Empira Group Acquires Rare Development Site Near Brickell With Plans For An 85-Unit Multifamily Project
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.