More and more wealthy people are moving to Miami Beach, and they want more office space. Enter a new proposal from WPH Properties LLC. The California-based company hopes to get approval for a seven-story building that would offer 33,640 square feet of office space, along with 4,065 square feet of ground floor commercial space.
The plans for the mixed-use venture are flexible, as sources indicate that 25,000 square feet could be replaced with workforce housing, depending on the developer’s plans. Conceptual renderings from Beilinson Gomez Architects show an avant-garde mid-rise building with a wavy exterior. If approved, the unnamed venture would replace a 14,694-square-foot parking lot.
The developer also hopes to lease the lot from the city for 99 years at $470,000 per year. There would also be an annual 2 percent increase and a $2 million payment for the first three years. The property is currently valued at $8.8 million. Miami’s City Commission will hear the project’s proposal later today.
The venture is just one of many complexes that aims to transform parking lots into commercial and residential ventures. Florida YIMBY reported on a similar venture, Water’s Edge in Plantation, FL, a mixed-use project that aims to replace a surface parking lot.
The seven-story project has been proposed for 1000 Washington Avenue, Miami Beach, FL, 33139, in Miami-Dade County.