Miami Development Fund LLC has revised its plans for a multi-family project in Miami-Dade County. Initial plans in 2022 called for a 12-story, mixed-use tower with 320 residences, along with office and retail space. Now, with the passage of the Live Local Act, the developer hopes to benefit from incentives that would allow for increased housing density and more office space.
Floridian Development notes that updated plans for the project, called Park Residences, will feature 410 apartments, with floorplans spanning studio to three-bedroom units, and measuring 520 to 1,200 square feet.
The venture would comprise multiple buildings. Image by Anillo Toledo Lopez Architecture
Of those 420 homes, 164 will be designated for tenants earning up to 140 percent of the area median income (AMI). Miami-Dade County records report that for a family of four, this would be capped at $99,400.
Communal amenities would include a seventh-story swimming deck. Aside from the residential feature, Park Residences would have 90,000 square feet of medical offices in seven stories and a seven-story, 950-spot parking podium. There would also be 7,000 square feet of retail.
Miami Development Fund LLC acquired the long-vacant 4.11-acre site for $10.4 million in 2018. Park Residences has been proposed for 7350 Coral Way, Miami, FL, 33155, in Miami-Dade County.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "Developer Revises Plans for Mixed-Use Project at 7350 Coral Way, Miami, FL"