Regency Development Group Proposes Five-Story Townhomes in South Beach

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Regency Development Group wants to build townhomes near Lincoln Road in Miami Beach.

The Chicago-based developer has filed a proposal for a 10-unit project at 1701 Jefferson Avenue, at the corner of 17th Street, a block north of the Lincoln Road shopping promenade. 

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Called the Villas on Jefferson, the Kobi Karp-designed development would be split between two buildings, each housing five units spanning roughly 2,800 square feet. All residences will be five stories high and include a two-car garage on the ground floor.

The Miami Beach Historic Preservation Board will hear the proposal April 9. 

Regency Development Group, led by Michael Troyanovsky, bought the half-acre site for $4.4 million last year, according to property records. The vacant parcel is now used as a parking lot for the nine-story office building at 1688 Meridian Avenue

A representative for Regency Development Group did not immediately respond to a request for comment.

The previous owner, a New York-based entity connected to Ophira Cukierman, had proposed a 40-unit residential building with a workforce housing component that the Historic Preservation board approved. 

Elsewhere in South Florida, Regency Development Group launched sales earlier this month for its third luxury boutique condo development in Bay Harbor Islands.

Julia Echikson can be reached at jechikson@commercialobserver.com