Developers Increase Size of 5050 Residences at 5050 N.W. 22nd Avenue, Miami, FL

The 5050 Residences, a proposed housing development in Miami-Dade County, is now larger. Initial plans in 2020 presented a four-story building, offering 40 one-bedroom apartments, measuring about 800 square feet each.

Now, revised plans have doubled the available apartments, now offering 82 residences in an eight-story building. Per the South Florida Business Journal, they will range from studio to two-bedroom layout plans, measuring 430 square feet to 1,067 square feet each. The reason for the expansion comes with the higher demand for housing in the region.

Revised plans call for 82 apartments. Images via SD Collaborative

The residential capacity is the only aspect of the project that’s been expanded. The original proposal requested 1,983 square feet of ground-floor retail and 23 parking spots. Recent plans have decreased that square footage by 41.94 percent, with the current proposal requesting 1,151 square feet of commercial space.

The number of parking spots also decreased by five––meaning there’s only 17 available. Tenants at the 5050 Residences won’t have a guaranteed parking space. Construction could start on the community in 2025. RE Opportunity Fund LLC is the developer. It purchased the .38-acre build site for $350,000 in 2018. It’s currently vacant.

Construction could start in 2025.

The 5050 Residences is slated for 5050 N.W. 22nd Avenue, Miami, FL, 33142, in Miami-Dade County.

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