphony in Fort Lauderdale. Altman Development Corp. develops, finances and constructs luxury multifamily communities.