By Mike S Payton, Contributing Reporter
DELRAY BEACH, FLORIDA – Construction and development have moved forward amidst the coronavirus pandemic, and a major one the broke ground recently in Delray Beach is the ‘Atlantic Crossing’, located on the northeast corner of Federal Highway and Atlantic Avenue spanning two blocks east.
Representing the largest private investment in the City’s history, the $300 million mixed-use development was initially approved in 2013, but spent years in litigation over an east-west access road into the project from Federal Highway. A settlement was finally reached in 2017 and they broke ground in 2018.
Mayor Shelly Petrolia and Vice Mayor Adam Frankel were at the groundbreaking and addressed the crowd, “The entire city has been waiting for this to happen,” Mayor Petrolia said. Petrolia was very vocal against the development for years according to Delray Newspaper.
The project will include 82 condos, 261 apartments, 83,000 square feet of office space and 76,000 square feet of shops and restaurants. The developer Edwards Companies of Columbus, Ohio, aims to bring high quality retail and restaurant space, as well as first Class A office quarters and new luxury residential choices.
In line with Downtown Delray’s eclectic feel and walkability, each of Atlantic Crossing’s six buildings has a different architectural design. All parking is hidden, below ground or in a garage wrapped by residences, and convenient valet service is provided.
At the groundbreaking, Jeff Edwards, President of the Edwards Companies, invited city officials and guests to toast Downtown Delray’s future. “From the outset, we viewed Atlantic Crossing as a rare opportunity — and our confidence has only grown over the six years the project has been in design and review.”
The developers say a number of leases already are in process for the 73,000-square-foot retail component and 83,000 square feet of office space, with the initial space coming online in fourth quarter 2019. The plan’s luxury apartments will open first quarter 2020, followed by condominiums overlooking the City’s Veterans Park along the Intracoastal Waterway.
“Timing couldn’t be better. Atlantic Crossing is coming on line at an exciting turning point,” according to Drew M. Barkett of Strategic Retail Advisors, exclusive retail leasing agent. “Demand has shifted away from the controlled environment of enclosed malls and even lifestyle centers.”
Overall, the Atlantic Crossing plan, including the residential components and generous public spaces, has a five-year build out and is projected to generate $2.6 million in annual tax revenues and 600 permanent jobs.