Commissioners Authorize Lawyers To Negotiate Deal For 1,350-Unit Nexus Riverside Central

Miami commissioners are still considering a deal that could lead to the construction of Nexus Riverside Central, a massive three tower rental complex.

Last week, the commission voted to hire a law firm to negotiate the deal, according to the Herald.

Early terms of the deal appear to be favorable to developer Adler Group, the developer bidding for the property. The city would end up spending up to $50 million more on leasing a new office building outside of the urban core than they would receive in rent received from their existing riverside administrative building.

The new city offices could be located near Marlins Park, Lyric Theater in Overtown, or inside the Link at Douglas project next to Metrorail.

Nexus Riverside Central could include 1,350 units, a 150-room hotel and 30,000 square feet of retail in three 36-story towers.

 

(renderings: studio x architects)