Sky 79, a residential development in Miami-Dade County, Florida, may start construction in November 2022. The multi-million-dollar development could measure six stories above grade and require more than 40,000 square feet of new construction––with some of that square footage set aside for small retail ventures.
Switzerland-based real estate investment firm Empira Group acquired a rare 0.53-acre development site west of Brickell that consists of two vacant aged apartment buildings at 3025 and 3051 Southwest 3rd Avenue. The developer has plans to build an 8-story mid-rise multifamily project in “The Roads” neighborhood to satisfy the area’s rising demand for housing fueled by businesses relocating to Miami’s urban core. Designed by Revuelta Architecture International, CoralGrove is planned to yield 85 residential units in a mix of one-, two- and three-bedroom floor plans and 900 square feet of ground floor retail. Empira closed on the acquisition of the sites on August 29th, aiming to break ground in the second half of 2023 and deliver the project in 2025.
Natiivo Miami started construction in February 2021. The $213 million venture is expected to reach completion in the third quarter of 2023. Upon finishing, the 51-story tower will offer 448 condos, ranging from studios to three-bedroom homes.
Construction continues to progress on Wynwood Haus, a 20-story mixed-use development located at 1765 North Miami Avenue that just recently topped out in Miami’s Wynwood Arts District. The 222-foot-tall structure is designed by a Corwil Architects with landscaping from Enzo Enea, and developed by a joint venture partnership between Lineaire Group, Black Salmon Capital and Bridge Investment Group. 224 rental units will come in studios, one and two bedrooms floor plans ranging from 394 to 945 square feet, accompanied by amenities, a 222-vehicle parking garage and 5,500 square feet of ground floor commercial space.
One of the last remaining vacant development sites in the 27-acre Miami Worldcenter master-planned district, a 20,600-square-foot assemblage at the southeast corner of North Miami Avenue and Northeast 10th Street, traded hands for $30 million. The previous owner, IRR Parkwest Investments LLC – headed by Marc Roberts, sold the 0.47-acre site to 925 N Miami LLC, an affiliate of San Antonio, TX-based Lynd Living (Lynd). A $22.75 million land acquisition loan was arranged by Concord Summit Capital, LLC for the property, alternatively referred as Block 23, which occupies the northeast frontage of North Miami Avenue between Northeast 9th and 10th Streets
