MIAMI | 180 SW 9th Street | FT | 48 + 38 FLOORS (Alta Development) - 665 Units

[chris08876]

48-Story Project With 665 Units In Twin Towers Planned Near Brickell Metrorail Station

A developer has announced plans for a twin-tower project in Brickell that will rise 48 stories, according to the SFBJ.

Alta Development has a contract to purchase five lots a block from the Brickell Metrorail station for a total of $31 million. The total lot size is about an acre.

The walk to the Brickell station will be about 50 yards.

The two new towers under planning will have a total of 665 apartments. They will be smaller units, so that rent payments will be more manageable.

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NXT

[chris08876]

Developer Plans 38-Story Tower Near Brickell Metrorail, After Tripling Density With RTZ Zoning

Another 38-story tower is now in planning in Brickell after a developer completed the purchase of a property last week, according to the SFBJ.

Alta Development paid $15m for the .47 acre property at 180 and 160 SW Ninth Street. A 24-unit apartment building on the site will be demolished.

An unnamed company from New York is a partner with Alta on the acquisition.

The new 38-story tower is planned to have 320 apartments.

Behar Font has been retained as the project architect.

Groundbreaking is planned for mid-2023.

Colliers South Florida Senior Director Virgilio Fernandez as lead, Executive Managing Director Gerard Yetming, Managing Director Mitash Kripalani, and Senior Financial Analyst Julian Zuniga represented the buyer, Alta Development LLC., in the deal. The Colliers team also represented the seller, Progesti Corp., in the transaction.

Alta secured Rapid Transit Zoning from the county before the purchase, nearly tripling development density to 500 buildable units an acre, a press release said.

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NXT