Bacardi Partnership Plans Mixed-Use Tower In Downtown South Miami

May 14, 2019 1 Comment by

A joint venture led by the Bacardi family is planning to replace a decades-old Winn-Dixie in South Miami with a mixed-use residential tower.

Records filed with the city show 5850 S.W. 73 Street LLC was going before the South Miami Planning Board on Tuesday for approval to build an 11-story building with about 300 residential units, a market and retail space on the ground floor of the property at 5850 Southwest 73rd Street. It’s two blocks south of the Shops at Sunset Place, which recently secured approvals for redevelopment.

The company is tied to the Facundo and Amalia Bacardi Foundation. Alta Developers formed a joint venture with the Bacardis to redevelop the 1.9-acre Winn-Dixie property, according to the South Florida Business Journal. Facundo Bacardi, chairman of Bacardi Limited, recently completed the nearby office and retail project at 1515 Sunset Drive.

Property records show 5850 S.W. 73 Street LLC paid $14.5 million for the site in 2007.

The developers are requesting the city change the site from mixed-use commercial/residential zoning to transit-oriented development district.

The South Miami project would include nearly 341,000 square feet of residential space, 65,000 square feet of commercial – including back of house space, a 24,000-square-foot market and 20,000 square feet of additional retail – and nearly 500 parking spaces. A pool deck would be built on the sixth floor of the building, and the developers would also improve the streetscape. Corwil Architects is designing the project.

The Winn-Dixie building was built in 1962 and now totals about 21,000 square feet of space, plus surface parking.

 

Source:  The Real Deal

————————-

Get the latest industry news and information from CRE-sources delivered right to your email inbox!
And we promise…no more than one email each morning.

CLICK HERE TO SUBSCRIBE TODAY!

 

 

Go Ahead...Share!
  • email
  • Print
  • LinkedIn
  • Twitter
  • Facebook
  • Google Bookmarks
  • RSS
  • Add to favorites
Industry News, Miami-Dade County Multifamily, Miami-Dade County Retail, Multifamily, NA, Retail

One Response to “Bacardi Partnership Plans Mixed-Use Tower In Downtown South Miami”

  1. Johnny says:

    Great more expensive real estate.

Leave a Reply