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6+Acres on the Miami River got the Green Light to go Vertical

Posted by admin on January 18, 2018
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1001 NW 7 St, Miami

Vacant 6+ acres on the Miami River got the green light to go vertical.

Miami River Walk will have 698 one-bedroom and two-bedroom units. Zoned multifamily.

The developer has agreed to create pedestrian paths leading to the riverfront and widen it’s proposed public riverwalk to 15 feet in width.  And, although the city of Miami code requires view corridors between projects of 262 feet, Miami River Walk has agreed to view corridors of 327 feet in width. Besides 100 parking spaces, the project will have 2,900 square feet of retail on the northwest side, adjacent to the open space.

Mast Capital also agreed to deed the riverwalk and pedestrian paths to the public, but not the green space on the northwest corner. The city was hoping for the green corner to become a public accessible park, but apparently developer has other plans for it.

For the last 14 years the property has been vacant, Lago said. In 2004, a limited liability company controlled by Edwin and Heidi Verdezoto bought the property for $8.75 million. How much money the Verdezotos are asking for the land now has not yet been revealed.

Final details will be known February 2018.

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