Crescent Heights is making moves at Edgewater. The developer will build a large mixed-use project on the land of 5 acres of the city. Therefore, developer requested for a reorganization of the 3000 and 3050 Biscayne Boulevard properties in Miami.

A commission presented to the city of Miami reveals plans for 754 housing units, about 269,000 square meters of office space, 17,000 square meters of retail space and 38,450 square meters of grocery, park and fitness areas.

There will also be a 10-storey, 90,480 sqm office building. 3050 Biscayne Boulevard on the southwest corner of Crescent Height 30th Street. The real opportunity is the tenant of the building in South Florida.

The Miami-based development company has offices in Chicago, New York, Los Angeles and San Francisco. Crescent Heights collected a series of properties in Biscayne, including the center on 2200 Biscayne Boulevard.

The records shows that 3050 Biscayne Properties LLC paid $ 8 million in 2010 for the 3050 Biscayne Boulevard. The property just north of it and purchased the office building next to 3000 Property LLC for $ 19.2 million in 2014 for Northeast 32nd Street and Biscayne. However, the Crescent Heights subsidiary paid $ 3.6 million to 3180 Biscayne Boulevard in 2017.

If the company progresses with the development on the 3000-3180 Biscayne Boulevard area, the project can add hundreds of housing units to the region. Moreover, including the neighboring Midtown Miami district and the other side of Biscayne Boulevard. Furthermore, Mill Creek Residential recently closed the pitch for a mixed-use rental tower on Northeast 21st Street in the east of the boulevard. The second project is the apartment development within blocks of each other.

Moreover, Urbanica Management acquired the 3001 Biscayne Boulevard for a hotel with retail and restaurant space in October. In Miami Beach, Crescent Heights also received approval to build a luxury residential tower on 500 Alton Road.

Source: The Real Deal

Melike Vodina /