The developer of the recently approved Midtown 8 project has closed on the purchase of the site.
Wood Partners of Atlanta paid $25m for the property, located at 2901 and 2951 NE 1 Ave, according to the SFBJ.
Plans for the 387-unit project were approved by Miami’s planning department over the summer.
A demolition permit to clear the site was applied for last month but hasn’t yet been pulled. An application for a construction permit was started earlier this month but is still incomplete.
The project will include:
- 387 apartments
- 28 floors
- 29,549 sq. ft. commercial/retail
- 519 parking spaces
- 389,989 sq. ft. total FLR
