The Real Deal Miami

Alta Developers to build rental tower near Design District

Developer bought the site from Nancy Karp last year for $18M

July 14, 2016 03:45PM

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Alta Developers will build a 198-unit mixed-use apartment building on a site it owns near the Design District.

Revuelta Architecture and Behar Font & Partners are designing the 13-story building at 3900 Biscayne Boulevard, according to Alta’s website and first reported by the Next Miami. The project, called Quadro, will have 172,000 square feet of residential space.

The Comras Company is leasing the 28,000 square feet of commercial space. A Comras flier shows the space will be ready in 2018, and describes it as “ideal for showrooms, restaurants & retail” with 14 to 20-foot ceilings.

Banco de Crédito e Inversiones BCI is providing the financing, which was not been recorded with Miami-Dade County.

The Miami Arts Charter School, a visual and performing arts charter school, is based at the existing building on Biscayne and will move to a new facility in Wynwood. Nancy Karp, of Kobi Karp Architecture, sold the nearly 53,000-square-foot, three-story building to Alta in June 2015 for $18.4 million.

The site was formerly home to the local television station WPLG-10, the local affiliate of ABC in South Florida.

Alta has been involved in projects such as Baltus House, One Paraiso, Neovita Doral and Metropolis at Dadeland, according to the developer’s website. – Katherine Kallergis