Former Electra Site In Midtown Sold To Hotel Developer
Fifteen Group has sold the Electra lot at 3601 N. Miami Ave in Midtown Miami for $12.25 million.
Aventura Hotel Properties, managed by Francisco Arocha is the buyer, according to the SFBJ. The paper notes that the buyer is building several Aloft Hotels in Miami.
In 2005, the City of Miami controversially approved the 147-unit Electra project for the site, designed by architect Kobi Karp. Neighborhood activists protested that at 420 feet, it would have become the tallest building in the area.