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Residents will have access to control the features of their units, such as the lights and AC, manage package delivery, schedule gym classes, and socially interact with the community.
A townhouse or condominium development could be suitable for the assemblage, which is called The River Line and is in the largely residential Spring Garden Historic District.
The county tried to do so in 2018, but after three years, Miami-Dade rejected the nearly $5 billion plan the federal government had drawn up to protect the coast from storm surges, largely over concerns that the high walls along of the coast that the Corps of Engineers built could not be built suspected to be ugly and undesirable by the residents.
The 1.24-acre site is now home to a 13-story office building, which was completed in 1981.
Surging housing costs and a fickle labor market, which by one measure still hasn’t recovered from the pandemic are sending many locals packing. Miami-Dade lost 79,535 people through net migration to other parts of Florida or other states between 2020 and 2022. Still, there are reasons for optimism.
The city previously appraised the property’s value at around $3.5 million, but South River Warehouse, LLC, the development firm led by Arturo Ortega that owns the property, has stated it believes the land is worth around $23 million.
The project will include up to 2,346 rental apartments, ground floor retail, amenities, and parking for about 2,078 cars.
A $170,000 study upon which to base the plan won unanimous Transportation Planning Organization approval with aims far broader than the most recent plan for the area, which was drawn in 2003 in vastly different times for a vastly different downtown.
The project changing nearly a full block hugged by West Flagler and Northwest First streets is composed of three buildings.
The 442,000-square-foot, unnamed property will be located at 1015 SW 1st Ave. and feature high-end amenities and 2,000 square feet of ground-floor retail space.
Ven-American Real Estate, Inc. established in 1991, is a full service commercial and residential real estate firm offering brokerage and property management services.
Ven-American Real Estate, Inc.
2401 SW 145th Avenue, Ste 407
Miramar, FL 33027
Brokerage & Property Management Services
Phone: 305-858-1188