Kolter has secured a $92 million construction loan for a 386-unit apartment community along South Congress Avenue in Delray Beach, per the developer's Instagram. The financing positions the project toward a stated late-2027 delivery for its first units.
The complex will include a pool, fitness center, coworking spaces, and resident lounges, according to the announcement. At 386 units, the project represents a sizable multifamily commitment to South Congress Avenue, which Kolter's post characterizes as one of Delray Beach's fastest-growing corridors.
The announcement does not name a lender, a design or construction team, or a specific street address. No permit filings or entitlement records were cited alongside the Instagram post, leaving the construction-start timeline unconfirmed beyond the loan closing.
Construction loan closings typically signal a project has cleared its capital stack and is approaching a groundbreaking. A permit pull or start-of-construction notice from Kolter would be the next milestone to watch as the late-2027 delivery target approaches.
