Florida Construction News staff writer
South Florida-based developers 13th Floor Investments and Key International have broken ground on a 50-acre mixed-use development planned for Delray Beach. Davie-based ANF Group has been tapped as the residential project’s general contractor.
The residential development will include 747 market-rate apartments and townhomes. Phase one, now under construction has 420 units and about 10 per cent be allocated for workforce housing. Phase one will be completed in 2024, followed by phase two in 2025.
“The Delray Beach market is experiencing strong demand for new residential development,” said Arnaud Karsenti, managing partner of 13th Floor Investments. “We’re seeing a surge of employment growth in the area, especially as out-of-state residents from the northeast continue to migrate to South Florida.”
CDS International Holdings is developing the commercial areas, which are still in the planning phase and will include about 40,000 square feet of grocery-anchored retail space. The project also incorporates an existing building on the site with 68,000 square feet of office space.
Delray’s 25-acre residential component will include a total of 747 market-rate units spread across a mix of townhomes, three-story and five-story buildings. Approximately 10% of the residential units will be allocated for workforce housing. Phase one’s units will be completed in 2024, with the remainder in 2025.
CDS International Holdings is developing the commercial phases of the Parks at Delray mixed-use development. Plans for the project, which are currently in development, are estimated to include approximately 40,000 square feet of grocery-anchored retail space. The project also incorporates an existing building on the site with 68,000 square feet of office space.
Designed by MSA Architects, Parks at Delray’s residential component will include apartments and townhomes along with a clubhouse, gym, pool and social room, and various parks and green spaces.