“What is all that construction going on?”, asked my customer last weekend.
Yeah, there’s a lot of it in Delray Beach. Along with current projects already in progress, this year we’ll see more coming out of the ground, too.
Here are some highlights – first some Delray Beach commercial projects:
- Atlantic Crossing (above photo) is stunning. Almost all four buildings in phase 1 are near completion – take a stroll over there and walk through it
- Sundy Village already leveled the site and construction set to begin soon – it’s at the center of Delray Beach and a premier site.
- The Hampton Inn on NE 5th Ave / NE 2nd St is close to completion
- The corner of Atlantic Ave & NW 7th Ave is bulldozed and blocked off
- So is the corner of Lake Ida & NE 3rd Ave.
- Then there’s the boarded up buildings in Pineapple Grove just north of Hyatt Place – it’s a mystery what will happen there
- The site where Doc’s was on corner of Swinton/Alt Ave, including the old Dunkin is now shut down ready for its next rendition – this is the epicenter of Delray Beach and is a key property.
- And have you noticed how many commercial For Sale signs are along Federal Hwy?
Then there’s the Delray Beach residential projects:
- * 14 new townhomes on NW 4th Ave
- * 16 sold out condos on George Bush Ave near A1A
- * The La Hacienda community off Federal Hwy just north of George Bush is making a complete residential facelift with million dollar homes
- * I’ve counted over 42 luxury home sites (probably more) now under construction throughout the greater downtown areas
- * 6 Townhomes on NE 5th Ave between NE 2nd/3rd Sts.
- * Delray Ridge is selling their final phase of 14 luxury homes
- * I could go on…
Bottom line, Delray Beach is now entering its heyday. These are exciting times and 2023 will prove to be on of its finest. But there’s still more to come this decade if you stick around.
But of course, some folks are of fans of this development. They want Delray Beach to remain this quaint village by the sea. And it will continue to be. Sure there’s the idea of “pedestrianizing” Atlantic Avenue to bring more charm to our downtown area. Outsiders and residents like the idea, but the businesses there are not on board.
Congestion is a concern. Walkability is becoming more of a feature for folks moving or inventing in the downtown Delray Beach area. With these ideas lurking, this decade will continue to see massive changes and growth – investor take note.
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* As of today, there are ONLY 10 condos for sale in downtown Delray. Prices range from $650k – $3.2M. Inventory is thin. If you or someone you know is looking for the downtown lifestyle, here’s one of the 10 that may not last long that’s for sale.
** Or this beachfront studio with low HOA fees, no assessment fees, and ridiculous ocean views I’ve seen dolphins playing in the ocean from the balcony!
*** As 2023 gets underway, I look back at some of the folks I’ve serviced over the years and am grateful for their business. So, if you’re thinking of selling or buying this year but aren’t sure if I’m the right guy to help, this may assure you.
*** Your Weekly INVENTORY Update ***
* 43 months ago there were over 54,000 properties available in S. Florida.
* It bottomed last February at 14,485… or a 73% drop.
* Last week there were 31,202 available.
* This morning’s Inventory is ____ – inventory is dropping again
*** Inventory is up 116 % since February lows ***
