Kolter starts Delray Live Local rental project with $92M financing

Kolter Multifamily kicked off construction of its Live Local Act apartment project Alton Delray after landing $91.7 million in financing, records show. The Delray Beach-based developer scored the loan from U.S. Bank for the 386-unit multifamily development planned at 2101 South Congress Avenue in Delray Beach. Forty percent of the apartments, or 155 units, will be dedicated to workforce housing under Florida’s Live Local Act. A Kolter entity paid $21.9 million in 2024 to acquire the 12.3-acre industrial-zoned site from the George T. Elmore Trust, records show. The Live Local Act allows developers to build multifamily projects on commercial sites […]

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