Alexan Delray could soon call Palm Beach County, Florida, home. The multifamily community would offer 267 units on a mostly vacant 6.74-acre plot. The homes would be spread across two five-story buildings.
The parcel is presently home to a warehouse that hasn’t seen use since 2012. If approved, the complex would offer one-bedroom to three-bedroom units. The project met some opposition in November 2022, with planning and zoning board officials arguing that 161 one-bedroom units violate current city guidelines.
The complex would sit on a parcel measuring more than six acres.
Developers have counterargued, noting that in a post-Covid housing market, one-bedroom apartments are in demand. The Sun-Sentinel reports that rent at Alexan Delray for a one-bedroom apartment would range between $1,380 to $2,070 a month.
Rentcafé reports that at the time of publication, rent for a one-bedroom apartment in Delray hovered around $2,800. The South Florida Business Journal notes that communal amenities could comprise a swimming pool, clubhouse, and more than 400 parking spots. That’s about 1.5 spaces per unit.
The venture could be in Palm Beach County.
Sources report that construction on the $100 million complex probably won’t start before the first quarter of 2023. Alexan Delray is just one of many residential projects emerging in Palm Beach County right now; there are more than 1,000 units in the pipeline.
Alexan Delray’s proposed address is 1155 South Congress Avenue, Delray Beach, Florida. 33445, in Palm Beach County.
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