Crescent Heights proposes a 280-unit condo tower in Miami’s Arts & Leisure District, in close proximity to the firm’s planned redevelopment of a school board internet site.
The Miami-based organization, led by Russell Galbut, needs to construct the approximately 26-tale constructing among Northeast Very first Court docket and Northeast 1st Avenue, north of Northeast 14th Avenue, in accordance to an software Crescent Heights submitted to Miami-Dade County this month. The job would have 22,000 square toes of storage 1,500 square toes of professional space, such as retail and 4,400 sq. ft of open up space.
Crescent Heights is asking Miami-Dade for a pre-application assembly for a special exception for a normal advancement system in the Fast Transit Zone’s Metromover Zone. The web page is near the University Board Metromover halt. Pre-application meetings usually enable builders to gauge input from county directors prior to submitting an official proposal.
Data demonstrate an affiliate of Crescent assembled the six-large amount, .3-acre growth site for $6.7 million in a few deals in 2018 and 2020. The internet site addresses are 101, 115, 119, 121 and 125 Northeast 14th Avenue.
The software marks a stage ahead for Crescent’s yearslong press to develop in Miami’s Arts & Entertainment District, which formerly was recognised as the Omni.
In 2018, Crescent gained a Faculty Board of Miami-Dade County solicitation issued in 2016 to acquire and build the 1.1-acre parking good deal at 1370 Northeast Next Avenue, which is catty-corner from the proposed 26-tale improvement site. The faculty board in 2022 authorized the sale of its website to Crescent, which at the time was anticipated for $20.6 million. The offer has not shut, records demonstrate.
On the faculty board web-site, Crescent has proposed a Rafael Viñoly-designed 43-tale tower, referred to as Casa Forma, with 1,100 residential models atop an 8-story podium with parking and places of work. Galbut has mentioned the models most likely would be flats. Half the 1,100 parking areas and about 100,000 sq. toes of the workplace area would be for the university board.
Crescent Heights also owns the 1.1-acre parking whole lot promptly south of the school board web site, throughout the avenue from the Adrienne Arsht Heart for the Executing Arts, in accordance to data.
The company, also led by Sonny Kahn and Bruce Menin, has jobs nationwide, according to its website. In South Florida, Crescent Heights is acquiring the 39-story, 588-unit Nema Miami condominium tower at 2900 Biscayne Boulevard in Miami’s Edgewater neighborhood.
In Miami Beach, Galbut’s GFO Investments and David Martin’s Terra are developing the 48-story 5 Park tower with 238 condos at 500 Alton Street. GFO also is a husband or wife with New York-dependent Lefferts, Miami-based MMG Fairness and Matis Cohen on two North Beach front jobs. The developers prepare the 20-tale, 125-unit 72B condominium setting up at 600-650 72nd Avenue, 7116-7134 Carlyle Ave, 7121 Dickens Avenue and 601-621 71st Road, as properly as the adjacent 22-story, 206-unit 72 Park condo developing.
