Nearly four years after the closure of Johnson & Wales University’s campus in North Miami, a joint venture firm hopes to move forward with a residential development. Lore Development Group intends to proceed with an eight-story apartment building currently dubbed “Biscayne North Miami.” The 639,000-square-foot development would feature 402 homes.
The Real Deal reports that floorplans would include studio to three-bedroom apartments. Our sources did not confirm the exact communal amenities, but they will likely include a fitness center, swimming pool, and co-working space – like other similar multi-family developments in the region.
The development would offer 350,000 square feet of rentable space. Image from Lore Development Group
Construction is anticipated to start on Biscayne North Miami in the third quarter of 2026. The venture’s expected to welcome its first residents nearly 18 months later in 2028. Corwil Architects designed the community.
As noted, Lore Development Group is a joint venture between two parties: Miami-based Leste Group and Brazil-based Opportunity Fundo de Investimento Imobiliário. Lore purchased the project’s parcels for $26 million from its former owner, Golub & Co., in June.
The property last traded hands for $10 million in 2021, meaning that this sale reflected a 160 percent value increase. Previously, the property was slated for 450 apartments, but developers switched gears after studying market trends and construction costs.
Biscayne North Miami is planned for a 3.2-acre site between Northeast 126th and 127th streets in North Miami. It currently operates as a parking lot.
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