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)

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Anonymous

LOL. The imaginary palm grove in the renderings gets me every time.

suomynona

Hasn’t FPL discussed selling that property?

Anonymous

Where do you think surrounding buildings get power from? Besides It would to too cost prohibitive for FPL to move it.

Miami Hurricane

Yes, once every skyscraper has solar panel exteriors and wind turbines throughout key areas. Also hydro water generation for summer rains.

aceraroja

It’s really hilarious. If it happens, I’ll jump for joy but yeah. No.

Dave

The worst part is that they would have the new office building be “outside the city core”. The downside of so much demand for residential space downtown. We need to be consolidating government offices downtown rather than making them more dispersed. At least those are workers that the government (city and county) have some control over. More downtown workers means its easier to design a mass transit system that actually works and gets people where they need to go. Instead we have MD water and sewer in Coral Gables, MD Police and Fire HQ in Doral along with Elections, IT in Kendall. Now the City of Miami wants to move its office space out of the core…
No one wants to put offices downtown because its impossible to get to but we can’t design a decent mass transit system because everyone keeps putting employment centers outside of the core.

Anonymous

This is the most consequential outcome of their decision. No office means we’re going to still have bad traffic since everyone will spend all of their time living in the core and leaving for work.

Anonymous

You may remember my quote:
What came first, the chicken or the egg? Downtown should be the easiest place to get to. However, they keep expanding the city, precipitously and irrationally. Result: Fastest growing areas? Doral and Miramar, two places without mass transit. American cities make no sense. Growth should be happening and encouraged where there is existing mass.

Anonymous

I wish the city made a deal with the county to consolidate to the old courthouse.

suomynona

Are you feeling alright? The Lyric Theater is very much in the downtown core. Three blocks to Miami Central/Brightline, 3 to Metrorail, 5 to Metromover. Four blocks from Beckham Stadium (just fyi, not related to mass transit).

Oscar

Where is this amazing urban forest? Seems like a really pleasant thing to live next to unlike say an FPL substation.

Anonymous

People going to be in a for a rude awakening when they visit.

Anonymous

Le Corbusier slabs with ugly checkerboard balcony placement? Something more innovative is worthy for this land, like the Chetrit Group’s proposal across the river.

Anonymous

Seems like the city is getting hosed on this deal. The will have to spend tens to hundreds of million dollars for their new building.

suomynona

No. The developer is building the new building for them. That’s why the lease deal is comparatively cheap.

Anonymous

Miami Herald says otherwise:

A review of the proposal last year noted that the city would pay up to $123 million for its new 375,000-square-foot office and 1,200-car garage, a roughly $50 million gap from what Adler will pay to lease the riverside property

anonymous rex

i like this one

Anonymous

Nice project and highly visible from 836.
Hope it gets built

marc

You mean I-95?