The development, to be built on nearly 190 acres and designed to be an urban village, has been named Biscayne Landing at North Miami. The condos will cost between $250,000 and $1 million. The sellout value of the units is $2.5 billion. The condos will be housed in buildings from 4 to 25 stories.
The three-phase project will contain 600 to 700 units in the first stage, a spokeswoman says. It will offer two-, three- and maybe four-bedroom condos with ceilings at least 9 ft high. The average unit in the first phase is planned to be 1,500 sf.
The town commons is expected to include coffee shops and cafes that will compliment Biscayne Landing's soon-to-be developed schools, lakes and parks. Excavation began at the property Jan. 31 with a picnic lunch celebration including Brian Street of Boca Developers, based in Boca Raton, FL, and Michael Swerdlow of Swerdlow Real Estate Group in Hollywood, FL.
The two companies have formed a joint venture to develop the project, along with other South Florida projects. Boca Developers specializes in luxury high-rise condos; Swerdlow specializes in commercial real estate development.
Biscayne Landing will be located by Biscayne Bay, near Oleta State Park and the Florida International University campus, at 151 Street and Biscayne Boulevard. The site is the largest remaining parcel of undeveloped real estate in Miami-Dade County east of Interstate 95. When completed, Biscayne Landing will be the largest community east of I-95 in South Florida.
Construction is scheduled to begin this year, but no specific time frame has been disclosed. The development will take approximately 10 years to complete, a project spokeswoman tells GlobeSt.com.
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