Resia Proposes 1,300-Unit Resi Project in North Miami Beach
By Julia Echikson June 10, 2024 4:33 pm
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Here comes another massive residential development proposal in South Florida: Resia wants to build 1,296 apartments in North Miami Beach.
The residential component would span five 12-story residential buildings at 15780 W Dixie Highway, just west of a Teco gas plant. The 575,000-square-foot development would include three pools, three clubhouses and 1,709 parking spaces within three garages, which would house retail space on their ground floors.
The Miami-based developer purchased the 17-acre site for $57 million in 2022, according to property records. The proposal, which the North Miami Beach Planning and Zoning Board will hear Monday, covers only 14 acres. Construction is expected to begin next year.
The remaining three acres will be turned into something that’s “complimentary to the residential piece,” such as a school and commercial space, according to spokesperson for Resia.
In 2018, city officials approved a 2.5 million-square-foot mixed-use project, which included 1,650 residential units, 260,000 square feet of office space, 175,000 square feet of retail, a 175-room hotel and a 120,000-square-foot school. But construction never got underway and the site remained vacant.
In recent weeks, Miami developers have proposed gargantuan residential developments in response to rents that remain higher than pre-pandemic levels despite a recent cooldown.
In May, the Miami Urban Development Review Board approved a 1,215-unit residential complex, proposed by David Martin’s Terra and an entity tied to Inter Miami billionaire owner Jorge Más, on an Overtown site where the Major League Soccer stadium was planned.
Last week, developer Pablo Castro proposed a 3,233-unit complex in Miami, using the Live Local Act. The state law, enacted last year, gives builders broad zoning rights in return for allocating at least 40 percent of units as workforce housing.
Julia Echikson can be reached at jechikson@commercialobserver.com.
