MIAMI—Multifamily is on the upswing in Miami. The latest developers to announce a new joint venture multifamily project are Adler Group and ECI Group.
Miami’s Adler and Atlanta’s ECI aim to tap into the rising demand for Miami multifamily with a project that features two luxury 20-story apartment towers that overlook Biscayne Bay. The multifamily project will sit on a 2.84-acre site at 7950 NE Bayshore Court. The joint venture will break ground on the multifamily towers later this year and deliver new apartments about 24 months later.
The site was the former home of the historic Mike Gordon’s Seafood Restaurant. The property is fully entitled for multifamily development within the confines of a Major Use Special Permit (MUSP). Miami’s Apollo Bank financed land deal.
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