New Push to Redevelop Prime Land on West Atlantic Avenue
Summary
An updated study of commercial clusters along West Atlantic Avenue has identified demand for uses such as a moderately priced hotel, a jazz or comedy club, a well-known restaurant, a bank, and a pharmacy, Butler said.In recent years, the CRA had issued other RFPs on the land and attracted builders, but declining real estate values and hardships in getting construction loans made it challenging for any of the proposals to move forward.Builders have proposed plans for shops, offices and housing units, but for various reasons, those projects never materialized.Now, a major landowner, the Delray Beach Community Redevelopment Agency (CRA), believes the timing is right for a substantial redevelopment project that will create jobs and businesses along the corridor between Interstate 95 and Swinton Avenue.The CRA is set to issue a request for proposals (RFP) for developing nearly eight acres of assembled properties on the south side of West Atlantic Avenue between SW 10th and Sixth avenues.“They are primed for redevelopment as we come out of this recession.”The CRA is focusing on these sites as the agency and the City have renewed their emphasis on redevelopment in the West Atlantic Avenue community, Butler said.A new economic development director was recently hired to attract new companies to the area.Also, new economic incentives, including the Job Creation Bonus and the Relocation Development Incentive programs, were initiated to offer cash to companies that bring new jobs to the CRA district.In recent years, the CRA had issued other RFPs on the land and attracted builders, but declining real estate values and hardships in getting construction loans made it challenging for any of the proposals to move forward.Today, as the economy heads toward recovery and with the economic development incentives in place, officials are optimistic that this is the time for the right development team to come along.“Everything is in place to build an attractive destination,” Butler said.Information about the RFP will be posted on the CRA website: www.delraycra.org.### Contact Information Delray Beach Community Redevelopment Agency Elizabeth Butler 561-276-8640 www.delraycra.org www.facebook.com/DelrayCRA Click here to view the list of recent Press Releases from Delray Beach Community Redevelopment Agency Promote Your Business Press Release Pricing Email this page to a friend