It’s been 30-odd years since any new development has been allowed directly on the ocean in Delray Beach, but city commissioners gave final site plan approval to an "ultra-luxury" project by co-developers National Realty Investment Advisors and US Construction last week.
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Wright by the Sea, a two-story, garden-style hotel built in 1953 on 1.8 acres at 1901 South Ocean Blvd., will be demolished to make way for the 19-unit Ocean Delray project, where new residences will be priced between $4M and $9M. The development should be built by the end of 2020.
New Jersey-based NRIA bought the hotel in October for $25M. US Construction CEO John Farina told Bisnow the land was acquired in an off-market transaction.
"The opportunity arose and we seized it," Farina said. "Oceanfront development sites like this rarely become available, and when it did, I knew we needed to move swiftly. We may never see an oceanfront parcel like this again in Delray Beach."
Farina said he has been personally involved in every aspect of finding the property, entitlements, design, planning, approvals and marketing.
"I am seeing it through from start to finish," Farina said.
The developers received little pushback from neighbors because the scale of this project was thoughtfully designed, he added.
"We are using less density than what is allowed by code, which was very appealing to the neighbors in the community," he said. "We designed a zoning-appropriate plan, plus, the project was by right and no variance was needed."
Hiring "the best local architect who had a great understanding of the city," Randall Stofft, was instrumental, Farina said.
"It was very important to our entire team that all 19 units have amazing oceanfront views," he added. "In order to achieve that, we changed the design constantly, modifying multiple aspects until we achieved the perfect plan. A lot of effort, time, energy and precision went into this design from our team."
US Construction is currently working on oceanfront mansions and other luxury townhouses in Palm Beach County. NRIA has developed over 715 units and manages a luxury project portfolio on the East Coast.
