Kolter Multifamily broke ground on Alton Delray with a $92 million construction loan and 154 workforce housing units under the Live Local Act. First residents expected late 2027.
- Kolter Multifamily is building 386 apartments across five buildings on Congress Avenue.
- The project includes 154 workforce housing units (40%) under the Live Local Act.
- Kolter is headquartered in Delray Beach, making this a hometown investment.
Kolter Multifamily just broke ground on Alton Delray, a 386-unit apartment community on a 12.31-acre former industrial site at 2101 S. Congress Avenue in Delray Beach. According to Florida YIMBY, the project is backed by a $92 million construction loan from Madison Realty Capital. Of those 386 apartments, 154 are workforce housing under the Live Local Act. That is 40% of the project. First units are expected late 2027.
What is Kolter building on Congress Avenue?
Alton Delray includes five residential buildings (three 6-story and two 5-story) totaling approximately 542,078 square feet. You are looking at 386 apartments total: 154 workforce housing units and 232 market-rate units. The community also includes a two-story, 8,348-square-foot clubhouse, a swimming pool, a dog park, outdoor recreation areas, and 740 parking spaces (220 in a parking deck, the rest on surface lots).
There is also 1,748 square feet of ground-floor commercial space. The site is organized around internal circulation drives, landscaped open space, and pedestrian connections with landscaped setbacks along Congress Avenue. MSA Architects designed the project, Kimley-Horn handled civil engineering, and Urban Design Studio did the landscape work.
Rental pricing has not been disclosed yet. For context, average Delray Beach rent sits at approximately $2,423 per month, and downtown Delray Beach averages around $2,814 per month for a one-bedroom. This site is not downtown, but it is close enough to benefit from the location.
Why is this site significant?
This is a former industrial site becoming a residential community. That is part of what is happening along corridors like Congress Avenue. Older commercial and industrial land is getting reworked into apartments because the housing demand is there. Kolter acquired this 12.31-acre parcel for approximately $21.88 million in July 2024, and now they are turning it into rental housing.
As Larry Mastropieri explained on the Discover South Florida Podcast: "This is a good location for commuting, work, and being close to downtown Delray. You are not directly on Atlantic Avenue, but you are close enough to get into downtown, go out at night, and still have a practical location near I-95 and Congress. That makes it a strong rental location."
The Congress Avenue and I-95 corridor is becoming the primary new-construction area for apartments in Delray Beach. It is west of the premium east-side neighborhoods, but it offers access, scale, and the kind of land that can actually accommodate 386 units. You are not finding 12-acre sites near the beach.
Looking at Delray Beach rentals or investment properties? Talk to a Delray Beach real estate agent who understands how new inventory affects the market. Reach out to The Mastropieri Group or call (561) 287-7000.
Who is Kolter Multifamily?
Here is what makes this project interesting: Kolter is building in their own backyard. The Kolter Group is headquartered at 105 NE 1st Street in Delray Beach. This is not an out-of-state developer entering a new market. This is the largest development firm in the city investing in its own city's rental supply. When the hometown developer puts $92 million into a project, they are betting on something they know well.
Kolter Multifamily has sponsored nearly $1.6 billion in completed and in-development rental projects across the Southeast. The parent company, The Kolter Group, operates five business units (Urban, Homes, Multifamily, Hospitality, Land) and has sponsored more than $30 billion in total projects across Florida, Georgia, South Carolina, North Carolina, and Tennessee.
"Alton" is Kolter Multifamily's branded apartment line. They have five active Alton projects across Florida right now:
Alton Delray: 386 units in Delray Beach (this project broke ground in June 2026)
Alton LakeHouse: 350 units in Lakewood Ranch (nearing completion)
Alton Osprey: 252 units in Osprey (nearing completion, leasing opened)
Alton Palmetto: 276 units in Palmetto (broke ground 2025, first units fall 2026)
Alton Sarasota: 256 units in Sarasota (broke ground October 2025, first residents winter 2026)
Alton Delray is the only project in the pipeline using the Live Local Act (40% workforce). The others are all market-rate. That tells you Kolter saw the Live Local incentives as necessary to make the Delray Beach site work at this scale.
What else is coming to Delray Beach?
Alton Delray is not the only project adding inventory to Delray Beach. The development pipeline is active across the city.
Parks at Delray (Skye Phase 2): This 327-unit project at 2350 S. Congress Avenue by 13th Floor, Key International, CDS, and Wexford has topped out and is expected to deliver in 2027. It includes 10% workforce housing. Same corridor as Alton Delray, similar timeline.
The Maxwell: This 23-unit boutique condo project in Pineapple Grove is a different product type (for-sale condos rather than rentals), but it shows the overall development activity across Delray Beach. Different scale, different location, but part of the same story of new inventory coming to the city.
When you see this much development activity across a city, you know the market is telling developers something. South Florida's apartment market keeps absorbing new supply, and corridors like Congress Avenue are where the land and zoning can actually accommodate larger projects.
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Frequently Asked Questions
How many apartments are being built at Alton Delray in Delray Beach?
Kolter Multifamily is building 386 apartments across five buildings (three 6-story and two 5-story). Of those, 154 are workforce housing units under the Live Local Act (40% of total), and 232 are market-rate. First units are expected late 2027.
Where is Alton Delray located in Delray Beach?
The project is at 2101 S. Congress Avenue in Delray Beach, on a 12.31-acre former industrial site. It is near I-95 and Congress Avenue, west of downtown but close enough for commuting and nightlife access.
What ongoing development projects are in Delray Beach?
Several projects are adding inventory to Delray Beach right now. Alton Delray (386 units) just broke ground on Congress Avenue. Parks at Delray (327 units) has topped out on the same corridor, with delivery expected in 2027. The Maxwell (23 boutique condos) is coming to Pineapple Grove. The Congress Avenue corridor, in particular, is becoming the primary area for new apartment construction in the city.
What amenities will Alton Delray have?
The community includes a two-story, 8,348-square-foot clubhouse, a swimming pool, a dog park, outdoor recreation areas, and 740 parking spaces. There is also 1,748 square feet of ground-floor commercial space.
What is the Live Local Act and why are developers using it?
The Live Local Act is Florida legislation that offers developers incentives (such as density bonuses and tax benefits) in exchange for including workforce housing units in their projects. Developers are using it because it helps make larger projects financially viable in high-cost markets like Delray Beach. Alton Delray is using Live Local for 40% of its units, which is the highest workforce percentage in Kolter's current Alton pipeline.
Local help for renters and investors in Delray Beach
If you are looking at Delray Beach real estate, whether as a renter, buyer, or investor, understanding how new apartment inventory affects the market matters. Reach out to The Mastropieri Group, Realtors®.
For hands-on support across Palm Beach County, call (561) 287-7000.
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