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Mixed-Use Project Planned In Downtown Delray Beach After Big Sale

September 18th, 2014

Hudson Holdings has proposed a mixed-use project in downtown Delray Beach after completing $22 million in property purchases.

Jim Knight, of Delray Beach-based Knight Group, represented the buyer of the Sundy House and several surrounding properties, which were managed by Kimberly Goodyear, for about $17 million. The other deals were made with another three sellers. All together, 7 acres of property, at Atlantic Avenue and Swinton Avenue, were acquired by affiliates of Hudson Holdings.

Hudson Holdings plans to build a three-story complex, dubbed Sundy Lane, with up to 100,000 square feet of retail, 120 hotel rooms and 50,000 square feet of offices. The company vowed to maintain the historical Sundy House, a home that is on the National Register of Historic Places. The developer plans to use Sundy House for weddings and events, as well as a restaurant.

“The sale is significant, raising the value for commercial real estate in downtown Delray Beach,” Knight said in a news release. “Equally as important, Hudson Holdings plans to preserve the charm of Sundy House, while expanding the economic impact of the property.”

Knight said the development would extend the restaurant and retail district of Delray Beach further west.

 

Source: SFBJ

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