Suffolk is demolishing the boatyard storage warehouse on the 2.3-acre parcel located at 615 S.W. 2nd Ave. in Brickell Village. The demolition work is expected to be finished by the end of March and cost approximately $200,000. Construction of the new development is scheduled to begin in the fourth quarter. In the meantime, residential units will be offered for sale.
The developer plans to house the 455 luxury condominiums in a 44-story residential tower. The units will include a mix of studios, riverfront flats, tower units and penthouse units, ranging in price from the $170,000s to the $600,000s. The project's sales office is now located on site and Cervera Real Estate has been selected as the exclusive brokerage for the development.
The 21-story, class A commercial and retail building will contain 217,000 sf of space. Developers also are planning to include a bistro and riverside café on the property. "This class A , full-service building is an added amenity for residents," says EA Fish Associates Florida partner Steven Gelb. "They can work and live in the same development."
Latitude on the River, rising on the Miami River, has a planned completion date of late 2006 and will join other mixed-use residential developments going up in the area. It will be located two blocks from the planned mixed-use destination Mary Brickell Village, which will include a 34-story, 369-unit luxury condo tower and more than 200,000 sf of retail, restaurant and entertainment space.
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