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Cashflow In Miami
January 9, 2022

Design Place Going Sabal

5045 NE 2nd Avenue, 5175 NE 2nd Ct, Miami, FL 33137

For the ninth time, the city of Miami’s Planning Zoning and Appeals Board deferred voting on a controversial mixed-use, high-rise project that would exceed 5 million square feet. It’s slated to replace the 512-unit Design Place apartment complex near Little Haiti.First unveiled in 2016, Eastside Ridge has been repeatedly deferred since 2018.

The planning board has routinely requested that SPV Realty’s development team meet with area residents and activists who fear that the 22-acre project will speed up gentrification, increase traffic on already congested roads, and be out of scale with the surrounding area. Adding to the anxiety of some local residents was the commission’s approval of other mega-projects, called special area plans, within a mile of Design Place, including the 8 million-square-foot Magic City Innovation District.

Now called Sabal Palm Village, the project will consist of 2,929 apartments; 168,011 square feet of office space; 296,297 square feet of retail; a 400-room hotel; and a 43,760-square-foot vocational school.

Sabal Palm was the original name of the low-rise apartment complex now standing at 5175 Northeast Second Avenue. Constructed in 1948, the property was purchased for $6 million by SPV Realty in January 2000.

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