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$100M Soleste Grand Central Breaking Ground In Overtown Within Months

$100M Soleste Grand Central Breaking Ground In Overtown Within Months

The developers of Soleste Grand Central have closed on the purchase of the property in Overtown where the project is planned.

Construction will begin within the next few months, they said.

Soleste Grand Central will include:

  • 360 rental apartments, with prices that are “approachable and affordable”
  • 18-story tower with 220,000 square feet of total space
  • Elevated pool deck, fitness center and spa, kids’ playroom, coworking space and residents lounge
  • 438 parking spaces
  • 6,500 square feet of retail
  • 2,250 square feet of office

The purchase price for the 1.3-acre site was $9.7 million. An additional $100 million in development costs are expected, bringing total investment to $110 million.

PTM Partners and Estate Investments Group are the developers. PTM filed with the SEC in December to raise $125 million in the PTM Partners Opportunity Zone Fund I LP, according to The DI Wire.

The project is being built in partnership with the Overtown/Park West Community Redevelopment Agency, which is requiring some units be set aside for affordable housing.

Caymares Martin is the architect.  Miami’s Urban Development Review Board has approved the design.

 

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Anonymous
Anonymous

“with prices that are “approachable and affordable.”

Thank you for telling us that instead of showing us prices.

Anonymous
Anonymous

1800 for a 1/1 which for 80% of Miami isnt doable. Thank you next

Anonymous
Anonymous

Overtown getting some love!

Anonymous
Anonymous

Love it!

Anonymous
Anonymous

Me too.. building up Overtown.

Miami Realist
Miami Realist

“Approachable and affordable”… No developer can do that..Only MELO can.
But if it’s going to be build in Overtown than maybe there could be affordable prices.

Anonymous
Anonymous

No privacy on those balconies….no thanks

Anonymous
Anonymous

Privacy in balcony? go inside.

Anonymous
Anonymous

Forget it.. this is the type of person who goes to a public pool and wants privacy.

Anonymous
Anonymous

I don’t know why they made the balconies all over the place instead of uniform and orderly, where you have some privacy of limited sight to see from above or below.

Anonymous
Anonymous

Anyone know anything about the architect?

Interested
Interested

Like it, but….glass railings throughout would have given the building a more contemporary look

Anonymous
Anonymous

Glass is expensive. PLUS, the concrete is better and stopping the bullets.