Magellan Housing, Royal American Development, and Miami Heat legend Udonis Haslem have joined forces to purchase a 6.3-acre build site in Miami-Dade County. The Real Deal reports that the trio purchased the parcel from the City of Miami for $1.5 million.
It will be home to Catherine Flon Estates, a venture that’s been in the works since 2019. Upon completion, the 200-unit project will offer 174 apartments and 26 townhomes. Sources report that the residential complex could measure eight stories, offering one-bedroom to three-bedroom units.
The apartments will be available to those making 60 percent of the area median income (AMI), which hovers around $74,700 a year. The townhomes will be for those making 120 of the AMI.
Studio Mc + G is the architect. A 2019 report from the South Florida Business Journal notes that originally, Catherine Flon Estates (then named “Atala”) was to offer 134 residential units and 10,000 square feet of commercial space. Plans have changed.
Catherine Flon Estates isn’t the first venture between Magellan Housing and mogul Udonis Haslem; the pair are working on Wynwood Works, a 12-story mixed-use building with 120 apartments and 5,698 square feet of commercial space.
Catherine Flon Estates will be located at the northwest corner of Northeast Sixth Avenue and Northeast 135th Street in North Miami.