Delray Beach, Fla. CDS International Holdings announced Wednesday that Atlantic Plaza II, a suburban downtown mixed-use destination, is beginning construction. The $325-million project will transform two existing city blocks on “Main and Main” in Delray Beach into a pedestrian-oriented development that includes retail, office and upscale residences.
According to Bill Milmoe, president of CDS, Atlantic Plaza II is taking advantage of the urban infill location to build a 132,000-sq.-ft. outdoor lifestyle center, 106,000 sq. ft. of downtown office space, 197 apartments, townhomes and lofts, and an underground parking for 1,000-plus cars.
“Delray Beach’s downtown is one of the most robust, attractive and successful in the dynamic South Florida market,” said Milmoe. “It has become a well-known regional destination for both residents and tourists from throughout the entire South Florida area.”
Milmoe said the company assembled the property over the past two years and will be working with joint-venture partners to develop the site. Infrastructure work is projected to take approximately 18 months, with development to occur in three phases over the next five to seven years.