The size of the site qualifies it for a Special Area Plan (SAP) which can provide the opportunity to achieve T6-12 zoning and up to 28 stories of vertical construction with community benefit and transit bonuses. This development will create phenomenal bay and ocean views as well as direct access to 54th Street, nearby restaurants, Publix, Morningside Park, and the Eastside Ridge Development. Miami has approved and provided entitlements for at least ten projects from the Miami River going north since this relatively new zoning tool was implemented.

“The property is the last remaining development site of this size in Greater Downtown Miami, adding to the site's unique potential,” says Crotty. “This asset is truly a gem that presents developers with a one-of-a-kind opportunity to create one of the most iconic mixed-use projects in the Miami CBD, rivaling that of Brickell City Centre.”

(A Miami investor has made a big bet on a 'last mile' downtown asset. Get all the details.)

Sitting just west of Biscayne Boulevard, a principal roadway with direct access to Interstate 95 and Interstate 195, the parcel is near the growing large-scale urban development of Midtown Miami and the burgeoning Wynwood Art District. Miami's densest and fastest growing neighborhoods of Brickell and Downtown are located just south of Midtown.

“Miami-Dade County's local economy continues to enjoy growth in areas such as tourism and retail sales driven largely by the live-work-play environment found in many urban pockets throughout the county, as explained in recent Avison Young market reports,” Fay says. “Aligned with this trend has been Miami making way for massive mixed-use projects making the Archdiocese site a timely investment.”

(Will art and location set this condo development apart? Judge for yourself.)

MIAMI—A 15-plus-acre development site with potential to develop approximately 5 million square feet of office, residential, retail, and hospitality product is up for grabs. The parcel is located at 4949 Northeast 2nd Avenue in Miami.

Avison Young's Florida Capital Markets Group along with Bezold Realty are marketing the parcel, which presents a rare opportunity to own an iconic site that has been held by the Archdiocese of Miami as the former home to the Archbishop Curley-Notre Dame High School. Located just outside of the internationally-renowned, high-end shopping mecca of the Miami Design District, the site will serve the pent-up demand fueled by office tenants and residents choosing to live, work, and play in an urban environment.

Avison Young principals David Duckworth, John K. Crotty, and Michael T. Fay will lead the marketing and disposition of the property on behalf of the seller. The team expects the asset to drive strong interest, in part, due to the surrounding development in Wynwood and the Design District.

“Having over 15 acres of contiguous land in the Greater Downtown Miami area is rare and dynamic as a stand-alone project,” David Duckworth, principal with Avison Young, tells GlobeSt.com. “But coupled with the adjacent 22 acres undergoing a special area plan, the asset becomes a transcendent market-altering development opportunity.”

The size of the site qualifies it for a Special Area Plan (SAP) which can provide the opportunity to achieve T6-12 zoning and up to 28 stories of vertical construction with community benefit and transit bonuses. This development will create phenomenal bay and ocean views as well as direct access to 54th Street, nearby restaurants, Publix, Morningside Park, and the Eastside Ridge Development. Miami has approved and provided entitlements for at least ten projects from the Miami River going north since this relatively new zoning tool was implemented.

“The property is the last remaining development site of this size in Greater Downtown Miami, adding to the site's unique potential,” says Crotty. “This asset is truly a gem that presents developers with a one-of-a-kind opportunity to create one of the most iconic mixed-use projects in the Miami CBD, rivaling that of Brickell City Centre.”

(A Miami investor has made a big bet on a 'last mile' downtown asset. Get all the details.)

Sitting just west of Biscayne Boulevard, a principal roadway with direct access to Interstate 95 and Interstate 195, the parcel is near the growing large-scale urban development of Midtown Miami and the burgeoning Wynwood Art District. Miami's densest and fastest growing neighborhoods of Brickell and Downtown are located just south of Midtown.

“Miami-Dade County's local economy continues to enjoy growth in areas such as tourism and retail sales driven largely by the live-work-play environment found in many urban pockets throughout the county, as explained in recent Avison Young market reports,” Fay says. “Aligned with this trend has been Miami making way for massive mixed-use projects making the Archdiocese site a timely investment.”

(Will art and location set this condo development apart? Judge for yourself.)