Atlantic Crossing in Delray Beach to finally move forward

Miami /
Apr.April 13, 2017 05:30 PM

The city of Delray Beach and the developer of the Atlantic Crossing project have settled a $40 million lawsuit, allowing it to finally move forward.

The Delray Beach City Commission unanimously approved the settlement agreement on Tuesday, which includes plans to reduce traffic near the proposed complex, the Palm Beach Post reported.

Ohio-based Edwards Cos. accused the city of intentionally stalling the mixed-use project, which would include 82 luxury condos, 261 apartments, 83,000 square feet of office space, and 76,000 square feet of retail and restaurants. Atlantic Crossing would be built on a 9-acre site across Northeast First Street to Atlantic Avenue and from Northeast Sixth Avenue to Veterans Park.

The $200 million development has been in limbo since it was first proposed in 2011. Although most members of the current commission believed that Atlantic Crossing is too big for those two blocks west of Veterans Park, a previous commission approved the project in December 2012. About a year later, the commission gave initial approval for the plan, but had withheld final approval that would be needed to break ground.

Before it moves forward, the project has be approved by three boards, a process expected to take at least two months, according to the Palm Beach Post. If a third-party sues the city over the development, Edwards has the right to pull out of the settlement agreement. [Palm Beach Post] – Katherine Kallergis 


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
Arbor Management buys multifamily dev site near Aventura for $10M
Arbor Management buys multifamily dev site near Aventura for $10M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...