ASRR Files For Edgewater Alley Closure Where Twin Tower Project Planned

ASRR Capital is asking the city of Miami to vacate several alleys to allow for a twin tower project.

The land is in an Opportunity Zone.

ASRR’s Alex Sapir told the Wall Street Journal that he is planning a twin tower project with 1.4 million square feet. He previously said it could include up to 1,400 units.

Miami’s Planning, Zoning and Appeals Board is scheduled to vote on the alley vacation June 5.

 

 

(photo: phillip pessar)

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Anonymous
1 year ago

I would like to see renderings of said towers.

Anonymous
1 year ago

Better looking than the hideous Miami World Towers or Crescent Heights proposal some blocks away, wishfully thinking.

Anonymous
1 year ago

Mignonette Better stay

Anonymous
1 year ago

Please.. won’t miss that place not one bit if it’s gone.

Anonymous
1 year ago

If not, lots of restaurant space not far.

Anonymous
1 year ago

Seems like they should pay the City for it.

Anonymous
1 year ago

Um, if you’re talking about ASRR Capital asking the city of Miami to vacate several alleys to allow for a twin tower project, they have to get permits to do this and permits aren’t free.

Anonymous
1 year ago

This is an easy one to figure out. Multiply price per square foot ASRR Capital paid for the lot with square feet they’re asking from the city. Subtract the permit fee. A positive number is the amount of giveaway to the developer.

Anonymous
1 year ago

Okay.. but even you admit these permits aren’t free. These alleys are a useless drain on taxpayers so I, for one, won’t miss them and the tax money this project generates from these towers will greatly benefit the city and outweigh any, what you call, “giveaway to the developer” any day.

Anon
1 year ago

To call alleys useless is a clueless classification. The developer will begin paying taxes on the alley right away, assessed at a value consistent with the properties. The developer will spend hundreds of thousands of dollars removing and rerouting utilities to wherever the city and utility companies desire, in a safer, more appealing place. That’s the cost to get alleys vacated.

In situations where the roles are reversed and the city needs a corner radius for turning lane, or takes land along your entire frontage to widen the streets, add sidewalks, etc, the city would not pay for the land they took.

There is tons of things Miami gives away to developers, but this is often a fair trade off.

Anonymous
1 year ago

Don’t get your rebuttal to what I wrote. I said “these alleys are a useless drain on taxpayers,” so what about that is wrong?

Anon
1 year ago

alleys allow for utilities, vehicular access to your property, trash pick up for a good portion of residents in miami. We don’t design alleys any longer because as the car became much more popular, roads widened and we now use streets for the same purposes. They are not useless.

Anonymous
1 year ago

Mr Anon, didn’t you read the reports?.. no one used these alleyways, there’s no dire consequence for handing them over, therefore, they were useless to the taxpayers.

Anonymous
1 year ago

No one used these alleyways because the owner did not renew the leases of the businesses.
The space is very useful to the developer. I believe that should determine the price.

Anonymous
1 year ago

So the city can buy more free trolleys?

Anonymous
1 year ago

Super Prime real state is an opportunity zone.

Anonymous
1 year ago

Opportunity Zone = code for gentrify the F out of this place STAT !!!

Anonymous
1 year ago

Can we replace the cemetery across the street. That’s build-able land.

Anonymous
1 year ago

Can we pave over that cemetery already? That’s prime build-able land.