New York-based developer Naftali Group (Naftali) has been granted several building permits for a twin-towered residential project at Miami Worldcenter with up to 1.3 million square feet of potential space. The Federal Aviation Administration (FAA) has determined the proposed structures would have no substantial adverse effect on the safe and efficient utilization of the navigable airspace by aircraft or on the operation of air navigation facilities, allowing them to rise 684 feet, or 691 feet above sea level. Naftali formed a joint venture partnership with Cara Real Estate Management and purchased the 44,500-square-foot site at 1016 Northeast 2nd Avenue in Downtown Miami’s Park West neighborhood last year for nearly $41 million. Zoning allows for buildings with a maximum floor count of 60 stories.
The FAA completed the review process for the permit applications on January 13, lasting approximately 5 months for approval. The site encompasses the eastern side of Miami Worldcenter Block A, bound by Northeast 2nd Avenue on the east, Northeast 11th Street on the north, Northeast 10th Street on the south, and Abbhi Capital’s 2.2-acre development site on the west – where two more towers are planned. There are no project renderings yet, but we can confirm that the buildings will not reach supertall status and will instead be just under 700 feet high rises.
Before the site’s sale, Chicago-based real estate developer Akara Partners had planned to build mixed-use towers designed by Perkins + Will and Stantec named Kenect Miami, which would have risen 39 and 79 stories had they been built.