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Greystone Enters Miami Multifamily Market

MIAMI—Jeff Simpson, CEO of Greystone, explains why his firm is venturing into the Coral Gables market at this point in the cycle.

By Jennifer LeClaire | Updated on December 18, 2013

MIAMI—Greystone Property Development just closed on a parcel of land near the popular Miracle Mile commercial section of Downtown Coral Gables. The project, a joint venture with Miami-based Alta Developers and Strategic Properties, represents Greystone’s entry into the Miami multifamily development market.

“The Mile,” a planned 13-story, 119-unit mixed-use property with street-level retail, will be located along Coral Way, just one block from the Miracle Mile shopping district. Miracle Mile spans several blocks of retail, dining, and entertainment. Once fully developed, the property will have a projected value of more than $40 million.

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