Houston-based apartment developer Morgan Group is buying a fully approved development site across from Midtown Miami next to Enriqueta’s Sandwich Shop.
The deal doesn’t include the corner Enriqueta’s property, which is 5,600 square feet.
A 309-unit rental project called Midtown 29 is now approved for the site. Located at 190 NE 29th Street, the 20-story project will also include about 12,000 square feet of retail space on the ground floor. A 5-story garage will have 481 parking spaces. ADD Inc is the architect.
Morgan paid $19.12 million for the 1.2-acre site. Morgan is currently developing the Pearl Dadeland rental project on the former CompUSA property.
Encore Housing Opportunity Fund, Adler Development and Fifteen Group are the sellers.