South Florida developers 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital, have broken ground on Skye, a 327-unit multifamily community within the 50-acre Parks at Delray development in Delray Beach. The project is being financed with a 79.2 million dollar construction loan from CIBC Bank USA and follows the completion and lease-up of Savio, the joint venture’s first residential phase. Construction is scheduled to be completed in 2027.
Designed by MSA Architects, Skye will offer studios and one through three-bedroom apartments ranging from approximately 560 to 1,410 square feet, along with three-bedroom townhomes between 1,670 and 1,770 square feet.
Credit: 13th Floor Investments.
“Breaking ground on Skye marks an important milestone in bringing the full vision for Parks at Delray to life. With Savio fully built and Skye now underway, we’re delivering a thoughtfully planned, highly amenitized residential community that reflects the growing demand for quality rental housing in Delray Beach and along the I-95 corridor,” said Daryl Shevin, Chief Financial Officer of 13th Floor Investments. “Our partnership with CIBC Bank USA and our co-developers underscores the market’s confidence in this project and in Delray Beach’s long-term growth story.”
Planned amenities include a beach-entry pool with cabanas and a pool bar, parks with jogging trails and outdoor BBQ areas, an outdoor tot lot and children’s playroom, a fitness center with after-hours access, a yoga room, a dog park, coworking spaces with a business center, a lounge, a social club room with kitchen and bar, and the oak hammock preserve. Additional features include package rooms, select garages, covered parking, and complimentary Wi-Fi in common areas.
The Parks at Delray development sits minutes from Downtown Delray Beach and Atlantic Avenue, with proximity to I-95, Boca Raton, Lynn University, and major employment centers.
Skye joins 13th Floor Investments’ growing multifamily portfolio across South Florida, which includes Cadence, the third residential tower at Link at Douglas in Miami with 432 apartments, Parks at Hallandale with 398 units, and Parks at Davie, a 383-unit community near Broward College.
Since its founding in 2008, 13th Floor Investments has completed more than 4,700 residential units across South Florida and has over 4,000 units in its development pipeline.
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Have to love the name “13th Floor Investments”!