Broker Is Marketing Retail Space At 1836 Biscayne, Hinting That Owners May Be Serious About Development

Terranova Corp. is actively marketing the retail space at 1836 Biscayne, an indication that developer Fifteen Group may be serious about moving forward with development at the site.

Last year, the developer won Preservation Board approval for a 352-unit, 38-story tower at the site. At the time, an attorney representing the project said that it might be built in phases.

A church at the site was designated as historic, which gives the ability to the owners to sell TDRs that could be worth nearly $20 million.

Final approval for the project was granted by Miami’s Zoning Department in February.