Location: South of E. Atlantic Avenue, between SE 4th and 5th Avenues
Developer: Delray Beach Holdings, Inc. (iPic Entertainment)
Project Description: After the Delray Beach Public Library relocated to West Atlantic Avenue, its former site on SE 4th Avenue became available for redevelopment. The CRA issued an RFP (Request for Proposals) to solicit development proposals in 2006, but the selected project eventually became a casualty of the nationwide recession and real estate market collapse.
In February 2013, the CRA issued another RFP to redevelop the site. In August, 2013, the CRA Board awarded the RFP to Delray Beach Holdings, LLC (a limited liability entity created for development purposes by iPic Holdings LLC of Boca Raton). The proposal includes an iPic theater and iPic's corporate headquarters.
The proposal is to construct a 5-story mixed use facility consisting of the following:
41,418 square-foot iPic Theater (529 seats)
42,869 square feet of Class A office space
7,290 square feet of retail space
Multi-level parking garage with 279 spaces (providing more than the minimum 50 public spaces)
Inclusion of an open space seating area for the public and a historic monument or art component that commemorates the site's history and significance to the City of Delray Beach.
In April 2014, the associated development applications were submitted to the City and are currently under review. Completion of the project is anticipated in 2016.
Brian Pearl, P.A., Realtor®
The Pearl Antonacci Group | Lang Realty