Procacci Sells Development Site Near Dolphin Mall for $38M
Procacci has owned the land since at least 2013.
Procacci has owned the land since at least 2013.
Groundbreaking on the project will begin in the third quarter of 2024, with a scheduled completion date at the end of 2025.
The project consists of 156 rental apartments located in Miami’s Health District.
The transit-oriented landmark development comprising nearly 2.3 million square feet will revolutionize modern living in the heart of the city.
The site’s zoning allows for 44 units, three stories in height, with a total buildable area of 126,341 square feet by right.
The project was partly funded through Miami-Dade County’s Public Housing and Community Development Department with $2.5 million in surtax funds. Completion of phase 1 is expected during the fourth quarter of 2024.
Zaha Hadid Architects has produced a pair of design variations for a 12-story ultra-luxury boutique oceanfront condominium with 57 residences.
The team has closed over $25 billion in multifamily transactions.
The Newmark team was led by Jordan Roeschlaub and Dustin Stolly, Co-Presidents of Debt & Structured Finance, along with Executive Managing Directors Christopher Kramer and Nick Scribani, as well as Senior Managing Director Danny Matz from the Miami office.
Codina is planning a mixed-use project with a focus on residential, “lifestyle” shops and neighborhood businesses, however he did not yet have a detailed development plan.
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