Crescent Heights would double the size of its assemblage with the acquisition of the school board’s 1.1-acre lot.
Feeding into a record-breaking in demand real estate market, multifamily developers have enough work in the pipeline to last into 2024.
Three towers, between 39 stories and 48 stories, would sit on top of a new public parking garage with 1,350 spaces and retail on the ground floor.
The project would have three 57-story towers connected by a podium at the base, comprised of 2,195 residential units, 540,000 square feet of offices, 49,999 square feet of retail and 2,457 parking spaces.
The increasing migration of Northern high-income executives is accelerating the real estate markets and the overall economy in South Florida, while banks are reporting substantial profit gains and are eager to welcome their businesses.
If selected, construction would begin in 2023 and take 59 months to complete.
If approved, the development would not only be the largest residential development in Downtown Miami, it would also dwarf all the other projects in Miami Worldcenter, the master-planned project underway in Downtown Miami.
The church, which was developed in 1926 and placed on the National Register of Historic Places in 1989, would remain standing and be transformed for new uses through adaptive reuse.
Values are expected to increase 11%, while yields will average 6%.
Miami is very well positioned to be the blockchain city of the world, experts are saying, as an influx of talented people in the blockchain technology industry are choosing the city to develop their businesses and create a crypto-enthusiastic community.