Midtown 8 Developer Closes On Purchase Of Project Site For $25M

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