Zom To Pay $19M For 434-Unit Luma Apartment Tower Development Site

An affiliate of apartment developer Zom is in advanced negotiations to acquire the 0.3326 acre site where the Luma apartment tower is planned, according to recently released Miami Worldcenter bond documents.

The expected sales price is $19.125 million, but the deal is not yet in contract. Closing is expected in the second or third quarter of 2017.

Zom is only expected to place a nominal contract deposit as part of the deal, due to the large amount the company is spending on pre-development costs for Luma such as architecture and engineering.

Luma will include 434 apartment units in a 44-story tower.

 

original plans for luma. later revised slightly after indoor mall scrapped