The Houston, TX-based developer of apartment properties won unanimous approval on first reading of two zoning applications in late April during a Miami City Commission meeting but now faces two more public reviews.
Published advertisements show Finger wants to rezone the property it owns between 1917-2025 Biscayne Blvd. The company wants to change the classification to a central commercial-residential district from C-1 restricted commercial and R4 high-density multifamily residential.
In a separate but related application, the company also wants to reclassify the property it owns along Northeast 19th Street, Northeast 20th Street, Northeast 20th Terrace and 2010 Biscayne Boulevard. It is seeking change on those properties to C-1 restricted commercial from high-density multifamily residential.
The advertisements show the city's Planning Advisory Board approved the applications in a 7-0 vote, with members of the city Zoning Board voting 7-2 for the changes.
County property records show Finger Biscayne, an affiliate of Houston-based Finger Development Co., acquired about four acres in the 1900-2000 block of Biscayne Boulevard last December for $8.85 million or $2.21 million per acre ($50.79 per sf) from Horn Blower Trust Co., a Nevada corporation.
Finger Development operates out of the offices of Houston-based Finger Cos., a family owned company controlled by Marvy A. Finger, president.
Over the past several years, Finger Cos. has constructed numerous apartment complexes such as Lindbergh Place in Atlanta, Village at Bear Hill in Waltham, MA, Woodland Creek Apartments in Wheeling, IL and the Treehouse Apartments in Schaumburg, IL, where the company used tax-exempt FHA bonds to finance construction.
It is uncertain exactly what Finger Cos. is proposing on its Biscayne Boulevard dirt because company officials did not respond to numerous requests from GlobeSt.com for information about the project.
City planning staff also ignored a public records request from GlobeSt.com for facsimile copies of the supporting documents provided to the commission.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
