The Real Deal Miami

Developer launches Upper Buena Vista mixed-use project

60,000 sf project will include rental cottages, retail and restaurants

December 16, 2015 04:30PM
By Katherine Kallergis

  • Print
Renderings of Upper Buena Vista

Renderings of Upper Buena Vista

Developer Michal Aviv has launched a project in Miami’s Buena Vista neighborhood, aimed at retaining the area’s charm.

Upper Buena Vista, a mixed-use development north of the Design District, will span 60,000 square feet and include retail, a 24-room luxury bed and breakfast, and rental cottages.

“The general idea is to create a pocket village with everything in it,” Aviv told The Real Deal. “We love the neighborhood; we love Midtown, the Design District.”

Aviv, CEO of BVM Development, paid $1.125 million for the 0.85-acre assemblage last year, property records show. It will be developed in phases, she said, with construction for the first phase beginning in January. A building, constructed in 1936, will be restored “in an industrial way” and will include 4,000 square feet of interior and exterior space for a restaurant, as well as a rooftop terrace. That will be completed by the summer.

Gardens and walkways will connect the historic building to cottages in the back, which will be rentals ranging from on a monthly to an annual basis. The three-story residential buildings will feature units upstairs, lush vegetation and wood accents.

Aviv, with her business partner David Lahmy, began acquiring properties in Miami in 2010. But this is the first project they will develop in South Florida. Their experience is with mixed-use projects in Tel Aviv, London, Paris and other European cities.

Earlier this year, Metro 1 launched sales for Buena Vista Villas, a 12-unit mixed-use development in the historic Buena Vista District.

Upper Buena Vista will also include a wellness center, retail and micro-boutiques. The design will incorporate distressed materials, wood finishings and industrial accents. The entire project is slated for completion in 2018.