A 35,966-square-foot parcel in Miami’s Model City neighborhood could soon be home to a high-rise tower. Presently, the site is home a Burger King. Yet, if all goes according to plan, it could be reshaped into Principio.
Our sources indicate that the 215,256-square-foot venture would measure eight stories, offering 142 apartments. They would measure 585 to 1,121 square feet. Floorplans include one-bedroom and three-bedroom units.
The venture would offer 142 residences.
To qualify under the Live Local Act, 40 percent (or about 56 homes) will be designated as workforce housing. The law allowed developers to propose 24 more units than what’s currently allowed under the city’s zoning rules.
Communal amenities feature a ground-floor fitness center and co-working room, along with a third-floor courtyard and children’s playground.
The venture would replace this Burger King.
The residential aspect is not all what’s in store for Principio, however. Developers also want to move forward with 3,526 square feet of retail and 229 parking spots. Presently, an affiliate of BCS Capital owns the property, but it’s under contract to Next Development Group. Behar Font & Partners is the architect.
Miami’s Urban Development Review Board will consider the proposal next week. If approved, Principio would be slated for 5401 NW 7th Avenue, Miami, FL, 33127, in Miami-Dade County.
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This proposed development is too intense for this intersection given the established traffic pattern and closure of immediate on and off ramps to I-95.