Fourth & Fifth Avenues Site Redevelopment

About This Project

Redevelopment of Downtown Core Business District – Fourth & Fifth Avenues Site (formerly known as the Old Library Site)

 

Location: South of E. Atlantic Avenue, between SE 4th and 5th Avenues
Developer: Delray Beach Holdings, Inc. (iPic Entertainment)
Contact: Jeff Costello, Executive Director, 561-276-8640

 

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.

 

The associated development applications received approval from the City Commission on August 17, 2015 and the Site Plan Review and Appearance Board on January 20, 2016. Completion of the project is anticipated in late 2017.

Category
Projects