Fla. Housing Finance Corp. Committee to Recommend 11 CWHIP Winners on Fri.

by: FWHN staff Mon Jan 22, 2007 at 17:13:09 PM EST

TALLAHASSEE, Fla. --- Florida Housing Finance Corp.

10. Midtown Delray/City of Delray Beach/Palm Beach County

Midtown Delray Partnership, which includes Ascot Development, plans to spend $12.8 million to develop 32 homes for sale at Midtown Delray (Delray Bch., Palm Beach Co.). This is one of two Ascot Development CWHIP proposals.

Midtown Delray Partnership is one of two Ascot Development projects that got CWHIP'ed.

Ascot Development, based in Delray Beach, claims to be one of Florida's fastest growing land development companies, with a singular goal:

…Ascot is focused on all aspects of the land development process.  And, in our short history we have positioned ourselves as a leader in our profession by always striving to maximize land value.

Give Ascot credit for laying out its goals for Midtown Delray on its web site:

The Midtown Delray project is a 9.56 acre residential and commercial development project located at Linton Blvd in Delray Beach, Palm Beach County, Florida.  Location, location, location - Midtown Delray is only 4 miles from Downtown Delray Beach, 5 miles from the Atlantic Ocean and offers easy highway accessibility, just 1.5 miles west of I-95.  The launch date for this project was August 2005.

The site plan calls for 80 three-story townhouses on 7.09 acres, and a 29,000 square foot three-story medical office building on the remaining 2.47 acres.  The close proximity (less than 1 mile) from Delray Medical Center, a community-based 373-bed acute care hospital, makes Midtown Delray the ideal location for our proposed medical facility.

The residential element of the project calls for a gated community which incorporates a beautiful lake, along with a pool and clubhouse facility.  The commercial portion of the project is very well positioned for a medical office complex.  It is situated in a highly populated residential neighborhood, with easy access to both local highways.  In the immediate vicinity is the local fire station, and the development is within minutes of shopping malls, movie theatres, restaurants, and more.

Ascot's Midtown Delray CWHIP proposal budgets $12.8 million total project costs.