Alton Delray in Delray Beach Breaks Ground with $92Million Construction Loan

Construction is now underway on Alton Delray, a 386-unit apartment community from Kolter Multifamily, an affiliate of The Kolter Group, at 2101 S. Congress Avenue in Delray Beach, Florida, following the closing of a $92 million construction loan from Madison Realty Capital. Designed by MSA Architects, the development will rise on a 12.31-acre former industrial site and is expected to deliver its first units in late 2027.

Alton Delray will consist of multiple six-story residential buildings organized around internal circulation drives, landscaped open space, and pedestrian connections throughout the property. The approved site plan incorporates landscaped setbacks along Congress Avenue and throughout the site, creating a cohesive residential environment designed around connectivity and accessibility.

Credit: Kolter Multifamily

Of the project’s 386 apartments, 154 units are designated as workforce housing under Florida’s Live Local Act, while the remaining 232 residences will be offered at market rates.

Credit: Kolter Multifamily

The property is located just south of Linton Boulevard and west of Interstate 95, providing direct access to major transportation corridors serving Palm Beach County and South Florida. The site is also situated minutes from Atlantic Avenue in Downtown Delray Beach, placing future residents near the city’s dining, retail, entertainment, and cultural destinations.

“Alton Delray represents an exceptional opportunity to deliver high-quality housing in one of South Florida’s most supply-constrained coastal markets,” said Steve Perez, Managing Director of Kolter Multifamily.

Credit: Kolter Multifamily

“With its proximity to I-95 and direct access to Atlantic Avenue, residents will enjoy seamless connectivity to employment centers, entertainment destinations, and the unique lifestyle that defines Delray Beach.”

Credit: Kolter Multifamily

In addition to its proximity to Downtown Delray Beach, the community will provide access to several regional employment centers, including Boca Raton, West Palm Beach, and the Congress Avenue corridor. Residents will also be located near retail destinations, beaches, and recreational amenities throughout Palm Beach County.

Palm Beach County records show an affiliate of Kolter acquired the 12.31-acre property for approximately $21.88 million in July 2024. The project team also includes Kimley-Horn as civil engineer, and Urban Design Studio as landscape architect.

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