Parks at Delray will ultimately deliver a 747-unit multifamily development offering townhouses along with three- and five-story garden-style buildings, in addition to an estimated 40,000 square feet of grocery-anchored retail space and an existing, 68,000-square-foot office building.
Pre-leasing at the project is slated to launch in spring 2025, with construction expected to be completed shortly thereafter.
The new $21.4 million affordable townhome community are set aside for income-qualifying residents who earn at or below 30, 60, and 70 percent of the area median income (AMI).
Situated at 14 SE 4th Street, WREI and Key International plan to develop a 12-story luxury residential development that will feature a well-appointed lobby, large units with expansive views and an extensive amenity offering on the fourth and twelfth floors.
Colliers Executive Vice President Michael Falk, Senior Vice President Russell Bornstein, and Associate Jonathan Temple represented the seller in the transactions.
The team has closed over $25 billion in multifamily transactions.
EDEN Living, in a joint venture with affiliates of Westport Capital Partners, just acquired a nearly 20-acre site with plans to develop 214 townhome-style units.
For over four decades, he has actively excelled in the commercial real estate industry, gaining knowledge and expertise across retail, office, medical leasing, land assemblage, acquisitions/dispositions, and development.
The plan is to take a 5,000-acre property that GL Homes owns adjacent to the new city of Westlake and shuffle 1,277 units (homes approved for construction but that haven’t been built yet) and move the units elsewhere.
The developer will receive $2.5 million in grant proceeds over a three-year period as well as fee waivers and reductions offered by the department.
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