search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraud
South Florida

Settlement over Atlantic Crossing lawsuit heads to Delray commission

Rendering of Atlantic Crossing
Rendering of Atlantic Crossing

The Delray Beach City Commission will decide on Tuesday whether to settle a lawsuit filed by the developers of Atlantic Crossing, a $200 million, 9-acre mixed-use project in downtown Delray Beach. 

The litigation has tied up the project for the past three years, the Palm Beach Post reported. The Edward Cos. bought out its former partner CDS International Holdings in the project last year in a land deal valued at $38.5 million.

Sign Up for the undefined Newsletter

Together, they faced delays since the developers received their approvals in 2014, eventually spurring a lawsuit from Edwards and CDS alleging Delray commissioners were obstructing the project, which allegedly cost them $40 million. In July 2016, a judge dismissed the suit but left the possibility to appeal, according to the Post. Also in dispute are a traffic study and the ownership of two alleys.

A settlement would allow Edwards to finally move forward with the development, which calls for 82 luxury condos, 261 apartments, 83,000 square feet of office space, and 76,000 square feet of retail and restaurants. [Palm Beach Post] – Katherine Kallergis

Tags
Atlantic CrossingDelray Beach