Delray settles suit over Atlantic Crossing

The city and developers of the proposed Atlantic Crossing complex in the heart of downtown settled a five-year legal battle Wednesday evening, allowing the development of the project to move forward.

A settlement agreement that includes traffic- c alming measures for downtown neighborhoods near the planned complex, at the northeast corner of Atlantic Avenue and Federal Highway, and a two-way road from Atlantic Crossing’s core to Federal Highway was unanimously approved by the city commission Tuesday.

The city has been embroiled in the lawsuit for two years. Ohiobased Edwards Cos. has accused the city of deliberately stalling development, costing the company $40 million.

Despite the lawsuit settlement, the previously approved project still has to be approved by three boards for the OK to develop the 9-acre complex: the Site Plan Review and Appearance Board, the Planning and Zoning Board and the City Commission. It will take at least two to three months for the project to be approved, city staff have said.

“While reaching settlement has been challenging, we’re eager to work with the City to get Atlantic Crossing underway, and finally bring the east end of Atlantic Avenue to life,” Edwards Cos. Chief Operations Officer Dean Kissos said in an email. “We’re excited to get the ball rolling and to work with the City to obtain final approvals as soon as possible. We look forward to having the settlement become final, enabling us to dismiss the state and federal lawsuits, assuming there are no third-part y challenges to the agreement.”

Edwards Cos. has the legal right to pull out of the settlement agreement at any point if a third-party sues the city about the project.

The project was first proposed in 2011, and developers have gone back-and-forth with the city since.

The projec t will include 82 luxury condos, 261 apartments, 83,000 square feet of office space and 76,000 square feet of shops and restaurants in six three or four-story buildings.