David Martin -Terra president -offered paying $50 million for the air rights to redevelop the property at 300-344 Alton Road, a price that would be subject to two independent appraisals commissioned by the city. The existing building, which houses the restaurant Monty’s Sunset, would be demolished.
n its place, Martin would construct a building of up to 225 feet in height with 60 residential units, plus 45,000 square feet of commercial space, including retail and office. The site would also feature parking and two acres of open green space. The developer would also contribute $35 million to improvements to the marina facility that address resiliency and sea level rise . The city entered into a lease in 1983 to operate and maintain the Miami Beach Marina and property until 2022. Now, Martin is proposing a 99-year lease with a minimum annual rent of $1 million, to be adjusted for inflation, plus an increase in the share of per-gallon gasoline and diesel fuel that is sold.
The developer is hoping to make it on the Nov. 23 ballot. To do that, the questions would have to be submitted to Miami-Dade County’s Supervisor of Elections by July 31.
Somethings tells me it will get approved!
Developer Carlos de Narváez is moving forward with his $100 million luxury auto club project, Drivers Club Miami.Read more
The 2 -acre site was bought out for $1 million last year and is already getting ready to go up!The three-story, 54,300-square-foot building would be built on a 2-acre site. The units would each have two bedrooms and two bathrooms. Rents are expected to be about $1,645 a month. Global One Investment Group is the developer of the property.Read more
Beachside Residences brings a new brand of modern elegance and luxury living to Hollywood Beach. This boutique condominium of just 36 units features a minimalistic design and breathtaking views of the Atlantic Ocean and the Intracoastal Waterway.Read more
We have been writing about this future project for a while now, its offically out in the press! It will be the highest tower in Sunny Isles Beach reaching 749-feet with more than 60-stories!Read more